The move, announced in a statement on Monday, June 3, 2024, is part of the CBN’s ongoing efforts to maintain a stable and healthy financial system as authorised under Section 12 of the Banks and Other Financial Institutions Act (BOFIA) 2020.
The statement signed by Hakama Sidi Ali, the Acting Director of Corporate Communications CBN, added that the revocation was executed after Heritage Bank breached Section 12 (1) of BOFIA 2020.
The statement reads:
To ensure public confidence and integrity of the financial system, the CBN appointed the Nigeria Deposit Insurance Corporation (NDIC) as the Liquidator of Heritage Bank as stipulated in Section 12 (2) of BOFIA 2020.
The CBN reassured the public that Nigeria’s financial system remains robust and secure, Punch reports.
The statement continued:
Earlier, TimesNow.com.ng reported that Nigerian bank workers’ unions are protesting the termination of some of their members’ employment at Heritage Bank.
The union alleged unfair labour practices and claimed the affected workers were dismissed without compensation.
The union is demanding justice for the affected workers and urging the bank to settle the three-month-old unpaid severance benefits.
Source: TimesNow.com.ng
