Heritage Bank Depositors Demand Full Refunds from Regulators

Aggrieved depositors of the defunct Heritage Bank Plc, represented by the Concerned Heritage Bank Depositors Forum, are calling for the Federal Government, Central Bank of Nigeria (CBN), and Nigeria Deposit Insurance Corporation (NDIC) to ensure full repayment of their outstanding funds. The CBN revoked Heritage Bank’s banking licence on June 3, 2024, due to the bank's failure to improve its financial position.

Following the revocation, the NDIC was appointed as the bank’s liquidator to recover assets and pay depositors. The depositors claim that many customers are still unable to access their funds, which are crucial for essential obligations such as school fees and medical treatment.

They argue that the delay has extended beyond a banking issue, affecting household finances. The depositors urged the government and financial regulators to expedite the resolution of claims and appealed for support from civil society and the media.

NDIC's Managing Director, Thompson Sunday, stated that some depositors remain untraceable due to the bank's inheritance of accounts from legacy institutions.