The House of Representatives is aware of the recent revocation of the license of Heritage Bank (under liquidation) by the Central Bank of Nigeria and the appointment of the Nigeria Deposit Insurance Corporation as the liquidators, in accordance with the provisions of the Banks & Other Financial Institutions Act (BOFIA).
We assure the public, particularly depositors and stakeholders of Heritage Bank, that the House is committed to carrying out its constitutional oversight functions to ensure that this development does not negatively impact Nigerians.
The relevant House Committees on Banking Regulations; and Insurance will be up to their duty, thoroughly examining the circumstances surrounding this decision and the subsequent steps taken by the NDIC.
Our priority is to safeguard the interests of all depositors and maintain the stability of the financial system.
We will engage with the CBN, NDIC, and other relevant stakeholders to ensure a transparent and orderly resolution process, providing necessary support to mitigate any potential negative impact on the public.
Furthermore, we urge the Central Bank of Nigeria & Nigeria Deposit Insurance Corporation to establish clear channels of communication to allay the fears of the public & prevent any loss of trust in our financial system. Effective public engagement is crucial to maintaining confidence during this period.