Tuesday, September 16, 2025
Home Business CBN REVOKES HERITAGE BANK PLC LICENCE.

CBN REVOKES HERITAGE BANK PLC LICENCE.

The Central Bank of Nigeria has revoked the banking licence of Heritage Bank Plc, effective immediately.
This decision was made due to the bank’s failure to improve its financial performance, posing a threat to financial stability.
The apex bank’s Acting Director of Corporate Communication Department, Sidi Ali, disclosed this in a statement.
According to the CBN,” the bank’s management has been unable to stem the decline despite various supervisory steps taken by the regulator. With no reasonable prospects of recovery, the CBN has taken this action to protect the financial system and maintain public confidence.
The Nigerian financial system remains on a solid footing”
 She says, the Apex bank is  committed to ensuring the safety and soundness of the financial system.
Adding that, The Nigeria Deposit Insurance Corporation has been appointed as the liquidator of Heritage Bank, following The Banks and Other Financial Act 2020.
This move is seen as a significant step by the CBN to maintain the stability of the financial system and protect depositors’ funds. The public has been assured that the revocation of Heritage Bank’s license will not impact the overall health of the financial system.
RELATED ARTICLES

BANKING, FINTECH TOP CONSUMER COMPLAINTS IN NIGERIA – FCCPC REPORT. Commission recovers ₦10 billion for aggrieved customers

BANKING, FINTECH TOP CONSUMER COMPLAINTS IN NIGERIA - FCCPC REPORT. Commission recovers ₦10 billion for aggrieved customers   The Federal Competition and Consumer Protection Commission says...

NAICOM, FINTECH ASSOCIATION PARTNER TO DRIVE INSURANCE DIGITALIZATION

  In a move to accelerate the digital transformation of Nigeria’s insurance sector, the National Insurance Commission (NAICOM) has entered into collaboration with the FinTech...

CBN GOVERNOR CARDOSO REAFFIRMS COMMITMENT TO STABILITY, STRONGER BANKS, AND INVESTMENT GROWTH.

 The Governor of the Central Bank of Nigeria (CBN),  Olayemi Cardoso, has restated the Bank’s commitment to sustaining macroeconomic stability, strengthening the banking sector,...

Most Popular

FG MOVES TO REVITALIZE SILOS CONCESSION PROGRAMME TO BOOST FOOD SECURITY

  The Federal Government says it is set to revitalize the Silos Concession Programme as part of efforts to curb post-harvest losses, strengthen food storage...

INDIAN BUSINESSMAN, THREE OTHERS ARRESTED OVER N3.9BN TRAMADOL AT LAGOS AIRPORT …AS NDLEA UNCOVERS SKUCHIES FACTORY, NABS COUPLE WITH 19KG DRUGS IN ANAMBRA,...

The National Drug Law Enforcement Agency (NDLEA) has arrested an Indian businessman, Gupta Ravi Kumar, and three Nigerian accomplices over the importation of 2,248,000 pills...

DICAN HONOURS NDLEA BOSS FOR INNOVATIVE FIGHT AGAINST ILLICIT DRUGS.

The Chairman and Chief Executive of National Drug Law Enforcement Agency, (NDLEA) Brigadier General, Mohammed Buba Marwa (rtd) has lay his weight behind the...

BANKING, FINTECH TOP CONSUMER COMPLAINTS IN NIGERIA – FCCPC REPORT. Commission recovers ₦10 billion for aggrieved customers

BANKING, FINTECH TOP CONSUMER COMPLAINTS IN NIGERIA - FCCPC REPORT. Commission recovers ₦10 billion for aggrieved customers   The Federal Competition and Consumer Protection Commission says...

Recent Comments