![]()
NDIC recovers more funds for Heritage Bank depositors
The Nigeria Deposit Insurance Corporation (NDIC) has announced the recovery of an additional N24.3bn from the assets of the defunct Heritage Bank Limited. This move aims to facilitate further payments to depositors with balances exceeding N5m following the bank’s licence revocation. The Central Bank of Nigeria revoked Heritage Bank’s operating licence on June 3, 2024, and appointed the NDIC as liquidator. The NDIC had previously declared a first liquidation dividend of N46.6bn in April 2025.
TLDR
- The NDIC recovered an extra N24.3bn from Heritage Bank’s assets for depositor repayment.
- Heritage Bank’s licence was revoked on June 3, 2024, with the NDIC appointed as liquidator.
- The second liquidation dividend is set at 5.2 kobo per N1.00, raising the cumulative payout to 14.4 kobo per N1.00.
- The first liquidation dividend of N46.6bn was declared in April 2025, paid at 9.2 kobo per N1.00.
- Further payments to depositors, creditors, and shareholders depend on additional asset recoveries.
