• Heritage Bank had its licence revoked by the Central Bank of Nigeria Edited
• But before this, their customers had been complaining about not being able to complete transactions
• Following the bank’s closure, Nigerians are concerned about those who would lose their jobs

TheRadar had reported that the Central Bank of Nigeria (CBN) revoked the licence of the bank on Monday due to the inability of the bank’s Board and Management to improve its financial performance, a situation the CBN said constitutes a threat to financial stability.

The news of the CBN revocation of the bank's licence was among the trending issues on various social media platforms, apart from the strike by the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC).

Heritage Bank's closure got people talking

Nigerians, who took to many social media platforms, especially X (formerly Twitter), to express their experience with the bank in the months prior to the licence revocation, said their money remained inaccessible for various unexplainable reasons.

A user on the micro-blogging app, @Sub_nurse1, wrote, “Their bank app is not working, my money is (sic) heritage bank and that of my parents is hanging as they grumble in regret haven been convinced by me to bank with @heritagebankplc. How do we recover our money please? Any help will be appreciated.”

@mrblingy tweeted, “People will do jail. A friend of mine has 10M in Heritage. I am nonplusssed about it. I asked him if any creditor had ever given him a Heritage bank acct to pay into? He deposited these funds into the bank to “help” a friend working in the bank."

@Sholabaggio said, “Maybe na why Dem call me last week. I no fit transfer money out o. Wahala.”

@lucydymphna wrote, “Please I just saw the post of revoking the license of heritage bank. What about my money there, my entire like savings…Please @cenbank do something please.” @bj_amwenche tweeted, “So what is the apex bank going to do the heritage bank customers? Because I’m also one.”

@Yeibabaa wrote, “My pain in all today’s drama is Heritage Bank matter. How I go fit gey my payout bayi?"

Some other X users, while reacting to the CBN’s announcement, recalled their experience with the bank.

@IGalare said, “For those who know this thing should have been done about 7 years ago; but banking regulation wasn’t CBN priority then.”

On his part, @AlagbaSD wrote, “Saying Heritage Bank’s issues dated back to 2018 is not correct. I joined that unfortunate bank in 2016 and had to run for my dear life in 2017. In 2016, they practically reduced salaries by 30%.”

@rhonnie_kr wrote, “Heritage Bank was the fastest bank in Unizik to pay school fees physically one year like that o.”

On Facebook, Comfort Eva said, “What happens to depositors funds? And pensioners who

receive salary through this bank? What measures have been taken to ensure people get their money already in the account from this bank before their closure? I’m asking because should my mother see this, I’m not sure she’d be fine knowing she has little token there that could help her survive.”

Another Facebook user, Samson Osiobe, said, “Bank with almost every day network issue.”

Fear over job losses

There is also palpable fear over the loss of jobs by staff of the bank given the increasing unemployment rate in the country.

To this end,@Jes_see_kah, wrote, “GOD!!! Heritage Bank o. I’m looking at my friend and I don’t know what to say to her. Wake up with a job and a few hours later you’re jobless. God abeg!”