The Central Bank of Nigeria (CBN) has once again reassured the banking public of the safety of their deposits and the resilience of the banking system.
It stated this in response to accusations made in some quarters regarding the soundness of some Nigerian banks following the termination of Heritage Bank Plc’s license.
The acting director of the corporate communications department of the apex bank, Hakama Sidi Ali, refuted rumors that the regulator was thinking of canceling the operating licenses of Fidelity, Polaris, Wema, and Unity Banks in a conversation with New Telegraph on Monday, June 10.
She further explained that a circular that the Bank released on January 10, 2024, informing the public of the Union, Keystone, and Polaris Banks Boards’ dissolution, is presently being distributed under the false pretences of being published on June 10, 2024.
Sidi Ali emphasised that Heritage’s case was unique and said that reports of further licenses being revoked before the bank recapitalisation process was finished were merely lies meant to incite fear in the system.
Sidi Ali said that the Nigeria Deposit Insurance Corporation (NDIC) had started paying out to the bank’s insured depositors, so clients, especially those of Heritage Bank, should not be concerned about the security of their money.
Therefore, she dismissed any misleading allegations about the state of certain Deposit Money Banks and encouraged the people to continue their regular banking transactions without concern.
She reaffirmed that the CBN is actively maintaining the stability of Nigeria’s financial system through its robust regulatory framework, safeguarding the security of depositor money in all Nigerian financial institutions.
Sidi Ali emphasised that the success of the process would be crucial for the expansion of the Nigerian economy as a whole while restating the guarantees of CBN Governor Olayemi Cardoso that the recapitalisation of Nigerian banks was meant to strengthen the banking system and protect the industry against risks.
She added,
TimesNow.com.ng reported that the NDIC, which is in charge of pursuing the loan defaulters at Heritage Bank, who owe the bank a total of N700 billion, has made intentions to do so public.
This statement was made on Wednesday, June 5, 2024, during a news conference in Abuja by Bello Hassan, the Managing Director of NDIC.
The NDIC promised to distribute protected savings to depositors of the now-defunct Heritage Bank, particularly those with accounts holding N5 million or less, in its capacity as the liquidator designated by the Central Bank of Nigeria.
Source: TimesNow.com.ng
