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NDIC Declare N24.3b Dividend for Heritage Bank Depositors
The Nigeria Deposit Insurance Corporation (NDIC) has announced a second liquidation dividend of ₦24.3 billion for depositors of the defunct Heritage Bank Limited.
Previously, the NDIC paid a first liquidation dividend of ₦46.6 billion in April 2025, calculated at 9.2 kobo per ₦1.00. That payment was made on a pro-rata basis to depositors whose balances exceeded the statutory insured limit of ₦5 million at the time the bank was closed.
The corporation explained that it has continued asset recovery efforts to enable further compensation for affected depositors. As part of this process, NDIC said it has now approved an additional liquidation dividend of ₦24.3 billion.
According to the NDIC, the funds were generated through debt recovery, disposal of physical assets, and the realisation of investments. The amount will be applied to outstanding uninsured balances of depositors with funds above the ₦5 million insured threshold.
The second liquidation dividend will be paid at a rate of 5.2 kobo per ₦1.00 on remaining balances, in line with Section 72 of the NDIC Act, 2023. This brings the total liquidation dividend declared so far to 14.4 kobo per ₦1.00.
The corporation noted that payments will be processed using depositors’ existing records. Eligible depositors who have already received their insured deposits and the first tranche of liquidation dividends will have their alternative bank accounts credited automatically through their Bank Verification Numbers (BVN).
NDIC advised depositors to check their accounts for confirmation. Those without alternative bank accounts or BVNs, or who have not yet claimed their insured deposits of up to ₦5 million or the first liquidation dividend, were directed to visit the nearest NDIC office or complete the e-claim form on the corporation’s website.
The NDIC emphasised that the payment represents only the second liquidation dividend, adding that further disbursements will be made as more assets are realised and outstanding debts recovered. The corporation reaffirmed its commitment to the prompt recovery of assets and timely reimbursement of depositors.
Kano State Governor, Abba Kabir Yusuf, has approved a new round of appointments and promotions with immediate effect, as part of efforts to strengthen governance and enhance institutional performance in the state.
The development was announced in a statement released on Monday by the governor’s spokesperson, Sunusi Bature Dawakin Tofa.
According to the statement, Abubakar Ibrahim Matawalle has been appointed as the Acting Director-General of the Kano State Pilgrims Welfare Board. Matawalle, a retired permanent secretary, previously served in a similar role and also held office as the board’s executive secretary. He was described as a seasoned administrator who rose through the civil service ranks from Assistant Secretary to Permanent Secretary before retiring in 2014, after eight years in the position. The statement noted his strong track record in the effective management of Hajj operations.
Governor Yusuf also approved the promotion of Yusuf Mukhtar to the rank of Permanent Secretary.
In another appointment, Barrister Rahama Malam Alhaji was named Provost of the Kano State Anti-Corruption Institute. She was praised as an accomplished legal practitioner with over seven years’ experience spanning litigation, corporate law, electricity law, regulatory compliance and dispute resolution. The statement highlighted her professional background across both public and private sectors, including her time at the Kano Electricity Distribution Company and her role as Head of the School of Law at Maryam Abacha American University of Nigeria. She holds a Master of Laws degree in International Law and was credited with pioneering initiatives such as the establishment of a Law Clinic and a Student Bar Association.
The governor further approved the promotion of veteran Kannywood actress Aina’u Ade from Special Assistant to Senior Special Assistant on Kannywood Affairs, citing her impressive performance and dedication in her previous assignment.
The statement said the latest appointments and promotions reflect the administration’s resolve to reinforce governance structures and ensure the efficient management of public institutions. Governor Yusuf urged the beneficiaries to justify the confidence reposed in them through diligence, transparency and unwavering commitment to the Kano First Agenda.
The Nigerian Institute of Medical Research (NIMR) has issued a public alert over a fraudulent LinkedIn account impersonating its Director-General, Professor John Oladapo Obafunwa, urging Nigerians to disregard and report any communication linked to the fake profile.
In a statement released on Saturday by the Institute’s Media Consultant, Mr Sam Eferaro, NIMR disclosed that the impostor account has been sending misleading messages to unsuspecting individuals, falsely offering procurement opportunities, contracts and other business-related engagements.
According to the statement, the attention of the Institute was drawn to the existence of the fake LinkedIn profile posing as the Director-General, adding that all messages emanating from the account are entirely fraudulent.
NIMR cautioned members of the public against engaging with any messages purportedly sent by Professor Obafunwa through LinkedIn or other unofficial platforms, particularly those soliciting business dealings or financial commitments.
The Institute further emphasised that all legitimate interactions with vendors, contractors, partners and the public are conducted strictly through recognised and official institutional channels, in line with established public service procedures.
The Pentecostal Fellowship of Nigeria (PFN) has dismissed calls by the Supreme Council for Shari’ah in Nigeria demanding the removal of the Chairman of the Independent National Electoral Commission (INEC), Prof. Joash Amupitan, over comments he allegedly made concerning genocide.
In a statement issued on Sunday and signed by its National Secretary, Bishop David Bakare, the PFN described the demand as unfounded and unjustifiable, stressing that Prof. Amupitan, like every Nigerian, is constitutionally entitled to express opinions on matters of national interest, regardless of his public office.
The Fellowship maintained that the remarks attributed to the INEC chairman had no link to his official duties, noting that they were unrelated to elections or electoral processes, which fall within the scope of his professional responsibilities.
“We strongly oppose such calls because Prof. Amupitan, as a citizen of Nigeria, has the right to speak on issues he perceives as affecting the nation, irrespective of his appointment or position,” the statement said.
PFN further condemned suggestions that the INEC chairman should be removed on the basis of personal views expressed outside his official mandate, warning that such actions could set a dangerous precedent where public officials are penalised for holding or expressing independent opinions.
The organisation also cautioned against interpreting national discourse through religious perspectives, arguing that such an approach risks deepening societal divisions and threatening peaceful coexistence.
“We must guard against profiling individuals or judging them based on religious considerations. Prof. Amupitan has the right to express his views, and this should not come at the expense of his office,” the statement added.
The Fellowship urged stakeholders to exercise restraint and mutual respect in addressing sensitive national issues, emphasising that unity, fairness, and peaceful engagement must remain central to public discourse.
PFN reaffirmed its commitment to justice and national cohesion, calling on Nigerians to uphold democratic values in responding to differing opinions on matters affecting the country.