Friday, June 14, 2024
HomeBusinessCBN SPEAKS OVER FIDELITY, WEMA, POLARIS, UNITY BANKS LICENSE REVOCATIONS

CBN SPEAKS OVER FIDELITY, WEMA, POLARIS, UNITY BANKS LICENSE REVOCATIONS

 

CBN SPEAKS OVER FIDELITY, WEMA, POLARIS, UNITY BANKS LICENSE REVOCATIONS

 

The Central Bank of Nigeria has said there is no plan to revoke the licenses of Fidelity, Wema, Polaris and Unity Banks.

The acting Director of the Corporate Communications Department, Mrs Hakama Sidi Ali, on Monday, made this clarification in a statement.

Recall that a circular made the round on Monday suggesting that the apex bank has dissolved the boards of the three banks barely after revoking the license of Heritage Bank.

However, the apex bank spokesperson described the claim as false.

CBN reassured members of the banking public of the safety of their deposits and the banking system’s resilience.

“Without prejudice to the ongoing recapitalization process, I want to restate that the Nigerian banking industry remains resilient.

“Key financial soundness indicators remain within current regulatory thresholds.

“Customers are, therefore, encouraged to proceed with their transactions as usual, as the CBN is committed to ensuring the safety of the banking system,” she stated.

On June 3, CBN announced the withdrawal of license for Heritage Bank over poor financial performance.

To quell public panic, the Nigerian Deposit Insurance Corporation, NDIC assured Heritage Bank depositors that it had already begun the process of repaying their money.

We do everything possible to supply quality news and information to all our valuable readers day in, day out and we are committed to keep doing this. Your kind donation will help our continuous research efforts.

360 F 446817504 uEEbNYjd1Yn5FioF0TcYT3o2OutLHdXv
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular