Dollar to Naira News

Discrepancies in account names delaying Heritage Bank customers’ payment – NDIC – Premium Times

By Agency Report

The Nigeria Deposit Insurance Corporation (NDIC) says account name discrepancies in Bank Verification Number (BVN) linked alternate accounts of some defunct Heritage Bank customers are delaying the payment of their insured deposits.

Bello Hassan, the managing director of NDIC, told the News Agency of Nigeria (NAN) on Sunday in Abuja.

Mr Hassan said the corporation had paid a substantial amount to depositors of the defunct bank without BVN account-linked issues.

He called on depositors of the bank who were yet to receive their insured deposit credit alert to visit the NDIC’s website and complete their verification forms for their payment.

The managing director said the verification would include depositors without BVN alternate accounts.

”We have already commenced the payment of customers since June 6.

”We have paid a substantial amount to the customers.

”What we leverage in making the payment is the BVN of customers. We trace alternate accounts in other banks and pay them their insured amounts.

”There are some that we have challenges linking up because of some discrepancies between the names and others.

”We 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,” he said.

On payment of depositors with more than five million naira with the bank, Mr Hassan said they would be paid liquidation dividends.

According to him, NDIC has already commenced the process of disposing of the physical buildings and also set the process in motion to make sure that it recovers the loans and advances that were granted the bank.

”That is what we use in paying those liquidation dividends.

”We are not going to wait until we recover everything, no.

”As 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,” Hassan said.

The Central Bank of Nigeria (CBN) on 3 June revoked the banking licence of Heritage Bank Plc.

CBN said the decision was made due to the bank’s failure to improve its financial performance, posing a threat to financial stability. (NAN).

See Dollar to Naira black market today, Pound to Naira, Euro to Naira, Dollar to Naira CBN rate and Dollar to Naira Bank rate today.

Related Posts

Standard Bank Securities: Banks under our coverage could pay N217bn as proposed windfall tax – The Cable News

By Bunmi Aduloju The Standard Bank Group (SBG) Securities says banks under its coverage could pay N217 billion in the proposed windfall tax. In a report on Thursday,…

Central Bank’s Misguided Policies Under Cardoso Have Worsened Naira, Strangled Nigerian Economy – Civic Organisation – Sahara Reporters

By Sahara Reporters The Nigeria Must Win Network (NMWN), a civil society, has stated that interventions under the Governor of Central Bank of Nigeria (CBN), Olayemi Cardoso’s leadership…

Alleged N17.8bn Debt: Court Orders CBN, EFCC to Investigate Afex Accounts in 28 Banks – This Day News

By Wale Igbintade A Federal High Court in Lagos has ordered the Central Bank of Nigeria (CBN) and the Economic and Financial Crime Commission (EFCC) to carry out…

CBN resumes dollar sales to BDCs, halts Naira depreciation – Vanguard News

By Babajide Komolafe Directs BDCs to sell at N1,471/$ The Central Bank of Nigeria, CBN yesterday, announced the resumption of dollar sales to bureaux de change, BDCs, a development that…

CBN projects external reserves to dip in 2024 – Punch News

By Oluwakemi Abimbola The Central Bank of Nigeria has projected that the external reserves could reduce slightly in 2024 on the back of debt service and other obligations. This…

BoI to invest in green financing, modular refineries – Daily Trust

By Philip Shimnom Clement As part of initiatives designed to maximise growth and boost local investments, the Bank of Industry (BoI) has announced that it will explore new…