Stella Dimoko CBN Revokes Licence Of Heritage Bank Plc.


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Monday, June 03, 2024

CBN Revokes Licence Of Heritage Bank Plc.

 The Central Bank of Nigeria has revoked the operating License of the heritage Bank....


  1. I can imagine the panic attack those that have money in the bank will be feeling at the moment.

  2. Tor
    I hope they will pay off all the customers who have money saved there

  3. This is bad ooo

    They should shaa pay the customer their sweat ooo abeg oooo

    Hello iya boys

  4. their customers will be in panic.

  5. This is serious. I guess there will be panic now

  6. Good lord😱 What will happen to their customer’s savings and getting back the loans they granted? This is a messy situation

  7. I saw this coming .
    I made a transaction with them once and took them 4 week to process.

  8. 1. All banks have their deposits insured by the Nigeria Deposit Insurance Insurance (NDIC) so it means NDIC will pay the customers.
    2. But NDIC will pay the maximum insured sum of N500,000. Then if you have more than that amount, you are entitled to share from the proceeds of the liquidation of the bank's assets.
    3. If the owner of the account is deceased, a relative can still get the money from NDIC. The relative has to provide a Letter of Administration and documents showing proof of ownership of the account.
    4. Usually, NDIC will make a publication calling on all depositors to file their claims for payments. You have to look out for when they will make such publication and register your claims as directed.

    1. @ Ice fish, all points correct, but effective May 2, 2024, the NDIC increased the limits and i quote as follows from their website:
      The maximum deposit insurance coverage for depositors of Deposit Money Banks (DMBs) has increased from N500,000 to N5,000,000; Microfinance Banks (MFBs) from N200,000 to N2,000,000; Primary Mortgage Banks (PMBs) from N500,000 to N2,000,000; Payment Service Banks (PSBs) from N500,000 to N2,000,000 and subscribers of Mobile Money Operators (MMOs) from N500, 000 to N5,000,000 per subscriber, aligned with DMBs’ coverage level.
      Heritage bank is a deposit money bank so its N5m cover for each of their customers

    2. That’s correct and while addressing us yesterday they promised to pay everyone by Monday

  9. What stops CBN from asking customers to withdraw their money first?

  10. And to think is my salary account.

  11. The management has utterly ruined the bank. Rampant corruption abounds. They were well aware that the bank stood no chance, yet they shamelessly drained it of every last penny. Customer funds were squandered without remorse. Third parties and proxies were also employed. Recently, the Managing Director (MD) and Executive Directors (EDs) treated themselves to brand-new SUVs, the latest models and flew abroad with the bank’s funds. It was common knowledge that the MD was involved in an extramarital affair with the Chief Information Officer (CIO), both of whom are married. The Economic and Financial Crimes Commission (EFCC) ought to pursue them individually, including their senior staff who were dismissed. Despite the bank's dire state, they remained indifferent, driven by selfish motives. Staff are underpaid and treated as mere slaves. The Chief Audit Executive (CAE) even denies staff leave until after she closes, which can be as late as 9 p.m. This leaves some audit staff arriving home very late, sometimes close to midnight, depending on their distance from home. In fact, Heritage Bank has been recruiting staff; just yesterday, some new hires resumed work for their first day when the Nigerian Deposit Insurance Corporation (NDIC) took over. The DH, Human Capital Development, a principal manager, recently joined the bank about two weeks ago. Despite several meetings with management, the Central Bank of Nigeria (CBN), and the NDIC, management has yet to address staff concerns on this issue.


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