The Nigeria Deposit Insurance Corporation (NDIC) has started paying N46.6 billion in liquidation dividends to depositors of the defunct Heritage Bank. The funds were realized from the sale of the bank’s assets and recovery of debts owed.

Payment Details
The NDIC began paying the first tranche of liquidation dividends on April 25, with an initial dividend of 9.2 kobo per naira on a pro-rata basis to depositors with balances above N5 million. Further payments will be made as more assets are realized and outstanding debts recovered.

Next Steps
Depositors with balances exceeding N5 million who did not receive their liquidation dividends are advised to visit the nearest NDIC office. Depositors without alternative bank accounts who were not paid the insured amount should also visit NDIC offices or download forms from (link unavailable)