The Central Bank of Nigeria (CBN) has refuted reports that it plans to revoke the operating licenses of Unity Bank, Polaris Bank, and Keystone Bank. The CBN made this clarification following a false online report that suggested the apex bank would revoke the licenses of the three banks, allegedly after revoking Heritage Bank’s license.
In a statement, the CBN described the report as “false and misleading” and urged the public to disregard it. The statement reassured stakeholders that the CBN remains committed to maintaining the stability of the financial system in Nigeria.
On Monday, the CBN revoked Heritage Bank’s license due to the bank’s failure to improve its financial performance. The revocation was made pursuant to the CBN’s powers under the Banks and Other Financial Act (BOFIA) 2020.
Industry analysts have commended the CBN’s swift action in addressing the report, noting that it demonstrates the apex bank’s commitment to maintaining the integrity of the financial system.
In Essence
The CBN has reaffirmed its commitment to ensuring the stability of the financial system in Nigeria, and the licenses of Unity Bank, Polaris Bank, and Keystone Bank remain unaffected.
