Peter Obi, the Labour Party presidential candidate for the 2023 general election, has called on the federal government to ensure the immediate payment of all depositors in Heritage Bank.
This follows the recent Central Bank of Nigeria (CBN) revocation of Heritage Bank’s operating license and the appointment of the Nigeria Deposit Insurance Corporation (NDIC) as the liquidator of its assets.
The CBN and regulators have deemed this action necessary to enhance financial stability. However, Obi highlighted the far-reaching impact on the bank’s depositors, urging the federal government and NDIC to act swiftly given the harsh economic realities currently faced by the country.
In a post on his X handle, Obi stated that, ” The latest CBN’s revocation order on Heritage Bank’s operating license and subsequent appointment of NDIC as liquidator of its assets though affirmed by the regulators as necessary at this point to enhance financial stability, has a far-reaching impact on the bank’s depositors.
“Given the harsh economic realities in the country now, I will urge the federal government via NDIC to ensure immediate payment of all depositors in Heritage Bank in full to help alleviate the prevailing hardship the people are going through in the country.
“Many individual savers and SMEs are already groaning under severe negative effects of the economy and already living in abject poverty. These depositors depend on the savings they have in the now-liquidated bank to survive.
“Any attempt to deny or delay payment to these depositors would worsen their economic woes and could lead to a crisis of confidence in the banking system.
“Anything short of immediate and full payment can create panic in the banking sector which our already fragile economy cannot afford.
“On no account should the actions of government through the CBN destabilize the financial system or shake public confidence in the integrity of the system,” Obi concluded.
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