Depositors with salary or pension accounts at the now-defunct Heritage Bank may encounter difficulties accessing their funds unless they clear their status with the Nigeria Deposit Insurance Corporation (NDIC). The NDIC has announced that affected depositors must obtain a letter of non-indebtedness from the corporation and adhere to specific procedures before they can access their deposits at a new bank of their choice.
In a recent post shared on its microblogging platform X (@NDICNigeria) on August 8, the NDIC advised depositors to contact the corporation if they experience any challenges with the process. The advisory emphasized that depositors must present a letter of non-indebtedness from the NDIC to their employers to resolve any issues and ensure access to their funds in a new bank.
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To obtain the necessary letter, depositors are required to send a duly signed request to the Director of the Asset Management Department at the NDIC. This request must include the depositor’s Bank Verification Number (BVN), account number, and a copy of their national identity card.
After receiving the letter from the NDIC, depositors are instructed to present it to their employers to facilitate the transfer of their accounts to their desired alternative bank.
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The NDIC also encouraged depositors to send a direct message (DM) with their Heritage Bank information and their preferred alternative bank for payment of claims if they encounter any complaints or delays in payments.
Bashir Nuhu, the Director of Communications and Public Affairs at NDIC, explained to The Nation on Saturday that the advisory is part of the corporation’s statutory responsibility to assist depositors of defunct banks in accessing their trapped funds as smoothly as possible.
Nuhu stated, “We’ve been receiving requests from account holders and pensioners. Salary earners, in particular, have been complaining that they want to open new bank accounts, but the new banks are requesting a letter of non-indebtedness from Heritage Bank before they can proceed. Even if the bank is active, we would typically request such a letter before allowing someone to change their bank account for salary payments.”
He added, “As the liquidator managing the assets of the bank in liquidation, we review requests to ensure the person is not indebted. If they aren’t, we issue a letter of non-indebtedness so they can quickly open another bank account, allowing their salary or pension payments to continue without disruption.”
Nuhu urged affected account holders to take the notification seriously, warning that ignoring it could interfere with the smooth operation of their accounts. “This notification was necessary because we receive complaints daily on our various platforms. We decided to issue a general advisory so that people can resolve these minor issues and move forward.”
