Saturday, July 12, 2025
27.5 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

Fidelity Bank Delivers Hope to Internally Displaced Persons in Benue State

Team Lead, CSR, Fidelity Bank Plc, Victoria Abuka (Left);...

Union Bank Responds to Court Ruling on NICON, Global Fleet, Jimoh Ibrahim Case

Union Bank of Nigeria acknowledges the recent judgment of...

NAICOM, CIIN Laud IMT for Advancing Tech-Driven Insurance in Nigeria

The Commissioner for Insurance (CFI) and the CEO of...

NCDMB Unveils Nigerian Content Fund Certificate, Empowers 130 firms with $400m NCI Fund

The Nigerian Content Development and Monitoring Board has introduced...

Local Content, NCDMB on the Spotlight at 2025 NOG Conference

The recently held 2025 Nigeria Oil and Gas (NOG)...

Topics

Nigeria Power Council Adopts Sustainable Energy Agenda

The Nigeria National Council of Power (NACOP) has adopted...

NDIC Seeks Stakeholders’ Input to IADI Core Principles for Effective Deposit Insurance

The Nigeria Deposit Insurance Corporation (NDIC) has called for...

CBN: ‘BVN Issued in Nigeria Has No Expiry Date’

The attention of the Central Bank of Nigeria (CBN)...

Towards A Stronger Union Bank – Year 105 in Review

2022 was a remarkable year for Union Bank of...

NEXIM, World Bank Collaborate to Develop Nigeria’s Mining Sector

…The clear intention of The World Bank to collaborate with the NEXIM Bank towards a structured intervention in the Nigeria’s solid minerals sector is quite expedient. More so, with commitment and firm resolve of President Muhammad Buhari to diversify the economy, revitalize the mining sector towards boosting job creation and enhancing foreign exchange earnings - Orya The Managing Director of the Nigerian Export-Import Bank (NEXIM Bank), Mr. Roberts Ungwaga Orya, received a team from the World Bank led by Dr. Francisco Igualada, Senior Mining Specialist, Energy & Extractives Unit, and Mr. Linus Adie Utsu of Mining Investments Consultthat visited the Bank to share ideas on how to provide structured intervention towards revamping and deepening Nigeria’s mining sector.

Oracle MEA, Africa Ahead Headline IFRS 17 Roundtable in Lagos

L-R: Mr. Olasupo Sogelola, Managing Director/CEO, IEI Plc; Official...

Verve Celebrates 10 Years, Now Accepted in 185 Countries

Verve has celebrated 10 years of transforming the payment...
spot_img

Related Articles

Popular Categories

spot_imgspot_img