The Honorable Member Representing Idemili North and South Federal Constituency, Hon Uchenna Harris Okonkwo, has taken action to bring hope to Nigerians and his constituents who may be affected by the recent developments surrounding the Heritage Bank crisis.
Hon. Okonkwo, deeply concerned about the welfare of his constituents and Nigerians, moved a motion on the “Urgent Need to Investigate the Heritage Bank Crisis and Protect Depositors’ Interest.” He recalled that on June 3, 2024, the Central Bank of Nigeria (CBN) publicly declared the revocation of Heritage Bank’s license, citing its violation of Section 12(1) of the Banks and Other Financial Institutions Act (BOFIA), 2020. Consequently, The CBN designated the Nigerian Deposit Insurance Corporation (NDIC) as the entity responsible for overseeing the liquidation process.
Hon. Okonkwo’s motion seeks to protect the interests of depositors affected by the development and expresses concern that, amidst the prevailing economic challenges in Nigeria, the financial stability of Nigerian citizens has been significantly compromised. He calls on all agencies, parastatals, and institutions involved to address the issues urgently.
The lawmaker’s motion also urges the National Assembly to strongly advocate for fair and compassionate compensation for depositors who have been adversely affected by the unfortunate failure of Heritage Bank.
Hon. Uchenna Harris Okonkwo Moves Motion on “Urgent Need to Investigate Heritage Bank Crisis And Protect Depositors’ Interest”
