The Nigeria Deposit Insurance Corporation has said it will begin paying insured sums to 2.3 million depositors of Heritage Bank in liquidation this week.
The managing director of NDIC, Bello Hassan, said this while briefing journalists in Abuja on Wednesday.
Mr Hassan said the bank had preliminary deposits of N650 billion and a loan worth N700 billion.
According to him, 99.9 per cent of depositors of the defunct bank have a deposit balance of less than N5 million, while only 4,000 of the depositors have more than N5 million in deposits.