Following the revocation of the operating licence of Heritage Bank, the House of Representatives on Monday assured the bank’s customers that it will ensure that their funds are safe.
The House further pledged its commitment to engaging with relevant stakeholders in order to ensure the safety of depositors’ funds with Heritage Bank.
This was contained in a statement issued by the spokesman for the House, Akin Rotimi.
In the statement, the House said it was aware of the revocation of the licence of Heritage Bank and the appointment of the Nigeria Deposit Insurance Corporation (NDIC) as the liquidators, in accordance with the provisions of the Banks and Other Financial Institutions Act.
While calling for calm from the customers and the general public, the House tasked the Central Bank of Nigeria (CBN) and the NDIC to create a good system through which they would properly communicate with the customers.
The statement partly reads, “We assure the public, particularly depositors and stakeholders of Heritage Bank, that the House is committed to carrying out its constitutional oversight functions to ensure that this development does not negatively impact Nigerians. The relevant House Committees on Banking Regulations; and Insurance will be up to their duty, to thoroughly examine the circumstances surrounding this decision and the subsequent steps taken by the NDIC.
“Our priority is to safeguard the interests of all depositors and maintain the stability of the financial system. We will engage with the CBN, NDIC, and other relevant stakeholders to ensure a transparent and orderly resolution process, providing necessary support to mitigate any potential negative impact on the public. We urge the CBN and NDIC to establish clear channels of communication to allay the fears of the public and prevent any loss of trust in our financial system. Effective public engagement is crucial to maintaining confidence during this period.”
News About Nigeria reported that the decision to revoke the bank’s licence, according to the apex bank, is due to its failure to improve its financial performance, which is in turn posing a threat to financial stability.
