Today, the Central Bank of Nigeria (CBN) reassures the public about the safety of their deposits and the resilience of the banking system.
The Acting Director of Corporate Communications, Mrs. Hakama Sidi-Ali, addressed concerns following Heritage Bank Plc’s license revocation.
She dismissed rumours about revoking licenses of other banks and clarified the January 10, 2024, circular regarding the dissolution of boards of Union, Keystone, and Polaris Banks was not recent.
Sidi-Ali noted that Heritage Bank’s situation was isolated and reassured depositors their funds were safe.
However, the Nigeria Deposit Insurance Corporation (NDIC) has started paying Heritage Bank’s insured depositors. She urged the public to continue banking without fear and highlighted CBN’s robust regulatory framework and commitment to financial stability.
While CBN Governor Olayemi Cardoso underscored that bank recapitalization is aimed at strengthening the banking system. Sidi-Ali reiterated the resilience of Nigeria’s banking industry and encouraged customers to continue their transactions as usual.