CBN speaks on reported plans to close down 3 Commercial Banks after Heritage Bank

The Central Bank of Nigeria (CBN) has said it has no plans to revoke the licenses of Unity, Polaris and Keystone banks.

Online reports, not Legit.ng claimed that the central bank would revoke the licenses of the three banks, similar to Heritage Bank.

In reaction, CBN posted on its social media pages on Tuesday, June 4, that the content first published by the Scrutiny was fake.

The post reads:

“The content is fake and not from the CBN”

CBN revokes Heritage Bank banking license Legit.ng had reported the CBN on Monday, June 4, revoked the licence of Heritage Bank.

According to the CBN, the decision was made because the bank had failed to improve its financial performance. CBN, in a statement, said:

“The Board and Management of the bank have not been able to improve the bank’s financial performance, a situation which constitutes a threat to financial stability."

The closure of Heritage Bank has led to rumours that the CBN will turn attention to other commercial banks.

Nigerians react to CBN reaction

Social media users have reacted to the fake news that the CBN will revoke the licenses of Unity, Polaris and Keystone banks.

@olumidecapital: "This is not a joke; it caused a lot of damage to the investors in the banks yesterday."

@oshinterbz: "I have already closed my Keystone bank account."

@luxlyangels: "The editor of the newspaper should be punished. Now is the time when the law should be put in place to use social media, or the people will learn a lesson."