JUST IN: We will pay Heritage Bank customers within one week – NDIC MD
The Nigerian Deposit Insurance Corporation (NDIC) has assured depositors of Heritage Bank it was already in the process of paying them.
The Managing Director of NDIC, Bello Hassan, stated this at a briefing where he outlined the processes of repayment, insisting that the corporation will not take 30 days as stipulated by law but will settle customers within one week.
The Nation reported that the Central Bank of Nigeria (CBN) on Monday, June 4, revoked the banking licence of Heritage Bank.
READ ALSO:
According to the CBN, the decision was due to the bank’s inability to improve its financial performance.
“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,” the CBN said.
However, the apex said Heritage Bank had not improved and “has no reasonable prospects of recovery”, thereby making revoking the licence the next necessary step.
US University opens 2025 scholarships for international students Montana Technological University (Montana Tech) has opened…
200,000 repentant terrorists surrender, drop arms in North East – CDS The Chief of Defence…
Canadian university offers funded national scholarship program for 2025 Western University has announced that applications…
Israeli strikes pound central Beirut, suburbs BEIRUT: Israeli strikes pounded a densely-populated part of the Lebanese…
Robbers kill two members in shoot-out with Delta police The spokesperson for the police in Delta…
Akwa Ibom businessman abducted, driver killed, police orderly injured Gunmen kidnapped a prominent businessman, Dr. Samuel…