The CBN just announced that Heritage Bank’s banking license will be terminated.
This decision was made in response to the bank’s financial difficulties over the previous five years and its problems with bad loans.
Under the leadership of Yemi Cardoso, the CBN ultimately decided to take this step.
Mercy Eke, who has a bank account, was shocked and disappointed to hear the news.
She stated that she was urged to open an account with Heritage Bank while staying at the BBN mansion to receive her rewards.
She had no idea about the bank’s financial troubles and had saved over N100 million with them.
While the NDIC has promised to reimburse customers with less than N5 million within a week, those with larger amounts will have to wait until the bank’s assets are liquidated.
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