Abuja, Nigeria – In a shocking move, the Central Bank of Nigeria (CBN) has taken over Heritage Bank Plc, revoking its banking license with immediate effect.

According to sources, the CBN acted due to Heritage Bank’s failure to improve its financial performance, posing a significant threat to Nigeria’s financial stability.

The Nigeria Deposit Insurance Corporation (NDIC) has been appointed as the liquidator, tasked with managing the bank’s assets and liabilities.

This development comes after repeated warnings and supervisory actions by the CBN, which ultimately deemed the bank’s recovery prospects untenable.

Heritage Bank customers are advised to remain calm, as the NDIC will work to ensure a smooth transition and minimize disruption to banking services.

Stay tuned for further updates as this story unfolds.