Abuja: The Nigeria Deposit Insurance Corporation (NDIC) has urged members of the public to continue their banking activities without fear, assuring that all banks remain safe and sound. Hawwau Gambo, the Acting Head, Communication and Public Affairs Department of NDIC, reiterated the corporation’s commitment towards the safety of depositors’ funds in all licenced banks.
According to News Agency of Nigeria, Gambo stated that the corporation was responding to concerns raised by depositors of the defunct Heritage Bank whose balances exceeded the maximum deposit insurance limit of N5 million. She emphasized that significant progress has been made in reimbursing the insured deposits of N5 million maximum per depositor.
Gambo noted that depositors yet to receive their insured deposits are primarily those without Bank Verification Number (BVN) or alternate accounts in other banks. She explained that having an alternate account would allow the corporation to access the accounts from the Nigeria Inter-Bank Settlement System (NIBSS) database to facilitate payment.
Furthermore, Gambo highlighted that other depositors in this category are those with Post No Debit (PND) restrictions on their accounts. She also mentioned that some accounts have Know Your Customer (KYC) limitations, such as Tier One accounts that restrict the maximum lodgment of funds, while others have name mismatches that require resolution.
Gambo encouraged depositors with additional questions to contact the corporation via email at [email protected] or call the Claims Resolution Department between 9:00 a.m. and 5:00 p.m. at 0810 422 0807, 0810 931 3326, 0903 819 7064, or 0906 465 7140.