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NDIC Announces Compensation Details For Heritage Bank Customers After License Revocation
NDIC Announces Compensation Details For Heritage Bank Customers After License Revocation....KINDLY READ THE FULL STORY HERE▶
Following the revocation of Heritage Bank’s operating license by the Central Bank of Nigeria (CBN), the Nigeria Deposit Insurance Corporation (NDIC) has detailed how customers will be compensated. NDIC Director of Communication and Public Affairs, Bashir Nuhu, released a statement outlining the process……CONTINUE READING
Payment of Insured Deposits
Depositors with alternate bank accounts in the industry will receive up to ₦5 million per depositor. This will be facilitated using their Bank Verification Number (BVN) to locate their alternate accounts. Depositors with funds exceeding ₦5 million will receive liquidation dividends once the bank’s assets are sold and debts are recovered.
Process for Depositors Without Alternate Bank Accounts
Depositors without alternate bank accounts must visit the nearest Heritage Bank branch with proof of account ownership and a verifiable means of identification (driver’s license, permanent voter’s card, National Identity Card). They can also file an online claim on the NDIC website by filling out and uploading the required documentation.
Creditors’ Claims
Creditors of Heritage Bank are advised to file their claims either by visiting the nearest branch or through the online platform. The payment process for creditors will begin after all depositors have been compensated.
Loan Repayment by Debtors
Debtors who have not completed their loan repayments should contact the NDIC’s Asset Management Department (AMD) for further instructions.
Assurance to the Public
The NDIC reassured the public of the safety of their deposits in all licensed banks, emphasizing that banks whose licenses have not been revoked remain secure.
Official Statement
“Following the revocation of the banking license of Heritage Bank Plc by the Central Bank of Nigeria (CBN) today, June 3, 2024, and the appointment of the Nigeria Deposit Insurance Corporation (NDIC) as the Liquidator, the Corporation wishes to announce to depositors of the bank in particular and the banking public in general, as follows:
The NDIC has commenced the liquidation process of Heritage Bank Plc. Depositors of the bank with alternate accounts within the industry will be paid up to the insured amount of ₦5 million per depositor using their BVN to locate their alternate account. Depositors with funds in excess of ₦5 million will be paid liquidation dividends upon the realization of the bank’s assets and recovery of debts owed to the bank.
Depositors without alternate bank accounts should visit the nearest branch of the bank with proof of account ownership, verifiable means of identification, their alternate account, and BVN for verification of their deposits and subsequent payment of insured sums. Alternatively, they can file online claims on the NDIC website.
Creditors should file their claims at the nearest bank branch or via the online platform. The process of payment of creditors will begin after all depositors have been paid.
Debtors who have not completed loan repayments are advised to contact the Corporation’s Asset Management Department. The NDIC assures the entire banking public of its commitment to the continued safety of depositors’ funds in all licensed banks. Banks whose licenses have not been revoked remain safe and sound.”
For further inquiries, depositors are encouraged to contact the NDIC directly.
Former Vice President Atiku Abubakar has revealed that his push for an opposition coalition was initially rejected by members of the Peoples Democratic Party (PDP).....KINDLY READ THE FULL STORY HERE▶
Atiku made the disclosure during an interview on Arise Television on Wednesday, where he reflected on events following the PDP’s defeat in the 2023 presidential election. According to him, he warned party leaders after the election that the PDP could struggle politically without forming alliances with other opposition forces. “To be honest, I was one of the major initiators of this coalition. After the PDP lost the last election, I told the party clearly that I did not see a future for the PDP without a coalition,” he said. Atiku said his advice was rejected at the time, despite his conviction that Nigeria’s political history had shown the importance of alliances. “They disagreed with me then. I have studied Nigeria’s political transition over the years and saw how previous alliances worked, so it was not difficult for me to foresee this,” he stated. The former vice president added that his support for coalition politics was also influenced by his desire to encourage the emergence of younger leaders he believes are vital to Nigeria’s future. “I saw some of these younger politicians as the future leaders of this country, and I felt it was my duty to point that out,” he said. However, Atiku claimed the resistance he encountered within the party was driven more by personal feelings than by disagreement over the substance of his proposal. “They disagreed with me simply because they did not want to see my face, not because of what I was suggesting,” he said. Atiku added that recent political developments have now vindicated his position on the need for a broad opposition alliance ahead of future elections.
Former Vice President Atiku Abubakar has said the African Democratic Congress (ADC) will first pursue a consensus arrangement before considering a primary election for its 2027 presidential ticket.....KINDLY READ THE FULL STORY HERE▶
Atiku made this known during an interview on Arise Television on Wednesday while discussing the party’s leadership and strategy ahead of the next general election.
He said he is open to backing a consensus candidate if that becomes the party’s collective decision, stressing that such support should not be interpreted as stepping aside.
“It is not about stepping aside, but whether I am willing to support, and yes, I will,” Atiku said.
According to him, the ADC’s first priority is to build internal unity and reach an agreement among stakeholders before considering a competitive primary process.
“Our first option will be to work out a consensus. If that doesn’t happen, then of course we will explore other options. And yes, I will support whoever eventually emerges,” he stated.
Atiku also expressed confidence in the political experience within the party, saying he believes a consensus is achievable and may make a full-scale primary contest unnecessary.
“That remains our preferred path. We will go for primaries if consensus fails, but I honestly do not expect it to get to that stage because we are dealing with mature and experienced politicians,” he added.
His comments come amid growing political consultations and coalition talks as parties begin to position themselves ahead of the 2027 general elections.
Former Vice President Atiku Abubakar has said the opposition coalition under the African Democratic Congress (ADC) has significantly strengthened his chances of winning the 2027 presidential election.....KINDLY READ THE FULL STORY HERE▶
Atiku made the remarks during an interview on Arise Television’s Prime Time programme on Wednesday. Speaking on what makes his latest presidential bid different from previous attempts, Atiku said the ADC coalition brings together key political figures from across major parties, including the APC, PDP and Labour Party. He described the alliance as a broader and more strategic political arrangement ahead of the 2027 general elections. According to him, the coalition has created a stronger platform that improves his prospects. “Now, we have a broader coalition — a combination of APC, PDP and LP — which gives me a better chance of becoming president in 2027,” he said. Atiku also noted that the coalition reflects both experience and generational inclusion, which he said shows a clear succession plan. “You see people of my generation, and you see younger people coming behind us, so you can clearly see a succession pattern,” he added. Meanwhile, Atiku described former President Goodluck Jonathan as a decent but inexperienced leader. According to him, Jonathan’s lack of experience contributed to shortcomings in governance and played a role in his defeat in the 2015 presidential election. “I know Goodluck Jonathan very well. He is a decent young man, but he was also inexperienced, and that contributed to his failure in managing the affairs of the country,” Atiku said. He made the remarks while stressing the need for experienced and capable leadership in Nigeria.
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