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JUST IN: NDIC Gives N5m Each To Defunct Heritage Bank Customers

The Nigeria Deposit Insurance Corporation says it has disbursed the insured deposits of N5 million each to 82.36 per cent of the total customers of the defunct Heritage Bank.
It also noted that 17.64 per cent of the insured deposits still pending payment mainly belong to depositors with accounts that have Post-No Debits instructions or lack a Bank Verification Number.
This was disclosed in a statement signed by the Director, Communication and Public Affairs, Bashir Nuhu, on Sunday in Abuja.
On June 3, 2024, the Central Bank of Nigeria revoked the banking license of Heritage Bank Plc due to persistent financial instability and regulatory breaches.
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The decision, according to the apex bank, is in line with the CBN’s mandate under Section 12 of the Banks and Other Financial Institutions Act 2020, which aims to maintain a stable financial system in Nigeria.
Following the withdrawal of Heritage Bank’s licence, the NDIC stated that it would begin payment of the 2.3 million depositors of the bank.
Giving an update in the statement issued on Sunday, the director disclosed that disbursement to affected customers started four days after the liquidation.
He added that this feat was achieved using Bank Verification Numbers as a unique identifier to locate depositors’ alternate accounts in other banks.
READ ALSO: NDIC Announces Date For Refund Of Heritage Bank Customers
The statement read in part, “In the discharge of its deposit guarantee mandate, the Corporation began the payment of the insured deposits of N5m maximum per depositor within a record time of four days of the bank closure.
“This was achieved using Bank Verification Numbers as a unique identifier to locate depositors’ alternate accounts in other banks.
“This unprecedented achievement of direct payment through BVN-linked alternate accounts without the need for depositors to visit NDIC offices or fill out forms marks a historic shift for the NDIC in the prompt reimbursement of depositors with payment of about 82.36 per cent of the total insured deposit to date.”
For depositors with more than N5m, the director explained that the remaining balances (classified as uninsured deposits) would be paid as liquidation dividends upon realization of the defunct bank’s assets and recovery of debts owed to the defunct bank.
“It is instructive to state that, the remaining 17.64 per cent of the insured deposits yet to be paid were largely depositors whose accounts have post no debits instructions or have no BVN. Others are those with no alternative accounts in other banks or accounts with a KYC limit on the maximum lodgment per day and are yet to come forward for verification.
“However, depositors with balances exceeding Five Million Naira have been paid the initial insured sum of Five Million Naira, while the remaining balances (classified as uninsured deposits) will be paid as liquidation dividends upon realization of the defunct bank’s assets and recovery of debts owed to the defunct bank,” the statement added.
News
Court Remands Man Who Beat Wife In Viral Video
A 57-year-old sawmiller, Fatai Quadri, who was seen in a viral video assaulting his wife, 50-year-old Rukayat Quadri, was on Monday remanded at the Correctional Centre at Ijebu Ode till October 17 for further hearing into the suit instituted against him by the police before the Ijebu Ode Magistrate Court.
Quadri, according to documents made available to our correspondent on Tuesday during his arraignment, was charged with a count bordering on assault, domestic violence, and breach of peace, among others.
The charge sheet reads “That you Quadri Fatai Abiodun ‘m on the 15/09/2025 at about 0600hrs at No: 11, Bakare Street, Oke-Owa, Ijebu-Ode, Ogun State in the Ijebu-Ode Magisterial District did wilfully and unlawfully assault Mrs Rukayat Quadri 50yrs your wife, by beating her with a stick and several fist blow all over her body, which caused her bodily injuries and thereby committed an offence punishable under Section 355 of the criminal code, Vol.1, Laws of Ogun State of Nigeria, 2006.
“That you Quadri Fatai Abiodun “M’ on the same date, time and place in the aforementioned Magisterial District did unlawfully beat Mrs Rukayat Quadri 50yrs your wife and by so doing committed “Domestic Violence” an offence punishable under Section 21(1) of the Violence Against Persons Prohibition Law, Laws of Ogun State of Nigeria, 2017.
“That you Quadri Fatai Abiodun ‘m’ on the same date, time and place in the aforementioned Magisterial District did unlawfully assault, beat and caused injuries to Mrs Rukayat Quadri 50yrs your wife and thereby committed an offence punishable under section 4(1) of the Violence Against Persons Prohibition Law, Laws of Ogun State of Nigeria, 2017.
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“That you Quadri Fatai Abiodun ‘m’ on the same date, time and place in the aforementioned Magisterial District did intentionally intimidated, injured and threatened to the life of Mrs Rukayat Quadri 50yrs your wife not to go on the land you built 10 Rooms and Parlour Self Contains with Other Flats or otherwise and thereby committed an offence Punishable under Section 86 of the Criminal Code Vol. 1, Laws of Ogun State of Nigeria, 2006.
