In a move to safeguard the financial system and protect depositors’ funds, the Central Bank of Nigeria (CBN) has revoked Heritage Bank’s license, effective immediately.
The Nigeria Deposit Insurance Corporation (NDIC) has been appointed as the liquidator, ensuring a smooth transition.
This decision follows the CBN’s efforts to support the bank, but unfortunately, Heritage Bank’s condition has continued to deteriorate, making revocation the next necessary step.
The CBN reassures the public that this action will not impact the overall health of the financial system, which remains stable and sound.
This move demonstrates the CBN’s commitment to maintaining a safe and secure financial environment for all Nigerians.”
