The Nigeria Deposit Insurance Corporation (NDIC) has said that it has started the liquidation process of Heritage Bank Plc following the revocation of its banking license by the Central Bank of Nigeria (CBN). 

Its Director of Communication & Public Affairs, Bashir Nuhu, in a statement yesterday noted that the corporation is currently verifying to pay customers of the bank with alternate bank accounts up to N5 million per depositor, depending on their deposits, while depositors with funds in excess of N5 million will be paid liquidation dividend upon realization of the bank’s assets and recovery of debts owed to the bank.

The NDIC noted that for depositors who do not have an alternate bank account, such customers are advised to visit the nearest Heritage Bank branch with proof of account ownership and a verifiable means of identification, such as a driver’s license, permanent voter’s card, or National Identity Card, along with their BVN, for the verification of their deposits and the subsequent payment of insured sums. 

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