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Tag: financial struggles

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

  • by Sara Lohmaier Jun, 3 2024

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.

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