The Nigeria Deposit Insurance Corporation, NDIC, has announced a second liquidation dividend of ₦24.3 billion for depositors of the defunct Heritage Bank Limited. The payment targets depositors whose account balances exceeded the insured limit of ₦5 million at the time the bank’s licence was revoked.
In a statement signed by the NDIC’s Head of Communication and Public Affairs, Hawwau Gambo, the corporation said eligible uninsured depositors will receive 5.2 kobo for every naira of their outstanding balances. This brings the cumulative liquidation dividend to 14.4 kobo per naira, following an earlier payment made in April 2025.
The NDIC explained that the payout was made possible through the recovery of outstanding loans, disposal of physical assets and realisation of investments belonging to the failed bank. Heritage Bank’s operating licence was withdrawn by the Central Bank of Nigeria on June 3, 2024, after which the NDIC was appointed liquidator under existing banking laws.
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The corporation said payments will be credited automatically to depositors’ alternative bank accounts already on record using their Bank Verification Numbers. It added that further liquidation dividends will be declared as more assets are recovered, urging depositors yet to receive any payment to regularise their claims through NDIC offices or its online platform.
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