NDIC Sends Message to Heritage Bank Customers as ATM, App Stopped Working After CBN Revoked license

• The NDIC has a message for Heritage Bank customers following CBN's decision to revoke the bank's license
• The CBN decided to revoke Heritage Bank's banking license due to poor financial performance
• Already, customers have taken to social media to complain that their ATM and app have stopped working

The Nigeria Deposit Insurance Corporation (NDIC) has issued a statement reassuring customers of Heritage Bank following the revocation of its operating license by the Central Bank of Nigeria (CBN).

Legit.ng had reported that the Central Bank of Nigeria revoked the banking license of Heritage Bank over poor financial performance.

NDIC assures customers

In a noticed on Monday, June 3, 2024 the NDIC confirmed that it has been appointed as the liquidator for Heritage Bank and is committed to protecting depositors' interests.

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The corporation advised customers to remain calm as it initiates the process of settling insured deposits.

The notice reads:

"The Governor of the Central Bank of Nigeria (CBN) on 3RD day, June, 2024, revoked the banking licence of Heritage Bank. Consequently, the Corporation, as the appointed Liquidator; in line with sections 55 (1) (2) and 56 (3) of Nigeria Deposit Insurance Corporation (NDIC) Act, 2023, will take necessary steps to wind up the affairs of the bank.

"Defunct Heritage Bank operated as an insured institution under the provisions of the Nigeria Deposit Insurance Corporation Act, 2023.

"The Corporation will pay all its depositors their insured deposits up to the statutory maximum of N5,000,000.00 per depositor for Deposit Money Banks (DMBs)/mobile money subscribers.

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" However, depositors with funds in excess of the insured deposits will be paid as and when the assets of the closed bank are realised.

"Depositors will soon be notified by publication in national dailies as to the commencement of payment of the insured deposits."

NDIC also provided contacts for depositors in need of clarification.

It added:

"Meanwhile, all depositors who have questions or require further clarifications on their accounts or payments in the closed bank are advised to contact the Liquidator-In-Charge at the following address:

"Nigeria Deposit Insurance Corporation Lagos Office, Mamman Kontagora House (8th Floor) NO. 23A, Marina P. M. B. 12881 Lagos Telephone Nos.: 08023137228, 08037840909 Toll-Free Line: 080063424357."

Due to the suspension, customers with fund in their bank account will not be able to access their funds immediately.

A customer Jane Chukwu wrote on her page:

"Heritage bank what will happen to my money, Your app and ATM is not working anymore."

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Heritage Bank's sacked workers protest

Earlier, Legit.ng reported that Nigerian bank workers' unions are protesting the termination of their members' employment at Heritage Bank.

The union alleged unfair labour practices and claimed the affected workers were dismissed without compensation.

The union demanded justice for the affected workers and urged the bank to settle the three-month-old unpaid severance benefits.

Source: Legit.ng