Heritage Bank customers yet to recover their money should come forward – NDIC

The Nigeria Deposit Insurance Corporation (NDIC) says customers of the defunct Heritage Bank who are yet to receive payment should come forward and provide their account details.

According to the News Agency of Nigeria, Bello Hassan, managing director of NDIC, spoke on Thursday during the corporation’s ‘special day’ event, held on the sidelines of the ongoing 36th Lagos International Trade Fair.

Hassan, speaking on NDIC’s oversight and regulatory functions, said the corporation has helped in the liquidation of the failed Heritage Bank and the ongoing recovery and refund of depositors’ funds.

The managing director said depositors who are yet to receive their payment should come forward with their BVN, proof of account ownership, identification, and alternative account details.

“Claims can be submitted through various channels including our website, email, and social media platforms,” he said.

The NDIC boss said the mandate of the corporation and its commitment is to safeguard depositors from the devastating impact of bank failures by working in collaboration with the CBN.

Speaking on the stability of Nigeria’s financial system, he said all licensed banks in the country are safe.

Hassan stressed that “all banks that have their licences not withdrawn by the Central Bank of Nigeria (CBN) are safe and healthy”.

The managing director, represented by Nuhu Bashir, director of communications and public affairs, also said the NDIC was working tirelessly to ensure continuous safety and soundness in the financial system.

“The NDIC is committed to ensuring a stable financial environment that safeguards depositors and builds public confidence, enabling businesses to thrive and contribute to our nation’s economic development,” he added.

Gabriel Idahosa, the president of the Lagos Chamber of Commerce and Industry (LCCI) said the NDIC had remained effective in its regulatory oversight.

He said the corporation has been helpful in maintaining stability within the financial sector.

“The corporation’s vigilant monitoring of banks, proactive intervention in distressed institutions, and ongoing commitment to depositor protection have instilled confidence in the banking sector,” Idahosa said.

“These ensure that banks can continue to serve businesses and individuals even in uncertain economic times.

“Its unwavering commitment to depositor protection and financial stability has been vital in navigating recent economic challenges and safeguarding the integrity of Nigeria’s banks.”

Idahosa urged the NDIC to continue to evolve in response to the shifting financial landscape, addressing challenges such as digitalisation, rising non-performing loans, and public awareness.