HERITAGE BANK DEPOSITORS DEMAND FULL REFUNDS

Former customers of Heritage Bank have called for the full repayment of their deposits following the liquidation of the bank.

The depositors expressed concern over the recovery of their funds, with some saying they were yet to receive the full amounts held in their accounts before the bank was shut down.

The Central Bank of Nigeria revoked Heritage Bank’s licence in June 2024 after determining that the bank had failed to improve its financial position.

Following the revocation, the Nigeria Deposit Insurance Corporation was appointed as the liquidator and began the process of verifying depositors and paying insured deposits.

While the NDIC has continued efforts to settle eligible claims, depositors with balances above the insured limit have raised concerns over when they will recover the outstanding portions of their funds.

The affected customers urged the relevant authorities to accelerate the liquidation process and provide clearer information on the recovery of their remaining deposits.

They said delays in accessing their funds had created financial difficulties for individuals and businesses that depended on the money for daily operations.

The depositors also called for greater transparency regarding the bank’s assets, liabilities and recovery efforts.

The development comes amid wider concerns about depositor protection and confidence in Nigeria’s banking system.

Authorities have maintained that the liquidation process is being handled in accordance with applicable laws and that efforts are ongoing to recover available assets and settle legitimate claims.