• About us
  • Advertise with us
  • Privacy Policy
  • Contact us
Wednesday, July 9, 2025
  • Login
Envision Nigeria
  • Home
  • News
    • All
    • Business
    • Politics
    • Science
    • World
    LG Unveils New Campaign To Promote Healthier, Smarter Living

    LG Unveils New Campaign To Promote Healthier, Smarter Living

    AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

    AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

    POS operator docked for allegedly stealing her employer’s N553, 500

    POS operator docked for allegedly stealing her employer’s N553, 500

    Court remands security man over alleged rape of tailor in Ibadan

    Court remands security man over alleged rape of tailor in Ibadan

    MC Oluomo didn’t buy me a car- Aisha Lawal

    MC Oluomo didn’t buy me a car- Aisha Lawal

    Mercy Johnson’s childhood friend makes unsettling allegations about actress

    Mercy Johnson’s childhood friend makes unsettling allegations about actress

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    MC Oluomo didn’t buy me a car- Aisha Lawal

    MC Oluomo didn’t buy me a car- Aisha Lawal

    My husband doesn’t beat me – Rosy Muerer

    My husband doesn’t beat me – Rosy Muerer

    Mercy Johnson’s childhood friend makes unsettling allegations about actress

    Mercy Johnson’s childhood friend makes unsettling allegations about actress

    Technology: The play station Revolution!

    Technology: The play station Revolution!

    Premier League Summer 2025 Transfer Update: 20 Clubs, 20 Stories

    Premier League Summer 2025 Transfer Update: 20 Clubs, 20 Stories

    Almost August: But the Football Buzz Starts Now!

    Almost August: But the Football Buzz Starts Now!

  • World News
  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Travel
    National Cybercrime Centre dismantles WhatsApp fraud syndicate targeting Nigerian elites

    National Cybercrime Centre dismantles WhatsApp fraud syndicate targeting Nigerian elites

    Benefits of gloves, spiritually 

    Benefits of gloves, spiritually 

    What age difference is ideal between husband and wife?

    What age difference is ideal between husband and wife?

    The Versatility of Gender-Neutral Fashion

    The Versatility of Gender-Neutral Fashion

    Breaking News: Nigeria Reports 39 Mpox and 5,951 Cholera Cases

    Breaking News: Nigeria Reports 39 Mpox and 5,951 Cholera Cases

    “Nigerians Rally Support for Family of Quadruplets, Contribute Over N4.2 Million”

    “Nigerians Rally Support for Family of Quadruplets, Contribute Over N4.2 Million”

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Review

    The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

    Shadow Tactics: Blades of the Shogun Review

    The Last Guardian Playstation 4 Game review

No Result
View All Result
  • Home
  • News
    • All
    • Business
    • Politics
    • Science
    • World
    LG Unveils New Campaign To Promote Healthier, Smarter Living

    LG Unveils New Campaign To Promote Healthier, Smarter Living

    AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

    AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

    POS operator docked for allegedly stealing her employer’s N553, 500

    POS operator docked for allegedly stealing her employer’s N553, 500

    Court remands security man over alleged rape of tailor in Ibadan

    Court remands security man over alleged rape of tailor in Ibadan

    MC Oluomo didn’t buy me a car- Aisha Lawal

    MC Oluomo didn’t buy me a car- Aisha Lawal

    Mercy Johnson’s childhood friend makes unsettling allegations about actress

    Mercy Johnson’s childhood friend makes unsettling allegations about actress

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    MC Oluomo didn’t buy me a car- Aisha Lawal

    MC Oluomo didn’t buy me a car- Aisha Lawal

    My husband doesn’t beat me – Rosy Muerer

    My husband doesn’t beat me – Rosy Muerer

    Mercy Johnson’s childhood friend makes unsettling allegations about actress

    Mercy Johnson’s childhood friend makes unsettling allegations about actress

    Technology: The play station Revolution!

    Technology: The play station Revolution!

    Premier League Summer 2025 Transfer Update: 20 Clubs, 20 Stories

    Premier League Summer 2025 Transfer Update: 20 Clubs, 20 Stories

    Almost August: But the Football Buzz Starts Now!

    Almost August: But the Football Buzz Starts Now!

  • World News
  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Travel
    National Cybercrime Centre dismantles WhatsApp fraud syndicate targeting Nigerian elites

    National Cybercrime Centre dismantles WhatsApp fraud syndicate targeting Nigerian elites

    Benefits of gloves, spiritually 

    Benefits of gloves, spiritually 

    What age difference is ideal between husband and wife?

    What age difference is ideal between husband and wife?

    The Versatility of Gender-Neutral Fashion

    The Versatility of Gender-Neutral Fashion

    Breaking News: Nigeria Reports 39 Mpox and 5,951 Cholera Cases

    Breaking News: Nigeria Reports 39 Mpox and 5,951 Cholera Cases

    “Nigerians Rally Support for Family of Quadruplets, Contribute Over N4.2 Million”

    “Nigerians Rally Support for Family of Quadruplets, Contribute Over N4.2 Million”

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Review

    The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

    Shadow Tactics: Blades of the Shogun Review

    The Last Guardian Playstation 4 Game review

No Result
View All Result
Envision Nigeria
No Result
View All Result
Home In the News

CBN revokes Heritage Bank’s licence

Ademola Damilola by Ademola Damilola
June 3, 2024
in In the News, News
0
CBN revokes Heritage Bank’s licence
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

The Central Bank of Nigeria has taken the decisive step of revoking the banking license of Heritage Bank Plc, effective immediately, citing concerns over the bank’s persistently poor financial performance, which posed a threat to financial stability.

