Heritage Bank Depositors Urge National Assembly to Intervene in Fund Recovery
By, springnewsng media limited march 26,2025
Depositors of Heritage Bank with funds exceeding N5 million have called on the National Assembly to intervene in resolving the bank’s license revocation by the Central Bank of Nigeria (CBN). The depositors expressed frustration over their inability to access their funds despite previous assurances from the CBN that the bank was not in distress.
In a statement, the affected customers highlighted the severe economic hardship resulting from the situation, including business closures, depletion of life savings, and struggles with daily expenses.
The statement reads: “Some depositors have died from heart attacks, while others are hospitalized. We are at a loss, and our families are suffering.”
The depositors questioned the actions of the CBN, citing the merger of Unity Bank with Providus Bank, which ensured a smooth transition for depositors, and the payment of N460 billion to First Bank before Heritage Bank’s liquidation. They demanded equal treatment and a more efficient resolution process.
“We plead that you intervene by advising CBN to pay all depositors in full without further delay. Advise that a few other banks absorb the depositors while ensuring a smooth transition as was done in the case of Unity Bank and Providus Bank,” the statement continued.
The depositors further urged the National Assembly to ensure:
- The use of Heritage Bank’s reserve ratio to settle depositor claims.
- Equal treatment of depositors, as was done with First Bank.
- Verification of the Nigeria Deposit Insurance Corporation’s (NDIC) claim that 85% of depositors have received insured sums, and prompt payment to all eligible depositors.
The appeal underscores growing concerns over financial stabihttp://First Bank. Verification of the Nigeria Deposit Insurance Corporation’s (NDIC)lity and depositor protection in Nigeria’s banking sector, with affected individuals calling for swift action to mitigate their financial distress.
