By Tony Obiechina Abuja
The Managing Director and Chief Executive, Nigeria Deposit Insurance Corporation, NDIC, Bello Hassan, says the corporation has commenced sales of landed property and chattels of the defunct Heritage Bank nationwide to ensure payment of liquidation dividend to uninsured depositors of the bank.
Hassan disclosed this on the occasion of the NDIC’s special day at the 45th Kano International Trade Fair.
He said: “Over the years, the NDIC has been instrumental to promoting stability by ensuring that when banks fail, depositors are protected, and their funds are reimbursed promptly.’
“The corporation began the payment of insured deposits of N5 million per depositor within a record time of four days of the bank’s closure.
“This was achieved using Bank Verification Numbers, BVN, as a unique identifier to locate depositors alternate accounts in other banks without the need to fill forms or visits the NDIC offices.
“Having largely reimbursed depositors their insured deposits, the corporation is committed to ensuring that depositors with balances exceeding N5 million are also paid the balance of their deposits.
‘’These uninsured deposits represent a significant portion of the total deposits in Heritage Bank. In this regard, the corporation is already working assiduously to ensure that depositors with amounts in excess of the maximum insured amount of N5 million are paid through liquidation dividends from the realisation of the defunct bank’s assets and recovery of debts.
“This process, which is by competitive public auction, shall follow laid down extant public procurement guidelines aimed at ensuring transparency, fair competition and accountability to enable recovery of commensurate values from the exercise toward payment of liquidation dividend to the uninsured depositors.’’
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