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\u00a0delaying the payment of their insured deposits.<\/p>\n
Mr Bello Hassan, the Managing Director of NDIC told newsmen, in Abuja, yesterday.<\/p>\n
Hassan said the corporation had paid substantial amount to depositors of the defunct bank without BVN account linked issues.<\/p>\n
He called on depositors of the bank who were yet to receive their insured deposit credit alert to visit the NDIC\u2019s website and complete their verification forms for their payment.<\/p>\n
The managing director said the verification would also include depositors without BVN alternate account.<\/p>\n
\u201dWe have already commenced the payment of customers since June 6.<\/p>\n
\u201dWe have paid substantial amount to the customers.<\/p>\n
\u201dWhat we leverage in making the payment is BVN of customers. We trace alternate accounts in other banks and pay them their insured amounts.<\/p>\n
\u201dThere are some that we have challenges linking up because of some discrepancies between the names and others.<\/p>\n
\u201dWe are calling on customers that have not received their alerts in their alternate accounts to come forward and complete their verification forms so that we can pay them,\u201d he said.<\/p>\n
On payment of depositors with more than five million naira with the bank, Hassan said they would be paid liquidation dividend.<\/p>\n
According to him, NDIC have already commenced the process of disposing the physical buildings and also set the process in motion to make sure that we recover the loans and advances that were granted the bank.<\/p>\n
\u201dThat is what we use in paying those liquidation dividends.<\/p>\n
\u201dWe are not going to wait until we recover everything, no.<\/p>\n
\u201dAs we recover, we will also advertise to say that we will pay liquidation dividends so that concerned depositors will be on the look out for alerts in their accounts,\u201d Hassan said.<\/p>\n
The Tide reports that the Central Bank of Nigeria (CBN) on June 3\u00a0 revoked the banking licence of Heritage Bank Plc.<\/p>\n
CBN said the decision was made due to the bank\u2019s failure to improve its financial performance, posing a threat to financial stability.<\/p>\n","protected":false},"excerpt":{"rendered":"
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\u00a0delaying the payment of their insured deposits. Mr Bello Hassan, the Managing Director of NDIC told newsmen, in Abuja, yesterday. Hassan said the corporation had paid substantial amount to depositors of […]<\/p>\n","protected":false},"author":1,"featured_media":334566,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-334516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/334516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=334516"}],"version-history":[{"count":1,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/334516\/revisions"}],"predecessor-version":[{"id":334574,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/334516\/revisions\/334574"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/media\/334566"}],"wp:attachment":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=334516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=334516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=334516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}