Heritage Bank is going through a challenging time at the moment over the revocation of its license.

Central Bank of Nigeria Shuts Down Heritage BankThe CBN had explained that its decision on the license revocation was made due to the bank’s inability to improve its financial performance.

However, the regulator said Heritage Bank, which was nationally licensed, has not improved.

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Furthermore, it said the bank “has no reasonable prospects of recovery,”  thereby making revoking the license the next necessary step.

Peter Obi Reacts

However, the 2023 Labour Party presidential candidate and former Anambra Governor, Peter Obi, reacted to this yesterday.

He said that the Central Bank of Nigeria’s (CBN) revocation of Heritage Bank’s operating licence, has a far-reaching impact on the bank’s depositors given the current hardship in the country.

Obi, shared this on his official X handle, urging the government to immediately pay depositors of the bank to avoid unnecessary hardship.

Also, he called on both the CBN and the NDIC to ensure that all customers of the bank are paid their money.

According to the former governor of Anambra State, ensuring depositors payments will help alleviate hardship in the country.

“Given the harsh economic realities in the country now.

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“I will urge the federal government via NDIC to ensure immediate payment of all depositors in Heritage Bank in full.

”Because, this will help to alleviate the prevailing hardship the people are going through in the country.

“In addition, many individual savers and SMEs are already groaning under the severe negative effects of the economy and already living in abject poverty.

Heritage Bank Now Liquidated

However, these depositors depend on the savings they have in the now-liquidated bank to survive.

“Also, any attempt to deny or delay payment to these depositors would worsen their economic woes.

“This could lead to a crisis of confidence in the banking system.

“In addition, anything short of immediate and full payment can create panic in the banking sector.

“However, our already fragile economy cannot afford this.

Also Read: What To Expect After The Closure Of Heritage Bank By CBN

“Furthermore, on no account should the actions of the government through the CBN destabilize the financial system.

“This should not shake public confidence in the integrity of the system.

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