The Nigeria Deposit Insurance Corporation (NDIC) has declared a second Heritage Bank liquidation dividend of N24.3 billion. This payment goes to depositors whose balances exceeded the insured limit of N5 million when regulators closed the bank.
The Central Bank of Nigeria (CBN) revoked Heritage Bank’s license on June 3, 2024. Since then, the NDIC has acted as liquidator and worked to recover assets. It started paying insured deposits—up to N5 million per person—right away from the Deposit Insurance Fund.
At the same time, the NDIC began selling physical assets, collecting outstanding loans, and cashing in investments. These efforts led to a first dividend of N46.6 billion in April 2025. That payment gave depositors 9.2 kobo for every N1.00 of uninsured funds.
Now, the new dividend adds 5.2 kobo per N1.00. In total, eligible depositors have received 14.4 kobo per N1.00 so far. The NDIC said this latest amount comes from more debt recoveries, asset sales, and investment proceeds.
The law requires these payments under Section 72 of the NDIC Act, 2023. The Corporation will credit the money automatically using existing depositor details. If you already got your insured deposit and first dividend, check your linked bank account via your BVN.
However, if you haven’t received any payment—or don’t have a BVN or alternative bank account—you must take action. Visit the nearest NDIC office or fill out the e-claim form on the official NDIC website.
Importantly, the NDIC uses only recovered funds—not taxpayer money—for these dividends. It will make more payments as it sells additional assets or collects more debts.
In short, the Heritage Bank liquidation dividend process shows the NDIC’s effort to return value to affected depositors. Every kobo helps rebuild confidence in Nigeria’s financial safety net.
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