Heritage Bank Staff Protest Non Payment Of Salaries Before CBN Liquidation ~ OsazuwaAkonedo #cbn #Heritage #NDIC https://osazuwaakonedo.news/heritage-bank-staff-protest-non-payment-of-salaries-before-cbn-liquidation/18/07/2024/ #Issues Published: July 18th, 2024 Reshared: July 18, 2024 12:32 pm Staff of Heritage Bank that was recently revoked its licence of operations as one of the
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00:00Staff of Heritage Bank that was recently revoked its license of operations as one of the Nigeria
00:04Commercial Banks by the Central Bank of Nigeria, CBN, have staged early morning protests at the
00:09entrance to the National Assembly Complex in Abuja, asking the lawmakers to intervene so
00:12that their salaries can be paid. According to the protesting staff of the liquidated bank,
00:16the salary for the month of June was not paid before CBN stopped the bank from operation.
00:21The staff also said the Seguran's packages and access to their savings are also concerned for
00:25them, appealing to the National Assembly to intervene. The protesters held placards with
00:29different inscriptions in front of the National Assembly. The agreed staff said that the Nigerian
00:34Deposit Insurance Corporation, NDIC, has refused them access to their savings, insisting that
00:39their funds are not insured. The group said they want the Central Bank of Nigeria to grant them
00:43access to their trapped funds in their various accounts in the liquidated Heritage Bank to
00:47cushion the effects of their sudden job losses. Meanwhile, the Nigerian Deposit Insurance
00:51Corporation, NDIC, has commenced the liquidation of Heritage Bank PLC and began processes for
00:56customers to pay back in line with the savings insurance policies. The insurer of depositors'
01:00funds in Nigeria, NDIC, made this known in a statement issued earlier in the month shortly
01:05after the Central Bank of Nigeria, CBN, revoked the commercial bank license of Heritage Bank PLC.
01:10The EPEX Bank also appointed the NDIC as the liquidator of the failed bank according to
01:15Section 12.2 of BOFIA, 2020. A spokesperson for the NDIC, Bashir Nuhu, assured depositors with
01:22an insured amount of 5 million nairas that they would get their money through alternate banks.
01:26Depositors of the bank with alternate accounts within the industry will be paid up to the
01:29insured amount of 5 million nairas per depositor using their Bank Verification Number, BVN,
01:34to locate their alternate account. While depositors with funds above 5 million nairas will be paid
01:38liquidation dividend upon realization of the bank's assets and recovery of debts owed to the bank,
01:43the statement partly read. In line with the statement, step-by-step process to reclaim
01:47funds included that all depositors of the defunct bank without alternate bank account in the industry
01:52were advised to follow the procedure stated below. Visit the nearest branch of the bank with proof of
01:57account ownership, verifiable means of identification such as driver's license,
02:01permanent voter's card, national identity card, together with their alternate account and Bank
02:06Verification Number, BVN, for the verification of their deposits and subsequent payment of
02:10insured sums. File online claims by visiting the NDIC website claims page on http://www.indig.gov.ng
02:18slash claims slash claims. Download and fill the claims forms and upload the required documentation.
02:22The NDIC wishes to assure the entire banking public of its commitment to the continued safety
02:27of depositors' funds in all licensed banks. As such, depositors are urged to continue their
02:32banking businesses without fear as banks whose licenses have not been revoked remain safe and
02:36sound, the statement concluded. Creditors are advised to visit the nearest branch of the bank
02:41to file their claims or via the online platform. Please note that the process of payment of
02:45creditors will commence immediately after all depositors have been paid. Debtors who have yet
02:49to repay loans are advised to contact the Corporation's Asset Management Department,
02:53AMD. Visit the NDIC website for more details according to the statement.