The Nigeria Deposit Insurance Corporation (NDIC) has provided an explanation for why certain depositors from the now-defunct Heritage Bank have not yet received payment for their covered savings.
Bello Hassan, the NDIC’s managing director and chief executive officer, stated that the depositors had not received their payments because they had failed to provide their alternative bank accounts at the start of a three-day retreat for senior management and executive staff in Kano on Friday, January 10th.
He added that although the NDIC had used the impacted depositors’ Bank Verification Number (BVN), it was unable to find their other bank accounts in the system.
In order to be validated, recognised, and compensated, he urged the impacted depositors to get in touch with the NDIC zonal offices in their area.
According to him, the workshop, which was organised in partnership with the Bureau of Public Procurement (BPP), is specialised training for senior staff members with the goal of guaranteeing effectiveness, responsibility, and transparency for financial management and procurement.
TimesNow.com.ng reported that the Nigeria Deposit Insurance Corporation (NDIC) asked bank customers to ensure that their KYC details are up to date to ensure smooth transactions and prompt payment in case of bank failure.
The NDIC managing director, Bello Hassan, disclosed this at the 2024 NDIC Editors’ Forum.
The NDIC boss stressed the importance of updated KYC in the Nigerian financial system.
Proofreading by Nkem Ikeke, journalist and copy editor at TimesNow.com.ng.
Source: TimesNow.com.ng