“That you Quadri Fatai Abiodun ‘m’ on the same date, time and place in the aforementioned Magisterial District did willfully and unlawfully conduct yourself in a manner likely to cause the breach of public peace by using a stick with several fist blows to beat and injured Mrs Rukayat Quadri 50yrs your wife and thereby committed an offence punishable under Section 249(1) (d) of the Criminal Code Vol. 1, Laws of Ogun State of Nigeria, 2006”
Magistrate P O Odunsi has, however, adjourned the matter till October 17 for further hearing into the bail application of the suspect.
The Ogun State Police Command had on Saturday confirmed arresting Fatai seen in a viral video violently assaulting his wife, Rukayat, at their residence in Illese-Ijebu on the 15th of September, 2025.
Quadri, who was seen inflicting fist blows on the victim, resulting in bodily harm, was said to have been promptly apprehended by operatives of the Igbeba Divisional Police Headquarters, Ijebu Ode.
READ ALSO:Police Detain Lagos NURTW Leader For Killing Resident
The spokesperson of the state police command, Omolola Odutola, disclosed this in a statement sent to journalists on Saturday.
Odutola said that “Preliminary investigation revealed that the assault stemmed from a marital dispute arising from allegations of infidelity.
“The investigation further indicated that the suspect had transferred ownership of a 10-room en-suite apartment, jointly built with his wife, to another woman, which provoked the violent attack.
“The victim is presently receiving medical treatment, while the suspect remains in custody and will be charged in court upon conclusion of the investigation”
The Commissioner of Police, Lanre Ogunlowo, however, used the opportunity to reiterate the command’s zero tolerance for domestic violence and warned that anyone found culpable of such an act will face the full wrath of the law.
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Speaking over the incident, the Commissioner for Justice and Attorney General of the state, Oluwasina Ogungbade, SAN described the incident as very reprehensible, saying that the government was unhappy with such criminal acts and that the suspect, who is already in police custody, would be taken to court on Monday.
Ogungbade explained that “the government is aware of the viral video and we condemn it in its totality. The suspect is in police custody already.
“The Commissioner of Police, Lanre Ogunlowo, has been very proactive concerning it.
“The matter is being transferred to the Gender Unit. He will be arraigned in Court on Monday”
The Attorney General said that the state government has always warned against all sorts of criminal acts, particularly gender-based violence and that this particular incident will be another opportunity to drive home the present administration’s posture of zero tolerance to such condemnable acts.
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The Commissioner for Women Affairs and Social Development, Adijat Adeleye, also said that she had already briefed one of the state officials to follow up on the incident, pledging that the government would ensure justice is served on the matter.
Adeleye said that “The government is not happy with such criminal acts, our position has always been zero tolerance to gender-based violence. Definitely, the suspect will account for his misdeeds, justice will be served, I assure the residents of the state.
“Already he has been picked up by the police and should be taken to court on Monday; the ministry officials will be there to lend our support and ensure that justice is served.”
News
Barca’s Gavi To Miss Up To Five Months After Knee Surgery
Barcelona midfielder Gavi is set to miss up to five months after undergoing surgery on a knee injury, the club said Tuesday.
“Gavi has had an arthroscopy to resolve a medial meniscus injury, which was sutured to preserve the meniscus. Recovery time is estimated at around 4-5 months,” Barcelona said in a statement.
The 21-year-old Spain international suffered a torn cruciate ligament in 2023 in the same knee.
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Gavi has not played since August, with Barcelona initially hoping conservative treatment would resolve the problem, without needing to resort to surgery.
Barca travel to face Real Oviedo on Thursday in La Liga before welcoming Real Sociedad on Sunday, and then hosting Paris Saint-Germain next week in the Champions League.
Gavi is not set to return until early 2026, a year in which Spain are likely to be among the favourites to win the World Cup in the United States, Mexico and Canada.
AFP
News
DSS Grills Malami Over Attack On His Convoy In Kebbi
The Department of State Services, DSS, has invited and interrogated former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, in connection with the attack on his convoy in Kebbi State.
Recall that Malami’s convoy was attacked by suspected political thugs in Birnin Kebbi on September 1, 2025, shortly after he returned from a condolence visit to the family of the late Chief Imam of Dr Bello Haliru Jumu’ah Mosque.
In a post on his Facebook page on Monday, Malami confirmed that he had honoured the invitation to support the DSS investigation.
READ ALSO:JUST IN: Ex-AGF Malami’s Convoy Attacked In Kebbi [PHOTOS]
“I can confirm that I have been invited by the Department of State Services, DSS, to support investigation over the attack on my person and convoy in Kebbi State on the 1st of September, 2025,” he wrote.
Malami alleged that the petition which prompted the DSS invitation was instigated by opposition political figures in the state.
However, he commended the DSS for the professional and transparent manner in which the inquiry was conducted. “I was treated with dignity and respect, and I remain committed to cooperating fully with the Department to ensure that their investigation is concluded successfully,” he added.
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