Depositors will not lose funds to failed transactions, NDIC assures

He said the NDIC remains committed to making sure all depositors and stakeholders do not pose their funds at any failed banks, if at all there is any.

“The NDIC also remains committed to fulfil its mandate and expectations which it has been doing in the last 35 years of its existence to ensure we create impact and boost depositors’ confidence in the banking industry, which is why we are reiterating that every verified customer with NIN from the failed Heritage Bank will receive his payment,” he said.

Hassan said the innovative approach enabled the NDIC to settle insured depositors of Heritage Bank, whose license was revoked by the Central Bank of Nigeria (CBN) in June 2023.

“So far, 93 percent of depositors with balances below N5Million have been compensated,” Hassan said.

He urged banks not to become complacent but to continue building on the corporation’s core mandate to achieve greater success.

Hassan emphasised that NDIC stakeholders are their priority in their service delivery.

“As you are all aware, Customer Service Week is an international celebration that recognizes the vital importance of customer service and the individuals who serve and support customers daily,” Hassan said.

“This year’s theme, ‘Above and Beyond’ encapsulates the spirit of collaboration and the unwavering commitment of the Corporation to service delivering to our stakeholders.”

He called on stakeholders to collaborate and focus on ensuring excellent service delivery to customers.