CBN – Why we revoked
CBN – Why we revoked Heritage Bank’s licence
’s licence
CBN – Why we revoked Heritage Bank’s licence
The Central Bank of Nigeria (CBN) revoked Heritage Bank’s license primarily due to the bank’s failure to meet regulatory requirements. The CBN cited several specific issues, including non-compliance with the guidelines for payment of necessary fees, such as license renewal, and failures in rendering returns as required by the guidelines. Additionally, Heritage Bank did not adhere to directives and circulars from the CBN, particularly those related to Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and Counter-Proliferation Financing (CPF) regulations
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