The Central Bank of Nigeria (CBN) has firmly denied any plans to revoke the licenses of Unity Bank, Polaris Bank, and Keystone Bank.
“The content is fake and not from the CBN,” the bank stated, addressing online reports that claimed these three banks were at risk of license termination following the revocation of Heritage Bank’s license.
These rumours were quashed by the CBN in a post on its social media handles, emphasising that there are no such plans in place, as reported by The Punch.
Recall that the apex bank earlier revoked Heritage Bank’s license due to the bank’s persistent poor financial performance.
The CBN elaborated on the situation, saying, “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.”
It further noted that Heritage Bank showed no signs of recovery, which necessitated the revocation of its license.
The Nigeria Deposit Insurance Corporation (NDIC) has been appointed as the liquidator for Heritage Bank, in accordance with Section 12 (3) of the Banks and Other Financial Act 2020, and has already started the process of repaying deposits to customers.
