Central Bank of Nigeria, on Tuesday, denied any plan to revoke the licences of Unity, Polaris, and Keystone banks.
Online media reports (not Daily Newshub) had claimed that the apex bank would terminate the licences of the three banks, following the revocation of Heritage Bank’s licence.
But the apex bank in a post on its social media pages on Tuesday, said the content of the report was not authentic.
“The content is fake and not from the CBN,” the post reads.
Recall that on June 4, CBN revoked the banking licence of Heritage Bank.
The apex bank said the decision was made due to the commercial bank’s inability to improve its financial performance.
“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,” CBN said.
But the apex said Heritage Bank had not improved and “has no reasonable prospects of recovery”, thereby making the revocation of its licence imperative.
CBN said following this, it appointed the Nigeria Deposit Insurance Corporation as the liquidator of the bank per Section 12 (3) of the Banks and Other Financial Act (BOFIA) 2020.
The apex bank added that the revocation reflected its continued dedication to take all necessary steps to ensure the safety and soundness of Nigeria’s financial system.
