The Nigeria Deposit Insurance Corporation (NDIC), has advised banks to comply with regulatory requirements especially on Bank Verication Number (BVN). According to NDIC, the aim is to ensure prompt payment of insured deposits to depositors in the event of bank…
By Esther Agbo The Nigeria Deposit Insurance Corporation (NDIC) has implemented a streamlined depositor payment process, which has significantly expedited the reimbursement of customers from the now-defunct Heritage Bank. This was revealed by NDIC’s Managing Director, Bello Hassan, during a…
…As other customers receive N5m each By Matthew Denis The Nigeria Deposit Insurance Corporation (NDIC) has disclosed that 17.64 percent of the insured deposits from the defunct Heritage Bank are still pending due to depositors’ accounts either having Post No…
By Matthew Denis The Management of Nigeria Deposit Insurance Corporation (NDIC) has disclosed that the remaining 17.64 percent of the insured deposits yet to be paid were largely depositors whose accounts have post no debits (PND) instructions or have no…
The Nigeria Deposit Insurance Corporation says it has disbursed the insured deposits of N5 million each to 82.36 per cent of the total customers of the defunct Heritage Bank. It also noted that 17.64 per cent of the insured deposits…
The Nigeria Deposit Insurance Corporation (NDIC) has attributed its swift payment of depositors of the failed Heritage Bank to advanced technology and robust cybersecurity measures. The Managing Director of NDIC, Mr Bello Hassan, disclosed this at the 2024 Mid-Year Enterprise…
By Esther Agbo OPay, a prominent Nigerian fintech company has confirmed that its customers’ deposits are now insured up to N5 million, in line with the Nigeria Deposit Insurance Corporation (NDIC) industry standard. In a statement released on Sunday, OPay…
By Opeyemi Abdulsalam The NDIC has identified a issue with former Heritage Bank customers’ account names not matching their BVN records, leading to delays in refunding their deposits. According to the NDIC, discrepancies in account names associated with former Heritage…
The Nigeria Deposit Insurance Corporation (NDIC) says account names discrepancies in Bank Verification Number (BVN) linked alternate account of some defunct Heritage Bank customers is delaying the payment of their insured deposits. Mr Bello Hassan, the Managing Director of NDIC told…
The Nigeria Deposit Insurance Corporation has listed the head office in Lagos and branches of failed Heritage Bank across the country for sale in its role as liquidator of the bank. NDIC announced the sale of the bank properties numbering…
