• About
  • Contact
  • Advertise
  • Privacy Policy
  • Terms Of Use
Monday, June 16, 2025
No Result
View All Result
Converseer
  • Home
  • News
    • General News
    • Education
    • Business
    • Security
    • Entertainment
    • Lifestyle
    • Tourism
  • Politics
  • Metro
  • Jobs
  • Sports
  • Health
  • Tech
  • More
    • Science & Nature
    • Agriculture
    • Opinion
    • Feature
    • Fact Check
    • History
    • Profile & Biography
    • Special Reports
  • Home
  • News
    • General News
    • Education
    • Business
    • Security
    • Entertainment
    • Lifestyle
    • Tourism
  • Politics
  • Metro
  • Jobs
  • Sports
  • Health
  • Tech
  • More
    • Science & Nature
    • Agriculture
    • Opinion
    • Feature
    • Fact Check
    • History
    • Profile & Biography
    • Special Reports
No Result
View All Result
Converseer
No Result
View All Result
Home News

JUST IN: CBN revokes Heritage Bank licence

by Frank Ulom
3 June 2024
in News

The Central Bank of Nigeria (CBN) has revoked the licence of Heritage Bank Plc, one of the depositing banks, with immediate effect.

This was contained in a press release signed by Mrs Hakama Sidi Ali, Acting Director, Corporate Communications, CBN, on Monday, 3rd June 2024.

The press release titled ‘CBN REVOKES THE BANKING LICENCE OF HERITAGE BANK PLC’, stated that the bank breached Section 12 (1) of BOFIA 2020.

It added that the board and management of Heritage Bank failed to improve the bank’s financial performance amid several notices from the CBN

“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. 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,” the press release read in full.

READ ALSO:
  • Strike: Labour shutdown National Grid
  • JUST IN: Journalists join Labour strike
  • NGO takes campaign against sex-for-marks to rural schools in Cross River
Tags: CBN NewsNigeria News
ShareTweetPin

Related News

Otu tasks newly sworn-in NYSC members on laudable community projects

More female graduates assume NYSC camp in Cross River

15 June 2025
Adedayo Modupe

Agric Minister declares 3-day fasting and prayer for food security

15 June 2025
Iran’s fresh missile attack injures 14 in Israel

Iran’s fresh missile attack injures 14 in Israel

15 June 2025
Trump to impose visa ban on Nigerians, 35 other countries

Trump to impose visa ban on Nigerians, 35 other countries

15 June 2025

Latest News

Tears as Fulani herders kill pharmacist, leaving behind young wife, daughter

Trump reportedly prevents Israel from killing Iran’s Supreme Leader

UK court jails Nigerian over kissing

Fritz seals commanding win over Zverev to claim Stuttgart title

Police recover stolen govt vehicles trafficked to Ghana, Niger, arrest 3 suspects

Germany confirms first case of African Swine Fever (ASF)

About Us

Converseer is an online newspaper that delivers impartial, comprehensive news coverage on politics, business, and education, among other topics. Our goal is to bridge the information gap and promote progress across various sectors of society.

Social Media

  • Facebook
  • WhatsApp
  • X (Twitter)
  • YouTube

Coverage

  • Africa
  • Americas
  • Asia
  • Europe
  • Middle East

Topics

  • Special Reports
  • Fact Check
  • Feature
  • Opinion
  • History
  • About
  • Contact
  • Advertise
  • Privacy Policy
  • Terms Of Use

© 2025 Converseer - All Rights Reserved. Paradise Media Venture.

No Result
View All Result
  • Home
  • News
    • General News
    • Education
    • Business
    • Security
    • Entertainment
    • Lifestyle
    • Tourism
  • Politics
  • Metro
  • Jobs
  • Sports
  • Health
  • Tech
  • More
    • Science & Nature
    • Agriculture
    • Opinion
    • Feature
    • Fact Check
    • History
    • Profile & Biography
    • Special Reports

© 2025 Converseer - All Rights Reserved. Paradise Media Venture.