‘Pay us now’ — Heritage Bank depositors demand release of trapped funds

Aggrieved depositors of the defunct Heritage Bank have called on the Federal Government, the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) to expedite the payment of their outstanding funds, more than two years after the bank was shut down.

The depositors, under the Concerned Heritage Bank Depositors Forum, said prolonged delays in accessing their funds had subjected thousands of Nigerians to severe financial hardship.

The CBN revoked Heritage Bank’s banking licence on June 3, 2024, citing the bank’s inability to improve its financial performance and the lack of realistic prospects for recovery.

The apex bank subsequently appointed the NDIC as liquidator to manage the bank’s assets and settle claims by depositors.

However, in a statement titled, “Our Money, Our Right: Pay Heritage Bank Depositors Their Full Funds Now,” the depositors alleged that many customers were still unable to access their legitimate savings.

They said the affected funds represented earnings accumulated through years of work and financial planning, adding that the prolonged delay had affected families, businesses and individuals who depended on their savings.

According to the group, school fees, medical bills, business capital and retirement needs were among the major obligations being affected by the inability to access the funds.

The depositors said the matter had gone beyond a banking dispute, describing it as an issue of “trust, dignity and economic justice.”

They appealed to the Federal Government, CBN and NDIC to intervene and ensure the immediate payment of all legitimate outstanding claims.

The group also urged the media, civil society organisations and other stakeholders to support its campaign for what it described as financial justice.

The depositors said, “Behind every trapped account is a Nigerian family facing real hardship. Justice delayed is hardship prolonged.”

They added, “We saved responsibly. They must pay responsibly.”