Three weeks after the revocation of Heritage Bank, customers of the defunct bank have raised alarm over the delayed payment of their trapped deposits by the Nigerian Deposit Insurance Corporation (NDIC).

Uju Ogunbunka, the President of the Bank Customers’ Association of Nigeria, disclosed this in an exclusive interview with Daily Post on Wednesday.

Speaking with DAILY POST, Ogunbunka said NDIC should not procrastinate on the payment to depositors of the defunct bank.

He explained that NDIC may be facing challenges which are causing the delay in payments to customers of the defunct bank.

“Yes, customers are complaining of delays in payment by NDIC. I am aware that NDIC is working to ensure that payments are made. The issue is that promises should not be made hastily without thoroughly assessing the situation.

“It seems NDIC is encountering challenges in processing the payments. This is likely the reason for the delay. Otherwise, why would NDIC delay payments? They have the alternate bank accounts of depositors. There must be issues NDIC is trying to resolve to avoid errors in payment,” he said.

Bashir Hassan, the spokesperson for NDIC, did not respond to our inquiries as of the time of filing this report.

Recall that NDIC commenced the liquidation process of the failed Heritage Bank following its revocation by the Central Bank of Nigeria on June 3, 2024.

To address this, NDIC assured the 2.3 million depositors of defunct Heritage Bank of imminent payments a week ago.

Bello Hassan, the Managing Director of NDIC, made this disclosure in a statement.

According to him, 99.9 percent of depositors from the defunct bank had balances of less than N5 million, while only 4,000 depositors had balances exceeding N5 million.

However, two weeks later, depositors of the defunct bank are still awaiting their payments, causing anxiety among affected customers.

Although NDIC assured depositors that payments would be made through their alternate bank accounts linked to their Bank Verification Numbers (BVN), the delay has left affected customers worried.

Meanwhile, the Pension Transitional Arrangement Directorate (PTAD) on Tuesday called on Defined Benefit Scheme (DBS) pensioners with pension bank accounts domiciled in the defunct Heritage Bank to provide alternative bank account details to ensure uninterrupted receipt of their monthly pensions.