Heritage Bank depositors demand full repayment of funds

The Concerned Heritage Bank Depositors Forum states that customers have faced prolonged financial uncertainty more than two years after the bank’s license was revoked on June 3, 2024, by the CBN due to its inability to improve its financial position. The NDIC was appointed as the bank's liquidator to recover assets and pay depositors. However, the group highlights that many customers still cannot access their legitimate funds, leading to significant financial difficulties for those whose deposits represent years of savings and income.

These trapped funds are needed for essential obligations such as school fees, medical treatment, business financing, and retirement expenses, impacting household finances and livelihoods. The depositors urge the Federal Government and financial regulators to intensify efforts to resolve outstanding claims and ensure eligible customers receive their funds, appealing to civil society organizations and the media for support. The Managing Director and Chief Executive Officer of the NDIC, Thompson Sunday, stated on August 5 in Lagos that some Heritage Bank depositors have not been traced because the bank inherited customer accounts from legacy institutions like Enterprise Bank, Spring Bank, and Guardian Express Bank, many of whic