The news that the Central Bank of Nigeria (CBN) intends to cancel the licenses of Unity, Polaris, and Keystone banks has been characterized as untrue.
Online reports state that after Heritage Bank’s license was revoked, the apex bank intends to revoke the licenses of three more banks. But the bank claimed the content wasn’t real and didn’t come from them in a statement on Tuesday on social media.
On June 3, the Central Bank of Nigeria (CBN) revoked Heritage Bank’s banking license, citing the bank’s inability to improve its dire financial situation as justification.
The apex bank said: “The board and management of the bank have not been able to improve the bank’s financial performance, a situation which constitutes a threat to financial stability.
“Heritage Bank had not improved and has no reasonable prospects of recovery, thereby making revoking the license the next necessary step.
“The revocation, according to the apex bank, reflects its continued dedication to take all necessary steps to ensure the safety and soundness of Nigeria’s financial system.”
