### NDIC Declares N24.3 Billion Second Liquidation Dividend for Heritage Bank Depositors The Nigeria Deposit Insurance Corporation (NDIC) has announced a second liquidation dividend of N24.3 billion for depositors of the defunct Heritage Bank Limited. This payout is aimed at depositors whose account balances exceeded the insured limit of N5 million at the time of the bank's closure. The NDIC's decision follows the recovery of assets, including the sale of physical assets and debt recovery efforts, which have allowed for this additional distribution to affected customers. This dividend comes after an earlier payout of N46.6 billion in April 2025, which was distributed at a rate of 9.2 kobo per N1.00 [https://dailypost.ng/2026/01/12/defunct-heritage-bank-ndic-declares-n24-3bn-second-liquidation-dividend-to-depositors]. ### Breakdown of the Liquidation Dividend Announcement 1. **Dividend Amount and Rate**: - The NDIC has declared a second liquidation dividend of **N24.3 billion**. - The payout will be made at a rate of **5.2 kobo per N1.00** on uninsured balances exceeding N5 million [https://www.legit.ng/business-economy/industry/1691951-heritage-bank-collapse-ndic-releases-n243bn-second-dividend-depositors-n5m]. 2. **Background of Heritage Bank**: - Heritage Bank's operating license was revoked by the Central Bank of Nigeria (CBN) on **June 3, 2024**, leading to the NDIC's appointment as the liquidator [https://iyamagazine.com/ndic-declares-₦24-3bn-second-liquidation-dividend-for-heritage-bank-depositors]. - The first liquidation dividend was declared in **April 2025**, amounting to **N46.6 billion** [https://remotv.com.ng/ndic-declares-n24-3-billion-second-liquidation-dividend-for-heritage-bank-depositors]. 3. **Purpose of the Dividend**: - The second dividend aims to provide financial relief to depositors who had funds exceeding the insured limit, as part of ongoing efforts to recover and reimburse affected customers [https://newtelegraphng.com/defunct-heritage-bank-ndic-to-pay-n24-3bn-second-liquidation-dividend-to-depositors]. ### Supporting Evidence and Data - **Total Liquidation Dividends**: - **First Dividend**: N46.6 billion (April 2025) at 9.2 kobo per N1.00. - **Second Dividend**: N24.3 billion (January 2026) at 5.2 kobo per N1.00. - **Cumulative Dividend Rate**: 14.4 kobo per N1.00 across both payouts [https://premiumnewsng.com/2026/01/11/liquidationheritage-bank-customers-get-₦24-3bn-additional-dividend]. - **Eligibility**: - Only depositors with balances exceeding the statutory insured limit of **N5 million** are eligible for this second payout [https://thenews-chronicle.com/ndic-approves-n24-3bn-second-payout-to-heritage-bank-depositors]. ### Conclusion and Implications In summary, the NDIC's declaration of a **N24.3 billion** second liquidation dividend for Heritage Bank depositors is a significant step in addressing the financial impact of the bank's closure. This payout, alongside the previous dividend, reflects the NDIC's commitment to recovering assets and compensating depositors. 1. **Key Findings**: - The NDIC has successfully recovered assets to fund the second dividend. - The cumulative payout to depositors now totals **N70.9 billion**. - The ongoing efforts by the NDIC highlight the importance of deposit insurance in protecting customers. This initiative not only aims to alleviate the financial burden on affected depositors but also reinforces the regulatory framework surrounding banking operations in Nigeria [https://insidebusiness.ng/237715/defunct-heritage-banks-depositors-to-get-n24bn-second-dividend].