The Central Bank of Nigeria (CBN) has vehemently denied media reports alleging that it intends to revoke the licenses of Unity Bank, Keystone Bank, and Polaris Bank. On Tuesday, the apex bank took to its official Twitter handle to dismiss the report as “fake news.” Sharing a screenshot of the publication, the CBN stated:”This content is fake and not from the Central Bank of Nigeria.”
The denial follows the recent decision by the CBN to revoke the operating license of Heritage Bank.
Heritage Bank License Revocation
On Monday, June 3, the CBN announced the revocation of Heritage Bank’s operating license due to its violation of Section 12 (1) of the Banks and Other Financial Act (BOFIA) 2020. This action was deemed necessary to maintain a stable financial system in Nigeria.
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