with its mandate to ensure the stability of the banking system and protect depositors’ funds. However, Peter Obi, the former Governor of Anambra State and presidential candidate of the Labour Party, has raised concerns about the impact of this decision on depositors and the broader banking sector.
Obi emphasized that the revocation of Heritage Bank’s license could exacerbate the economic challenges faced by individuals and small businesses, many of whom rely on their savings in the bank to survive. He called on the government, specifically the Nigeria Deposit Insurance Corporation (NDIC), to ensure the immediate and full payment of all depositors to alleviate the prevailing hardship.
The former governor warned that any delay or denial in payment could deepen the economic woes of depositors and erode public confidence in the banking system. He stressed the importance of maintaining stability and integrity in the financial sector, especially given the fragile state of the economy.
Obi’s statement reflects broader concerns about the potential ramifications of the CBN’s decision on Heritage Bank and its customers. As discussions around the revocation continue, ensuring swift and transparent actions to address the concerns of depositors will be crucial in maintaining trust and stability in the banking system.
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