May 28, 2022

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HERITAGE BANK IS NOT ON DISTRESS,” SAYS CBN

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“HERITAGE BANK IS NOT ON DISTRESS,” SAYS CBN


The Central Bank of Nigeria has confirmed that a non-interest bank, popularly known as Islamic banking, Heritage bank is not on distress. This statement was cleared in a press release by the central bank Isaac Okorafor, the Ag.  Director,  Corporate  Communications of the Bank.

The statement read thus: “The  attention  of  the  Central  Bank  of  Nigeria  (CBN)  has  been  drawn  to  false  and malicious  stories  on  the  social  media  insinuating  that  Heritage  Bank  is  under financial  distress  and  therefore  unable  to  discharge  its  obligations  to  its depositors. We  wish  to  state  that  Heritage  Bank  is  not  in  distress  and  as  such  its  depositors should  go  about  their transactions  without  fear.”

To instill confidence in Nigerians regarding banks in Nigeria, the apex bank says that no Nigerian Bank is in distress. The CBN has a compulsory duty to particularly protect bank’s customers and the economy. Therefore, its ensures the healthiness of all financial institutions and safety of depositors money.

The Bank concludes by saying, “We  therefore  wish  to  assure  all  depositors of  the  safety  of  their deposits.   The  CBN  also  wishes  to  state  that  it  will  remain  alive  to  its  responsibility  of ensuring  banking  system  stability  and  soundness  through  constant  monitoring and  supervision  of all  licensed institutions.   The  Central  Bank  of  Nigeria  wishes  to  reiterate  that  the  banking  system remains  resilient  enough  to  weather the  current  economic  storm.”

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