{"id":325688,"date":"2024-06-03T10:43:42","date_gmt":"2024-06-03T09:43:42","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=325688"},"modified":"2024-06-03T10:43:42","modified_gmt":"2024-06-03T09:43:42","slug":"breaking-cbn-revokes-heritage-bank-license","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2024\/06\/03\/breaking-cbn-revokes-heritage-bank-license\/","title":{"rendered":"BREAKING: CBN Revokes Heritage Bank License"},"content":{"rendered":"

The Central Bank of Nigeria(CBN)says its has revoked the operating licence of Heritage Bank.<\/p>\n

This was contained in a statement by the Acting Director, Corporate Communications, CBN, Hakama Sidi Ali.<\/p>\n

The statement reads: \u201cThe Central Bank of Nigeria, CBN<\/strong><\/a>, 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.<\/p>\n

\u2018This action has become necessary due to the bank\u2019s breach of Section 12 (1) of BOFIA, 2020.<\/p>\n

\u201cThe Board and Management of the bank have not been able to improve the bank\u2019s financial performance, a situation which constitutes a threat to financial stability.<\/p>\n

\u201cThis follows a period during which the CBN engaged with the bank and prescribed various supervisory steps intended to stem the decline.<\/p>\n

\u201cRegrettably, the bank has continued to suffer and has no reasonable prospects of recovery, thereby making the revocation of the license the next necessary step.<\/p>\n

\u201cConsequently, 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.<\/p>\n

\u201cThe Nigeria Deposit Insurance Corporation (NDIC) is hereby appointed as the Liquidator of the bank in accordance with Section 12 (2) of BOFIA, 2020.<\/p>\n

\u201cWe 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.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

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: \u201cThe Central Bank of Nigeria, CBN, in accordance with its mandate to promote a sound financial system in Nigeria and in exercise […]<\/p>\n","protected":false},"author":43,"featured_media":325690,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"2","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"1","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_override_bookmark_settings":{"override_bookmark_button":"0","override_show_bookmark_button":"0"},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[5,16587],"tags":[4136,658,79861,8692],"class_list":["post-325688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking","category-business","tag-bank","tag-cbn","tag-heritage","tag-license"],"yoast_head":"\nBREAKING: CBN Revokes Heritage Bank License<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2024\/06\/03\/breaking-cbn-revokes-heritage-bank-license\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BREAKING: CBN Revokes Heritage Bank License\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Nigeria(CBN)says its has revoked the operating licence of Heritage Bank. 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