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NDIC to begin payments for 2.3 million Heritage Bank depositors this week

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The Nigeria Deposit Insurance Corporation (NDIC), says it will begin payment of an insured sum to 2.3 million depositors of Heritage Bank in-liquidation this week.

The Managing Director of NDIC, Bello Hassan, said this while briefing newsmen in Abuja on Wednesday. Hassan said the bank had preliminary deposits of ₦650 billion and loans worth ₦700 billion.

According to him, 99.9% of depositors of the defunct bank have a deposit balance of less than five million naira, while only 4,000 of the depositors have more than five million naira deposits.

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