Heritage Bank is not distressed: CBN

Posted by News Express | 16 November 2016 | 3,169 times

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The Central Bank of Nigeria (CBN) on Tuesday evening dismissed as “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,” CBN Ag. Director, Corporate Communications, Isaac Okorafor, said.

“For the avoidance of doubt, we wish to further state that no Nigerian Bank is in distress,” Okorafor said in a statement issued in Abuja.

Continuing, he said: “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.”

•Photo shows CBN Governor Godwin Emefiele.

Source: News Express

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