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From Okey Sampson, Umuahia
Depositors of liquidated Heritage Bank have written petitions to President Bola Tinubu and the National Assembly over their held funds in the collapsed bank, urging them to intervene and ensure the release of such trapped deposits.
In the petition to President Tinubu, and signed by Chief Offor Okorie, N. Njoku, S. T. Omeje, I.E. Uwakwe and Ms G. Okuntade on behalf of other depositors with N5m and above, the people said since June 3, when the Central Bank of Nigeria (CBN) revoked the operating licence and closed Heritage Bank, they have been unable to access their funds with the attendant financial distress which has resulted in their livelihoods and businesses hanging in the balance.
They called to question the Nigeria Deposit Insurance Corporation’s (NDIC) claim of having paid over 80 percent of the distressed bank’s customers with less than N5m deposit.
The petitioners told the president that they relied wholly on the CBN’s advise and assurances as the supervisory body, that the bank was not in distress, only to be taken aback on June 3, when the CBN turned around to announce the closure of Heritage Bank without any concrete plans to pay customers with N5m and above deposits.
“Based on CBN’s periodic statements on the state of the financial system under its direct oversight and supervision, we had trusted that the apex bank would ensure the stability and soundness of Heritage Bank
“However, CBN’s failure to remedy the alleged mismanagement of Heritage Bank in a timely manner has led to this devastating outcome (closure of the bank and the adoption of the curious option of liquidation that imperils depositors’ funds).”
They appealed to the president to among others, direct the CBN to settle all depositors in full from the Heritage Bank cash reserve ratio held with the CBN and allow the apex bank to recoup the expenses from the funds realized from the assets of Heritage Bank.
“We believe that your intervention is crucial in resolving this crisis and restoring confidence in the banking system.
“We are confident that your timely intervention will ensure justice and fairness as well as promptly relieve us of the pains occasioned on us, our families and businesses by this rather curious option by CBN on the Heritage Bank failure resolution.”
In the same vein, the petitioners appealed to the National Assembly to intervene by advising the CBN to direct other solvent banks to absorb Heritage Bank’s depositors of N5m and above while ensuring a smooth transition as was done in the case of Unity Bank and Providus Bank.
Addressing journalists over the issue, Chief Offor who is the leader of the depositors said they were in dilemma as they could no longer meet their financial obligations.
He proposed that the CBN should extend a loan to the Nigeria Deposit Insurance Corporation (NDIC) to facilitate the prompt settlement of depositors’ claims, and the loan recuperated through the eventual disposal of Heritage Bank’s assets.
