The Central Bank of Nigeria, CBN has revoked the banking licence of Heritage Bank due to inability of improve financial performance over the years which it pointed out as a threat to financial sustainability.
In a statement signed by the Actinflg Director of Corporate Communication, Mrs Hakama Sidi Ali on Monday, CBN ade it clear that it toom this action to restore and ensure public confidence in the banking system.
The statement also revealed that the apex bank engaged Heritage and prescribed steps to stop the decline but al to no avail.
It further appointed the Nigeria Deposit Insurance Corporation NDIC as thw liquidator of the bank.
Over a couple of weeks, customers at Heritage Bank have been unable to withdraw from their accounts. In Umuahia, Abia State, the bank allegedly resorted to paying N5,000 – N10,000 or lesser to customers no matter how much one has in their account.
