The Nigeria Deposit Insurance Commission (NDIC) has said it will begin payment to the 2.3 million depositors of Heritage Bank this week.
Managing Director of NDIC, Bello Hassan, disclosed this at a press briefing in Abuja, on Wednesday.
According to him, the bank initially held deposits totalling N650 billion and loans amounting to N700 billion
He further disclosed that at the time its license was revoked, the bank had 116 branches across the country.
Hassan further revealed that 99.9 per cent of the depositors of the defunct bank had balances of less than N5 million while 4,000 depositors had balances exceeding N5 million.
