Heritage Bank not distressed, says CBN

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According to reports, the Central Bank of Nigeria (CBN) has denied claims that Heritage bank is in distress.


The CBN in a statement issued on Tuesday in Abuja and signed by Isaac Okorafor, Acting director, corporate communications of the 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 “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.”

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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.

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

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