CBN revokes Heritage Bank’s licence, appoints liquidator

CBN Acting Director, Corporate Communications, Hakama Sidi Ali, who disclosed this in a statement dated June 3, 2024, said the

The Central Bank of Nigeria has appointed the Nigeria Deposit Insurance Corporation as liquidator of Heritage Bank following the withdrawal of the bank’s operating licence. The Acting Director, Corporate Communications of the CBN , Mrs. Hakama Sidi Ali, disclosed this in a statement on Monday, saying the withdrawal of the operational license of Heritage…

The statement read in part: “The Central Bank of Nigeria , in accordance with its mandate to promote a sound financial system in Nigeria and in exercise of its powers under Section 12 of the Banks and Other Financial Act 2020, hereby revokes the licence of Heritage Bank Plc with immediate effect.” “Regrettably, the bank has continued to suffer and has no reasonable prospects of recovery, thereby making the revocation of the license the next necessary step.

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