Business
2,000 Heritage Bank employees out of jobs after surprise license revocation
The Central Bank of Nigeria (CBN) revoked the banking license of Heritage Bank Plc, effective June 3, 2024.
The decision was made due to the bank’s failure to improve its financial performance, posing a threat to financial stability.
The Nigeria Deposit Insurance Corporation (NDIC) was appointed as the liquidator of Heritage Bank and has commenced the payment process of insured sums to eligible depositors.
