The Nigeria Deposit Insurance Corporation (NDIC) has announced that the first tranche of liquidation dividends for uninsured depositors of the defunct Heritage Bank will be paid in April 2025.
This disclosure was made in a press statement released by Hawwau Gambo, the Acting Head of Communication & Public Affairs of the NDIC, on Sunday.
The NDIC stated that the payment would be made on a pro-rata basis to uninsured depositors, in line with Section 72 of the NDIC Act 2023, which prioritizes the settlement of deposit liabilities over other liabilities when an insured institution fails.