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The Guardian - UK
The Guardian - UK
Business
Lauren Almeida and Zoe Wood

NS&I boss forced out as bank faces £470m payout over missing savings

NSI
Harkins in a suit and open-necked shirt
Dax Harkins resigned on Thursday as the bank was accused of a series of errors dating back several years. Photograph: NS&I

The chief executive of the state-backed National Savings and Investments bank has been forced out over a scandal that left thousands of bereaved families owed almost £500m.

The savings institution is in discussions with the Treasury to repay about 37,500 people who collectively have £470m in deposits trapped in the bank after long-running operational errors.

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