The Central Bank of Nigeria (CBN) refutes claims of intending to revoke the licenses of Unity Bank, Keystone Bank, and Polaris Bank.
An online report had suggested that the CBN would revoke the licenses of these banks, purportedly following the revocation of Heritage Bank’s license.
The CBN, through its official X account, on Tuesday, urged the public to dismiss the report.
Another update revealed that on Monday, the CBN revoked the operating license of Heritage Bank. The decision was based on the bank’s failure to improve its financial performance, according to the CBN.
The statement reads in part: “The Central Bank of Nigeria (CBN), in line with its mandate to foster a stable financial system in Nigeria and exercising its authority under Section 12 of the Banks and Other Financial Institutions Act (BOFIA) 2020, hereby revokes the license of Heritage Bank Plc effective immediately.”