The Nigeria Deposit Insurance Corporation has announced a second liquidation dividend of N24.3 billion for depositors of the defunct Heritage Bank whose balances were above the N5 million insured threshold at the time the lender was shut down.
The payment follows the withdrawal of Heritage Bank’s operating licence by the Central Bank of Nigeria on June 3, 2024, with the NDIC appointed as liquidator under existing banking laws.
The Corporation said the latest payout will be made at a rate of 5.2 kobo for every naira of uninsured deposits.
This new tranche raises the total liquidation dividend paid so far to 14.4 kobo per naira, combining the earlier N46.6 billion disbursed in April 2025 and the newly approved amount.
The NDIC said the additional funds were realised through continued debt recovery, asset sales and the monetisation of investments linked to the failed bank.
The News Chronicle understands that eligible depositors will receive the funds automatically through bank details already provided to the NDIC, with payments routed using existing BVN information.
Those who have not updated their records or are yet to receive earlier payments have been advised to visit NDIC offices nationwide or submit claims through the agency’s online portal.
The Corporation reiterated that liquidation dividends apply strictly to depositors with balances above the insured limit.
Other creditors and shareholders will only be considered after depositors have been fully settled, subject to further asset recovery.
NDIC also disclosed that this is not the final payout, noting that additional liquidation dividends will be declared as more assets are recovered and outstanding obligations resolved.
