The Central Bank of Nigeria (CBN), has revoked the license of Heritage Bank Plc with immediate effect.
The move is in accordance with its mandate to promote a sound financial system in Nigeria and in exercise of its powers under Section 12 of the Banks and Other Financial Act (BOFIA) 2020,
The CBN said this action has become necessary as 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.
More details later…
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