Friday, October 17, 2025
25.2 C
Lagos

CBN: ‘Heritage Bank is Strong, Healthy’

The Central Bank of Nigeria (CBN) has debunked widespread rumours alleging that Heritage Bank Limited is in dire financial condition.

Mr. Isaac Okorafor, Acting Director, Corporate Communications, CBN, said in a statement:

“The attention of the Central Bank of Nigeria (CBN) has been drawn to false and malicious stories on the social media insinuating that Heritage Bank is under financial distress and therefore unable to discharge its obligations to its depositors. We wish to state that Heritage Bank is not in distress and as such its depositors should go about their transactions without fear. For the avoidance of doubt, we wish to further state that no Nigerian Bank is in distress. The CBN, as the industry regulator, has a duty to depositors, in particular, and the economy, in general, to ensure the soundness of all financial institutions. We therefore wish to assure all depositors of the safety of their deposits. The CBN also wishes to state that it will remain alive to its responsibility of ensuring banking system stability and soundness through constant monitoring and supervision of all licensed institutions. The Central Bank of Nigeria wishes to reiterate that the banking system remains resilient enough to weather the current economic storm.”

In the same vein, Mrs. Olusola Longe-Okenimkpe, Divisional Head, Corporate Communications of Heritage Bank issued a statement on behalf of the management:

“The attention of Heritage Bank Plc has been drawn to deceptive reports contained in a media publication, alleging the bank’s inability to honour its obligations to customers amongst other contrived reports on the financial state of the bank. Heritage Bank wishes to categorically refute this false information being circulated about the institution with a misdirected intent to derail and misinform the banking public on its financial state. Whilst we acknowledge the challenging operating environment currently experienced in all sectors of the economy, Heritage Bank remains financially stable and has continued to discharge its obligations to all customers and stakeholders. This position is buttressed by the commendable results posted by the bank in the past financial year and the last three quarters of 2016, resulting in shareholder approvals to list its shares on the Nigerian Stock Exchange within one year of its business combination with the erstwhile Enterprise Bank Limited. The bank wishes to assure all customers and stakeholders of the safety of their deposits and financial transactions in line with our commitment to a strong service culture and sound corporate governance practice.

spot_img
spot_img
spot_img

Hot this week

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Stanbic IBTC Bank, LOXEA BYD forge alliance for Electric Vehicle Financing

In a strategic move to advance Nigeria’s shift toward...

CBN, Bank of Angola Sign MoU on Technical Co-operation at IMF/World Bank Meeting

In an effort to enhance bilateral cooperation and technical...

NBS: Nigeria’s Inflation Falls to 18.02% in September, Lowest Level in Three Years

Nigeria’s headline inflation rate fell for the sixth consecutive...

NUPEMCO Marks 2025 CSW with Nationwide Pension Awareness Activities, Huawei-Supported National Essay competition

The Nigerian University Pension Management Company (NUPEMCO) celebrated the...

Topics

Multichoice Fined R10, 000 Over Nude Scene

Multichoice has been fined R10, 000 over an inappropriate...

U.S. Condemns China’s Cyber Rules for Insurers

Controversial cyber security regulations for China’s insurance industry, now...

10 Elements Driving Change in Business Processes, People, Services

A new initiative by ACCA (the Association of Chartered...

Sovereign Trust Insurance Reaches Final of NCRIB Tennis Tournament

L-R: Adepoju Aderounmu, Manager, Banking Operations, Sovereign Trust Insurance...

Wema Bank: 5for5 Promo Season 2 Grand Finale Enters Final Countdown

The second edition of the ALAT 5for5 promo, a...

Anchor Insurance Business Training Program

L-R: Nigeria's foremost music export, Patoranking (real name: Patrick...

₦5tn AMCON Debt: Finance Minister, BPP, ICPC Join Recovery Campaign

The Minister of Finance, Mrs. Zainab Shamsuna Ahmed has charged...

2023 General Elections: Where Have Real Political PR Practitioners Gone?

   By Tope Adaramola The history of Public Relations in Nigeria...
spot_img

Related Articles

Popular Categories

spot_imgspot_img