Sunday, July 13, 2025
  • REPORT A STORY
  • PRIVACY
  • CONTACT US
WITHIN NIGERIA - NEWS PICKS
  • HOME
  • FEATURES
  • NEWS PICKS
    • BREAKING
    • National
    • Local News
    • Politics
    • Diaspora
    • Business
    • Education
    • Sports
    • World News
      • Africa
      • U.S
      • Asia
      • Europe
    • XTRA
  • ENTERTAINMENT
  • MORE
    • GIST
    • ARTICLES
    • VIDEOS
No Result
View All Result
WITHIN NIGERIA - NEWS PICKS
No Result
View All Result
  • HOME
  • FEATURES
  • NEWS PICKS
  • ENTERTAINMENT
  • MORE

BREAKING: CBN Revokes Heritage Bank License

The Abdul Yemi by The Abdul Yemi
June 3, 2024
in BREAKING, Business
Reading Time: 1 min read
0 0
A A
0
Share on FacebookShare on Twitter

The Central Bank of Nigeria(CBN)says its has revoked the operating licence of Heritage Bank.

This was contained in a statement by the Acting Director, Corporate Communications, CBN, Hakama Sidi Ali.

The statement reads: “The Central Bank of Nigeria, CBN, 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 (BOFIA) 2020, hereby revokes the licence of Heritage Bank Plc with immediate effect.

‘This action has become necessary due to the bank’s breach of Section 12 (1) of BOFIA, 2020.

READ ALSO

JUST IN: Sanwo-Olu, wife vote at Lagos Island polling unit in LG elections

BREAKING: Supreme court seals Okpebholo’s victory as Edo governor, trashes PDP’s appeal

BREAKING: Ex-APC chair Ganduje appointed FAAN board chairman

Dangote pledges climate fund support, hails Tinubu’s flood-control legacy

“The Board and Management of the bank have not been able to improve the bank’s financial performance, a situation which constitutes 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.

“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) is hereby appointed as the Liquidator of the bank in accordance with Section 12 (2) of BOFIA, 2020.

“We wish to assure the public that the Nigerian financial system remains on a solid footing. The action we are taking today reflects our continued commitment to take all necessary steps to ensure the safety and soundness of our financial system.”

POPULAR TODAY

    • All
    • National
    • Local News
    • Politics
    • World News
    • Sports
    • XTRA

    Natasha Akpoti writes national assembly, vows to resume plenary Tuesday

    July 12, 2025

    Primary election: Atiku, Obi, Amaechi, other ADC presidential aspirants to sign agreement

    July 12, 2025

    ADC tasks LASIEC on transparent LG poll, cites supreme court ruling

    July 12, 2025
    Donald Trump

    Trump didn’t lose $250,000 to Lagos Yahoo boy — Here’s what really happened

    July 5, 2025

    Discussion about this post

    ADVERTISEMENT

    LATEST

    Financial interventions: FG favours APC states, sidelines opposition-led ones – Bauchi Gov, Mohammed

    July 12, 2025

    LP tackles intimidation plot over Shettima’s remarks, backs VP on Rivers crisis stance

    July 12, 2025

    Okonjo-Iweala tasks NDDC on lasting economic solutions in Niger Delta

    July 12, 2025
    President Bola Tinubu

    After Saint Lucia, Brazil trip, presidency discloses when Tinubu will return to Nigeria

    July 12, 2025

    Jandor blames PDP’s Lagos defeat on weak grassroots, backs APC structure

    July 12, 2025

    You must investigate Obaseki, recover billions of dollars he stole: Oshiomhole tells Okpebholo

    July 12, 2025
    Load More
    NEWS PICKS — WITHIN NIGERIA

    WITHIN NIGERIA MEDIA LTD.

    NEWS, MULTI MEDIA

    WITHIN NIGERIA is an online news media that focuses on authoritative reports, investigations and major headlines that springs from National issues, Politics, Metro, Entertainment; and Articles.

    Follow us on social media:

    CORPORATE LINKS

    • About
    • Contacts
    • Report a story
    • Advertisement
    • Content Policy
    • Privacy Policy
    • Terms
     
    • Fact-Checking Policy
    • Ethics Policy
    • Corrections Policy
    • REPORT A STORY
    • PRIVACY
    • CONTACT US

    © 2022 WITHIN NIGERIA MEDIA LTD. designed by WebAndName

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • HOME
    • FEATURES
    • NEWS PICKS
      • BREAKING
      • National
      • Local News
      • Politics
      • Diaspora
      • Business
      • Education
      • Sports
      • World News
        • Africa
        • U.S
        • Asia
        • Europe
      • XTRA
    • ENTERTAINMENT
    • MORE
      • GIST
      • ARTICLES
      • VIDEOS

    © 2022 WITHIN NIGERIA MEDIA LTD. designed by WebAndName