Reps panel threatens Heritage Bank takeover by CBN over debt


A House of Representatives ad hoc committee has threatened to force the takeover of Heritage Bank by the Central Bank of Nigeria (CBN) over alleged debt to the Federal Government.

The committee is investigating the status of all recovered loots, movable and immovable assets from 2002 to 2020.

At its sitting on Thursday, chairman of the committee Adejoro Adeogun said the committee would not hesitate to invoke constitutional powers on the bank if it fails to appear next Wednesday.

“I need to send this message to Heritage Bank that we are not comedians here and we are not joking here. If Heritage Bank is owing Nigeria more than its share capital, we will not hesitate to ask the National Assembly to write to CBN to take over Heritage Bank,” Adeogun said.

“They cannot be owing more than their share capital, sit on it and feel too big to respond to invitations from the National Assembly. Clerk, you have to write to them, giving them till Wednesday next week. That is the last time we are going to give them.”

Also, the panel gave accountant general of the federation, NNPC, Unity, Sterling, Keystone and Fidelity banks one week to appear before it.