The Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Sen Mukhail Adetokunbo Abiru has called on the Nigeria Deposit Insurance Corporation (NDIC) to protect the interest of depositors and employees in the Heritage Bank.
Elanza News reports that the Central Bank of Nigeria (CBN) has taken the decision to revoke the license of Heritage Bank with immediate effect.
While hailing the decision of the CBN to revoke the license of Heritage Bank, Abiru said it is the right step in the right direction.
Speaking through his special adviser Prof Uche Uwaleke, Abiru said the CBN is in the right direction adding that NDIC must protect the interest of both the depositors and the employees through liquidation of dividends.
“I think the revocation of the license of Heritage Bank by the CBN is a step in the right direction,” Abiru said, adding that the CBN was proactive.
“This proactive step by the CBN is in the overall interest of financial system stability.
“With the NDIC taking over the liquidation process, efforts should be made to protect the Depositors as well as interests of employees using liquidation dividends,” Abiru added.”
