Nigeria: CBN’s Withdrawal of Heritage Bank’s Licence

[Daily Trust] The recent withdrawal of the operating licence of Heritage Bank Plc by the Central Bank of Nigeria (CBN) may have come to some people as a surprise, but to those who know the genesis of the action, it was the right course of action to take. As unfolding details have shown, Heritage was a crisis waiting to happen, with the potential to drag part of the banking system with it.

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