The Central Bank of Nigeria (CBN) has cancelled the license of Heritage Bank Plc, effective immediately.
The CBN made this decision because Heritage Bank failed to improve its financial situation, which was seen as a risk to financial stability.
Sidi Ali, the Acting Director of Corporate Communication for the CBN, shared this news in a statement on Monday.
The CBN stated that the bank’s management could not stop the decline, despite several efforts by the CBN to help. With no hope of recovery, the CBN took this step to protect the financial system and keep public trust.
“The Nigerian financial system remains on a solid footing. We are committed to ensuring the safety and soundness of our financial system, and this action reflects that commitment,” the statement said.
FOOD GRADE ACTIVATED CHARCOAL
Ultrafine, exceptionally adaptive charcoal.
Supports detoxification/ removal of toxins
Supports occasional intestinal gas
Non toxic teeth whitening alternative
Treats gout and inflammation
Cures mouth odour
Treats grievous wounds and sores.
Treats diarrhoea
When applied on the armpits, detoxifies against breast lump.
When applied on the pad, treats vagina itching and infection
A paste mixed with honey gives a glowing soft face
Helps prevent hangover
Helps prevent cellular damage to the kidneys
CLICK HERE TO ORDER
Beyond Boders also learned that the Nigeria Deposit Insurance Corporation (NDIC) will now handle the liquidation of Heritage Bank, according to the Banks and Other Financial Act 2020.
This move by the CBN aims to keep the financial system stable and protect the money of depositors.
The public has been assured that taking away Heritage Bank’s license will not harm the overall health of the financial system.
