NDIC begins payment of N46bn liquidation dividends to Heritage Bank Customers

In a statement issued on Sunday, the NDIC said the payment began on Friday, April 25, 2025, following the recovery of proceeds from the sale of Heritage Bank’s assets and outstanding loans.

The Corporation noted that the payment represented a major step in its ongoing commitment to fully reimburse all depositors affected by the bank’s

“In its continued commitment to ensuring that depositors of the defunct Heritage Bank are fully reimbursed, the Nigeria Deposit Insurance Corporation (NDIC) has declared first tranche of liquidation dividends totaling N46.6 billion from the proceeds of sales of the defunct bank’s assets and recovery of debts owed to the defunct institution,” the statement signed by Hawwau Gambo, Acting Head of Communication and Public Affairs, read.

Liquidation dividends, according to the NDIC, are payments made to depositors in excess of the insured limit of N5 million, sourced from asset sales and loan recoveries of failed banks.

The Corporation further disclosed that the initial dividend payment was calculated at 9.2 kobo per naira on a pro-rata basis for each depositor with funds exceeding the insured threshold at the time of Heritage Bank’s closure.