NDIC pays 86% of depositors’ funds trap in Heritage bank
Omeiza Bilal
The Nigeria Deposit Insurance Corporation (NDIC) has paid 86 per cent of the total insured deposits to depositors of the defunct Heritage Bank.
Managing Director/Chief Executive Officer of NDIC, Bello Hassan who disclosed this in Lagos during NDIC special day at the trade fair complex said “in just four days, the Corporation credited depositors’ insured amount directly into their alternate bank account using Bank Verification Number (BVN) as unique identifier.
He said that over the years the corporation has been instrumental in promoting stability by insuring that when a bank fails depositors are promptly compensated.
He stated that Trade Fair organised by Lagos Chamber of Commerce and Industry (LCCI) serve as a vital platform for showcasing innovations or progress that drive economic development, promote trade and attract investments.
Speaking further he said this year’s theme, “connecting Businesses, creating value”, highlights the importance of fostering growth by empowering businesses to innovate, collaborate and drive wealth creation.
Aligning with this vision, he said the NDIC is committed to ensuring a stable financial environment that safeguards depositors and build public confidence, enabling businesses to thrive and contribute to the economic development of the country.
He said the Corporation which established three and half decades ago has been a key player in protecting depositors, especially the most vulnerable and contribute in strengthening the financial system.
“Our core mandate include providing deposit insurance to depositors’of licensed banks, supervising insured financial institutions, distress resolution and ensuring the orderly resolution of banks in the event of failure. We remain committed to safeguarding Nigerian Bank depositors from the devastating impact of banks failures.
In collaboration with the CBN we work tirelessly in ensuring the stability of the banking sector, maintain compliance to banking regulations and ensure effective oversight of insured deposit taking financial institutions. Protecting your bank deposits encapsulates our mission to foster financial inclusion and stability by assuring Nigerians that their savings are secured.