Sidi Ali, the Acting Director of the Corporate Communication Department at the apex bank, disclosed this development in a statement released on Monday. Despite various supervisory measures taken by the regulator, Heritage Bank’s management failed to reverse the decline in its financial status, leaving the Central Bank with no choice but to intervene to safeguard the integrity of the financial system and maintain public trust.

“The Nigerian financial system remains robust, and we are unwavering in our commitment to uphold its safety and soundness,” the statement affirmed.

In line with the Banks and Other Financial Act 2020, the Nigeria Deposit Insurance Corporation (NDIC) has been appointed as the liquidator of Heritage Bank. This move underscores the CBN’s determination to ensure the stability of the financial sector and protect the interests of depositors. Importantly, the public has been reassured that the revocation of Heritage Bank’s license will not compromise the overall health of the financial system.

“The Central Bank of Nigeria, exercising its mandate to uphold a sound financial system in Nigeria and pursuant to its powers under Section 12 of the Banks and Other Financial Act (BOFIA) 2020, has decided to revoke the license of Heritage Bank Plc with immediate effect,” the statement declared.

“This decision is prompted by the bank’s violation of Section 12 (1) of BOFIA 2020, as its board and management failed to improve the bank’s financial performance, thereby posing a threat to financial stability.”

The CBN had engaged with Heritage Bank over a period, prescribing various supervisory measures to address its deteriorating financial situation. However, with no tangible signs of improvement, the revocation of the bank’s license was deemed necessary to reinforce public confidence in the banking system and maintain its resilience.

“We wish to assure the public that the Nigerian financial system remains robust. Our actions today reflect our steadfast commitment to take all necessary measures to uphold the safety and stability of our financial system,” the statement concluded.

Previous Post

Strike’ll add to hardship, N494,000 minimum wage unrealistic, says LP

Next Post

NDIC begins verification, payment of insured deposits to Heritage Bank customers

Ademola Damilola

Ademola Damilola

Next Post
CBN revokes Heritage Bank’s licence

NDIC begins verification, payment of insured deposits to Heritage Bank customers

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 23.9k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
FG commences electronic verification for military veterans February 19

FG commences electronic verification for military veterans February 19

February 15, 2024
Fr Ogunyemi charges Catholic women to go MAD

Fr Ogunyemi charges Catholic women to go MAD

February 20, 2024
BREAKING: FCT Minister’s residence gutted by Fire

BREAKING: FCT Minister’s residence gutted by Fire

February 25, 2024
Dr Patrick Tyodzer Pillah: A Scholar Shaping Public Policy, Governance, and Environmental Management in Nigeria

Dr Patrick Tyodzer Pillah: A Scholar Shaping Public Policy, Governance, and Environmental Management in Nigeria

February 11, 2025
Culture making Africans intolerant of blessings for same-sex couples – Pope

Culture making Africans intolerant of blessings for same-sex couples – Pope

1
CBN lacks power to receive NNPCL crude sales – Atiku

CBN lacks power to receive NNPCL crude sales – Atiku

1
Soldier questions non-recognition as Tinubu lavishes gifts on Super Eagles

Soldier questions non-recognition as Tinubu lavishes gifts on Super Eagles

1
Fr Ogunyemi charges Catholic women to go MAD

Fr Ogunyemi charges Catholic women to go MAD

1
LG Unveils New Campaign To Promote Healthier, Smarter Living

LG Unveils New Campaign To Promote Healthier, Smarter Living

June 25, 2025
AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

June 18, 2025
POS operator docked for allegedly stealing her employer’s N553, 500

POS operator docked for allegedly stealing her employer’s N553, 500

June 13, 2025
POS operator docked for allegedly stealing her employer’s N553, 500

POS operator docked for allegedly stealing her employer’s N553, 500

June 13, 2025

Recent News

LG Unveils New Campaign To Promote Healthier, Smarter Living

LG Unveils New Campaign To Promote Healthier, Smarter Living

June 25, 2025
AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

June 18, 2025
POS operator docked for allegedly stealing her employer’s N553, 500

POS operator docked for allegedly stealing her employer’s N553, 500

June 13, 2025
POS operator docked for allegedly stealing her employer’s N553, 500

POS operator docked for allegedly stealing her employer’s N553, 500

June 13, 2025
Envision Nigeria

Envisionnigeria. com.ng is an on-line publication established to give expression to Article 19 of the Universal Declaration of Human Right. It is an apolitical community of Journalist and Global citizens committed to making the World a better place.

Follow Us

Browse by Category

  • Apps
  • Business
  • Crime
  • Education
  • Entertainment
  • Evironment
  • Fashion
  • Feature
  • Food
  • Foreign News
  • Gadget
  • Gaming
  • Health
  • In the News
  • Interview
  • Lifestyle
  • Mobile
  • Movie
  • Music
  • News
  • Politics
  • Review
  • Science
  • Sports
  • Startup
  • Tech
  • Travel
  • World

Recent News

LG Unveils New Campaign To Promote Healthier, Smarter Living

LG Unveils New Campaign To Promote Healthier, Smarter Living

June 25, 2025
AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

AONN Urges Wike to End Ongoing Strikes in Schools and Health Centres

June 18, 2025
  • About us
  • Advertise with us
  • Privacy Policy
  • Contact us

© 2024 Envision Nigeria Publications & Communication Limited

No Result
View All Result

© 2024 Envision Nigeria Publications & Communication Limited

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In