Following the revocation of Heritage Bank’s operating licence by the Central Bank of Nigeria (CBN), the Nigeria Deposit Insurance Corporation (NDIC) has outlined the steps it will take to ensure depositors receive their funds.
The corporation assured depositors that they will be paid up to N5 million using their Bank Verification Number (BVN) to identify their alternate accounts within the banking industry.
In a statement signed Monday by Bashir Nuhu, NDIC’s spokesperson, the regulatory body explained that depositors with alternate bank accounts will receive payments up to the insured amount of N5 million.
