By Enyichukwu Enemanna
Customers have expressed fear, arising from the revocation of Heritage Bank’s operational license on Monday by the Central Bank of Nigeria (CBN).
The development has placed customers in a financial mess, Dr Uju Ogunbunka, the President of the Bank Customers’ Association of Nigeria told newsmen.
Heritage Times HT recalls that the CBN in a statement by its acting Director, Corporate Communications, Mrs Hakama Sidi Ali, said “Regrettably, the bank has continued to suffer and has no reasonable prospects of recovery, thereby making the revocation of the license the next necessary step”.
Affected customers of Heritage Bank may not get 100 percent of their deposit, Ogunbunka explained in reaction to the revocation.
“It will affect all customers, which means that there is no longer Heritage Bank.
“Anybody that has money in the money won’t be able to access their funds any longer, pending when NDIC will take over the bank according to the law.
“NDIC will decide what to refund back to Customers whether 100 percent or 50 percent of their deposit, that will be for them to decide.
“However, If the bank had money to continue, CBN wouldn’t have revoked their license. They have run aground whatsoever with the deposit they have. Unfortunately, this is not the best time for anybody to have a financial crisis”, he said.
HERITAGE Bank, formerly Societe Generale Bank (Nig.) Limited, SGBN, commenced operation in January 2013 after it received a license from CBN in December 2012.
