Heritage Bank not in distress, CBN assures

The Central Bank of Nigeria (CBN) has debunked the claims in some media that Heritage Bank is in distress.

The CBN in a statement on Tuesday in Abuja and signed by its Acting Director, Corporate Communications, Mr. Isaac Okorafor, 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.”

Okorafos said “CBN 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.”

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.

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