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NDIC Commences Payment of N46.6bn Liquidation Dividends to Heritage Bank Depositors

By Mabeni Aboh

The Nigeria Deposit Insurance Corporation (NDIC) has commenced payment of N46.6 billion as the first tranche of liquidation dividends to depositors of the defunct Heritage Bank. The payment is for depositors whose funds exceeded the maximum insured limit of N5 million.

The NDIC announced this development in a statement on Sunday, noting that the payment started on Friday, April 25, 2025. The corporation is committed to ensuring that all eligible depositors of the closed bank are adequately reimbursed.

The liquidation dividend represents the amount paid to depositors from the proceeds realized from the sale of the bank’s assets and recovery of outstanding debts, in excess of the maximum insured limit. The initial dividend was disbursed at the rate of 9.2 kobo per Naira on a pro-rata basis to eligible depositors.