Customers of Heritage Bank throng the head office for payments

Customers of the liquidated Heritage Bank Plc. gathered at the bank’s headquarters in Lagos on Wednesday, June 5, 2024 to seek clarification on the payments of their deposit.

However, security personnel stationed at the bank’s entrance prevented customers from entering the premises.

Addressing the customers through the gate, an official informed them that payments had begun for savings account holders and would continue until Friday.

“You don’t need to take any action. NDIC staff are already processing payments. Your money will be transferred to your other account linked with your BVN,” the official assured.

However, corporate account holders were advised to return “next week,” leading to concerns among some who noted that BVN is typically associated with individual accounts, not companies.

The atmosphere remained sombre as customers declined interviews.

A customer simply stated, “Mine is an entrepreneurship account.”

Efforts to gain entrance were thwarted by security personnel, who referred to the Central Bank of Nigeria’s press release dated June 3, announcing the revocation of the bank’s license, as the response to all inquiries.

CBN revoked Heritage Bank Plc’s license on Monday, citing a breach of Section 12 (1) of BOFIA, 2020, and appointed the Nigeria Deposit Insurance Corporation (NDIC) as the liquidator.

NDIC Managing Director, Mr. Bello Hassan, disclosed at a news conference in Abuja that 99 per cent of Heritage Bank depositors had total balances less than N5 million.

He assured that payments would start before the end of the week, with insured benefits capped at N5 million.

According to him, those with deposits exceeding N5 million would be paid after sale of the bank’s assets.

He added that payments would begin before the end of the week.

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