Shareholders Demand Investigation into Heritage Bank Management After License Revocation

Minority shareholders are calling for a thorough investigation into the management of Heritage Bank after its license was revoked by the Central Bank of Nigeria. The probe aims to boost confidence in the banking sector and recover depositors' funds. Different shareholders' associations are advocating for accountability and lessons to prevent future bank failures.

Central Bank of Nigeria Revokes Heritage Bank’s License Amid Financial Instability

The Central Bank of Nigeria has revoked the license of Heritage Bank due to persistent financial struggles and a bleak outlook for recovery. Heritage Bank, established in the late 1970s, has faced numerous challenges over the years, leading to its current dire situation. The Nigeria Deposit Insurance Corporation has been appointed as the bank's liquidator.