Peter Obi called on the Federal Government, through the Nigeria Deposit Insurance Corporation, to promptly and fully compensate all depositors.
Labour Party presidential candidate Peter Obi has responded to the Central Bank of Nigeria’s recent decision to revoke Heritage Bank’s operating license.
Obi urgently implored the apex bank to swiftly implement measures to protect depositors’ funds and maintain trust in the banking sector, emphasizing the pressing nature of the situation.
In a Monday statement on X, Obi acknowledged the CBN’s assertion that the revocation was essential for financial stability but highlighted the significant consequences for Heritage Bank’s depositors, underscoring the potential ripple effects on the banking sector.
“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,” he stated.
Given the country’s severe economic challenges, Obi specifically called on the Federal Government, through the Nigeria Deposit Insurance Corporation, to promptly and fully compensate all depositors.
“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,” he said.
Obi emphasized the struggles faced by individual savers and small and medium-sized enterprises (SMEs) who are already dealing with significant economic challenges and rely on their savings from the now-defunct bank for their livelihood.
Obi cautioned that delaying or denying payments to these depositors could exacerbate their financial difficulties and result in a loss of trust in the banking system.
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