Take a fresh look at your lifestyle.

Heritage Bank: Obi charges NDIC to promptly pay depositors

80

Get real time updates directly on you device, subscribe now.

The presidential candidate of the Labour Party in the last election, Mr Peter Obi, has said that the revocation of Heritage Bank’s operating licence by the Central Bank of Nigeria has a far-reaching impact on the bank’s depositors given the current hardship in the country.

The former governor of Anambra State who made this known via his official X handle, urged the government to immediately pay depositors of the bank to avoid unnecessary hardship.

He called on both the apex bank and the NDIC to ensure that all customers of the bank are paid their money.

Obi said, “Given the harsh economic realities in the country now, I will urge the federal government via NDIC to ensure immediate payment of all depositors in Heritage Bank in full to help alleviate the prevailing hardship the people are going through in the country.

“Many individual savers and SMEs are already groaning under severe negative effects of the economy and already living in abject poverty. These depositors depend on the savings they have in the now-liquidated bank to survive.

“Any attempt to deny or delay payment to these depositors would worsen their economic woes and could lead to a crisis of confidence in the banking system.

“Anything short of immediate and full payment can create panic in the banking sector which our already fragile economy cannot afford.

“On no account should the actions of the government through the CBN destabilise the financial system or shake public confidence in the integrity of the system.”

NewsBand reported that the CBN revoked the operating licence of Heritage Bank due to the bank’s continued poor financial performance.

CBN in a statement said the decision to withdraw Heritage Bank licence was made because the bank’s board and management had failed to improve its financial standing, posing a threat to financial stability.

Get real time updates directly on you device, subscribe now.