Nigeria Deposit Insurance Corporation Declares Heritage Bank Dividend
Analysis based on 9 articles · First reported Jan 12, 2026 · Last updated Jan 13, 2026
The declaration of a second liquidation dividend by Nigeria — Nigeria Deposit Insurance Corporation for Heritage Bank Limited depositors provides some relief to those affected by the bank's failure. This event highlights the regulatory framework in Nigeria for handling failed financial institutions, which can instill confidence in the broader banking sector.
The Nigeria — Nigeria Deposit Insurance Corporation has declared a second liquidation dividend of N24.3 billion for depositors of the defunct Heritage Bank Limited whose account balances exceeded the statutory insured limit of N5 million. This follows the revocation of Heritage Bank Limited's operating license by the Nigeria — Central Bank of Nigeria on June 3, 2024, after which Nigeria — Nigeria Deposit Insurance Corporation was appointed as liquidator. The funds for this dividend were generated from debt recovery, sale of physical assets, and realization of investments belonging to Heritage Bank Limited. This payment brings the cumulative liquidation dividend declared to date to 14.4 kobo per N1.00. Nigeria — Nigeria Deposit Insurance Corporation previously disbursed a first liquidation dividend of N46.6 billion in April 2025. Further payments are expected as more assets are realized and outstanding debts are recovered, with depositors prioritized over other creditors and shareholders.
Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.
Open Dashboard