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The Central Financial institution of Nigeria has denied plans to revoke the licenses of Unity Financial institution, Polaris Financial institution, and Keystone Financial institution, saying “The content material is pretend and never from the CBN.”
On-line reviews had claimed that the apex financial institution would terminate the licenses of the three banks, following the revocation of Heritage Financial institution’s license.
Nevertheless, the CBN has debunked this declare in a put up on its social media handles, stating that it has no plans to take action.
PUNCH On-line reported that the CBN had revoked Heritage Financial institution’s license, citing the financial institution’s incapacity to enhance its monetary efficiency.
“The Board and Administration of the financial institution haven’t been in a position to enhance the financial institution’s monetary efficiency, a scenario which constitutes a menace to monetary stability,” the financial institution mentioned.
The CBN added that Heritage Financial institution had not proven any prospects of restoration, making the revocation of its license essential.
The Nigeria Deposit Insurance coverage Company has been appointed because the liquidator of the financial institution, consistent with Part 12 (3) of the Banks and Different Monetary Act 2020 and has begun the method of compensation of deposits to prospects already.
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