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THE Nigeria Deposit Insurance Corporation (NDIC) has approved a second liquidation dividend of N24.3 billion for depositors of the defunct Heritage Bank Limited whose account balances exceeded the N5 million statutory insurance limit. In a statement issued by Head of the Communication and Public Affairs Department, Mr Hawwau Gambo, the NDIC said the funds were […]
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THE Central Bank of Nigeria (CBN) has revoked the licenses of Aso Savings and Loans Plc and another bank, Union Homes Savings and Loans Plc, for violating guidelines in the Banks and Other Financial Institutions Act (BOFIA). In a statement sent to Economy Post on Tuesday, the nation’s apex bank said the two mortgage banks […]
….Bank to be liquidated The Central Bank of Nigeria (CBN) has revoked the banking license of Heritage Bank, appointing the Nigerian Deposit Insurance Corporation (NDIC) as its liquidator. In a statement sent to Economy Post on Monday morning, the CBN said this revocation was in accordance with its mandate to promote a sound financial system […]