Heritage Bank not distressed – CBN

Heritage Bank Nigeria MD Ifie Sekibo
Heritage Bank MD, Ifie Sekibo

The Central Bank of Nigeria (CBN) has denied report in a section of the media that Heritage Bank was under financial distress and 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, a statement by acting Director, Corporate Communications, CBN, made available to Qed.ng, reads.

“For the avoidance of doubt, we wish to further state that no Nigerian Bank is in distress,” it continues.

“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.”