CBN Refutes Rumours Of Heritage Bank In Distress , Says Bank In Good Financial Health

November 16, 2016, 1:27 am

The Central Bank of Nigeria, CBN, has refuted claims that Heritage Bank, a regional financial institution, is in distress.

The CBN in a statement issued on Tuesday, November 15, 2016 in Abuja and signed by Isaac Okorafor, the spokesperson of the apex bank said the apex bank’s attention has “been drawn to 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.”

The CBN, he said, “I wish to state that Heritage Bank is not in distress and as such its depositors should go about their transactions without fear.”

The CBN spokesman further stated that no Nigerian Bank is in distress and that “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.”

The CBN also stated that it will remain alive to its responsibility of ensuring banking system stability and soundness through constant monitoring and supervision of all licensed institutions.

Mr. Okorafor reiterated that “the banking system remains resilient enough to weather the current economic storm.”

This is not the first time that Heritage Bank has been trailed by rumours of distress. Back in July, an online media platform said that the bank was the “next in line” to being taken over by CBN after Skye Bank.

In reaction, Heritage Bank issued a statement calling the tweet by Sahara Reporters as “obnoxious” and called the story falsehood and “at best, reckless journalism meant to destroy the emerging bank”.

“This is falsehood and at best reckless journalism meant to destroy the emerging bank. For the avoidance of doubt, the Central Bank of Nigeria has no such plan towards the bank,” the bank said in a statement on its website.

“Consequently, Heritage Bank wishes to encourage customers of the bank and the general public to disregard the wicked misinformation, clearly borne out of the imagination of the mischief makers and continue enjoying the excellent service the bank is rendering to its growing clientele.

“Heritage Bank will not also sit back and allow its hard earned reputation to be tarnished on the pages of an irresponsible blog,” the bank threatened.

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