PRESIDENT TINUBU MOURNS NAF PERSONNEL IN ONDO JET CRASH, ORDERS THOROUGH INVESTIGATION OF THE MISHAP. (PHOTO). #PRESS RELEASE.

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 STATEHOUSE PRESS STATEMENT PRESIDENT TINUBU MOURNS NAF PERSONNEL IN ONDO JET CRASH, ORDERS THOROUGH INVESTIGATION OF THE MISHAP   President Bola Tinubu has expressed profound sadness over the crash on Monday morning of a Nigerian Air Force ATR-42 jet near a naval base in the Igbokoda area of Ondo State.   The aircraft was on a routine mission from Benin to Lagos when the accident occurred.   The President extends his deepest condolences to the family of the 25 passengers and seven crew members involved, the Chief of the Air Staff, Air Marshal Sunday Kelvin Aneke, and all officers, airmen and airwomen of the Nigerian Air Force.   "This is a painful moment for our Armed Forces and for the entire nation. Our Air Force personnel put their lives on the line every day to secure Nigeria. Their sacrifice will never be forgotten."   “The Chief of Air Staff has briefed me, and I have directed the Nigerian Air Force to immediately commence a thorough investigation in...
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CBN REVOKES LICENCE OF HERITAGE BANK. (PHOTO).

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 CBN revokes licence of Heritage Bank


The Central Bank of Nigeria, CBN, has revoked the operating licence of Heritage Bank.


The Acting Director, Corporate Communications, CBN, Hakama Sidi Ali, disclosed this in a statement.

She said: “The Central Bank of Nigeria, CBN, in accordance with its mandate to promote a sound financial system in Nigeria and in exercise of its powers under Section 12 of the Banks and Other Financial Act (BOFIA) 2020, hereby revokes the licence of Heritage Bank Plc with immediate effect.


‘This action has become necessary due to the bank’s breach of Section 12 (1) of BOFIA, 2020.


“The Board and Management of the bank have not been able to improve the bank’s financial performance, a situation which constitutes a threat to financial stability.


“This follows a period during which the CBN engaged with the bank and prescribed various supervisory steps intended to stem the decline.


“Regrettably, the bank has continued to suffer and has no reasonable prospects of recovery, thereby making the revocation of the license the next necessary step.


“Consequently, the CBN has taken this action to strengthen public confidence in the banking system and ensure that the soundness of our financial system is not impaired.


“The Nigeria Deposit Insurance Corporation (NDIC) is hereby appointed as the Liquidator of the bank in accordance with Section 12 (2) of BOFIA, 2020.


“We wish to assure the public that the Nigerian financial system remains on a solid footing. The action we are taking today reflects our continued commitment to take all necessary steps to ensure the safety and soundness of our financial system.”

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