The Nigeria Deposit Insurance Corporation (NDIC) has announced a ₦24.3 billion second liquidation dividend for depositors of the defunct Heritage Bank with balances above the insured limit of ₦5 million. NDIC made the declaration in a statement issued on Sunday by its Head of Communication and Public Affairs Department, Hawwau Gambo. “It is in continuation …
The Nigeria Deposit Insurance Corporation (NDIC) has significantly shifted its approach to handling failed banks, marking a crucial step towards reducing the risks of moral hazard in the country’s financial sector. This shift is particularly evident in the recent liquidation of Heritage Bank and other recent failures, such as Aso Savings and Loans and Union …
