A group of former depositors of Heritage Bank, known as “Heritage Bank Depositors of N5 million and Above”, has written an open letter to President Bola Ahmed Tinubu, seeking his intervention in the payment of their deposits. The group, comprising over 200 depositors with N5 million and above, expressed their grief over the closure of the bank and the alleged evasive tactics of the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC).
The depositors lamented that they have been left in a state of financial distress, with their livelihoods and businesses hanging in the balance. They claimed that the CBN and NDIC have visited upon them a difficult existence without their hard-earned deposits, despite the President’s efforts to assist citizens with palliatives and other forms of assistance.
One of the depositors, Sir John Paul Chukwu, a major dealer in cosmetics, shared his personal ordeal with The Pointer, stating that the situation has affected him badly. He expressed his inability to procure new consignments, leading to a loss of customers, and struggled to pay his children’s school fees and his sick father’s medical bills.
The group’s letter proposed that the CBN extend a loan to the NDIC to facilitate the prompt settlement of depositors’ claims, with the expectation that the principal amount would be recuperated through the eventual disposal of Heritage Bank’s assets. They also requested that the President direct the CBN to pay all depositors in full without further delay, advise a few other banks to absorb the depositors, and utilize Heritage Bank’s Cash Reserve Ratio to settle depositors’ claims.
The depositors appealed to President Tinubu to intervene and assist in resolving the issue, ensuring justice and fairness. They expressed confidence in his leadership and urged him to verify NDIC’s claim of paying the insured sum to 85% of depositors and ensure prompt payment to all eligible depositors.
