The Central Bank of Nigeria (CBN) says it has no plans to revoke the licences of Polaris, Unity and Keystone banks.
This statement came in response to online reports suggesting that these banks’ licences would be terminated following the recent revocation of Heritage Bank’s licence.
In a post on its social media pages on Tuesday, the CBN dismissed these claims, stating, “The content is fake and not from the CBN.”
On June 4, the CBN revoked the banking licence of Heritage Bank due to the bank’s continued poor financial performance.
According to the CBN, the decision was made because the bank’s board and management had failed to improve its financial standing, posing a threat to financial stability.
Following the revocation, the Nigeria Deposit Insurance Corporation (NDIC) was appointed as the liquidator of Heritage Bank, in accordance with Section 12(3) of the Banks and Other Financial Institutions Act (BOFIA) 2020.
The CBN emphasised that this action underscores its ongoing commitment to ensuring the safety and soundness of Nigeria’s financial system.
