NDIC has declared a second liquidation dividend of N24.3 billion for depositors of the defunct Heritage Bank Ltd.
NDIC said the payment of the insured sum had been ongoing, and it had continued to pay the depositors their insured sum.
The Nigeria Deposit Insurance Corporation says it would begin the payment of the first tranche of liquidation dividends to depositors of Heritage Bank from April.
NDIC managing director Bello Hassan gave the reassurance on Saturday during the 2024 edition of the NDIC Editors Forum in Lagos.
He said that the corporation had been helpful in maintaining stability within the financial sector.
The NDIC boss explained that the prompt payment of depositors had boosted confidence in the banking industry.
Mr Hassan said the bank had preliminary deposits of N650 billion and a loan worth N700 billion.
The expert urged CBN to re-strategise and strengthen its regulatory framework in the financial sector so as to prevent such crisis in banks in future.
CBN on Monday revoked the banking licence of unlisted lender Heritage Bank due to a breach of banking regulations.
Nigerians have long insisted that the presidential candidate should come clean on his involvement in the case, which saw him forfeit up to $460,000 to American authorities in 1993.
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