Heritage bank depositors appeal to govt. to ensure safety of funds

Following the revocation of the banking license of Heritage Bank by the central bank of Nigeria, customers of the bank have appealed to government to provide a seamless means of getting their money in the bank.

The customers in their numbers besieged the Osogbo branch of the bank lamenting the untold hardship the development has caused them.

They recalled some of the challenges they faced recently in the operation of the bank before its license was revoked few days ago.

According to them, the Automated Teller machines and online banking services of the bank had been closed long before now.

The Central bank of Nigeria on Monday had announced the revocation of the bank’s license due to failure to improve its financial performance, posing a threat to financial stability.

This follows a period during which the CBN engaged with the bank and prescribed various supervisory steps intended to stem the decline.

The CBN in a statement said “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.

“Consequently, the CBN has taken this action to strengthen public confidence in the banking system and ensure that the soundness of our financial system is not impaired”.

The Nigeria Deposit Insurance Corporation (NDIC) was appointed as the Liquidator of the bank in accordance with Section 12 (2) of BOFIA, 2020 to which it announced that it has commenced liquiddation process of the faile bank with immediate effect.