The Nigeria Deposit Insurance Corporation (NDIC) has declared a second liquidation dividend of N24.3 billion for depositors
of the defunct Heritage Bank Limited, following continued recovery of debts, sale of assets, and achievement n of investments.
The development comes after the Central Bank of Nigeria (CBN) revoked Heritage Bank’s operating licence on June 3, 2024, in line with the Banks and Other Financial Institutions Act (BOFIA) 2020 and the NDIC Act 2023.
In a statement signed by the NDIC’s Head of Communication and Public Affairs, Hawwau Gambo, the corporation said the new dividend would be paid to depositors whose balances exceeded the statutory insured limit of N5 million.
According to the NDIC, the second dividend will be paid at a rate of 5.2 kobo per N1.00 on outstanding uninsured balances, in accordance with Section 72 of the NDIC Act 2023.
The corporation had earlier declared a first liquidation dividend of N46.6 billion in April 2025, paid at 9.2 kobo per N1.00, following the disposal of physical assets and initial debt recoveries.
With the latest payment, the cumulative liquidation dividend for Heritage Bank depositors has risen to 14.4 kobo per N1.00 as of January 2026.
The NDIC explained that payments would be made automatically to eligible depositors using existing records and Bank Verification Numbers (BVN), with funds credited to their alternative bank accounts.
Depositors without BVNs or alternative bank accounts, or those yet to claim their insured deposits or earlier dividends, were advised to visit the nearest NDIC office or submit claims through the e-claim platform.
The corporation clarified that liquidation dividends are paid only to depositors whose balances exceed the insured limit and that other creditors and shareholders would be considered only after all depositors have been fully reimbursed, subject to available funds.
