Heritage Bank Writes Customers On Its Forex Market Suspension


As a follow up to its suspension from accessing the forex market, Heritage Bank Limited has just released a statement to all its customers clarifying its position on the matter.

“The Central Bank of Nigeria has recently announced the temporary suspension of nine Commercial Banks including Heritage Bank from accessing the foreign exchange market. The suspension cuts across most commercial Banks in Nigeria and relates to the directive of the Federal Government regarding full compliance with remittances of Government funds to the Treasury Single Account (TSA)”.

Without explaining the nitty-gritty and circumstances surrounding its suspension, Heritage Bank said “As a customer centric institution we remain conscious of the interpretation and impact of this decision. Be assured that we are currently engaging regulators and other relevant stakeholders to ensure an expedited resolution. Our frontline officers will be reaching out to you within the next few days to clarify and address any further enquiries you may have”.

“Furthermore, please be assured that this pronouncement does not impair our financial services to you. We would continue to provide unhindered and seamless banking access through all our channels including: Over the counter cash payments (OTC), MasterCard (Naira and Dollar) cards, Internet & Mobile Banking applications, Local and International Money transfers including Money gram and Western Union as well as offshore remittances for clients who retain domiciliary balances with the Bank. We will also be able to treat non valid for FX form M and Letters of Credit transactions on the back of the Bank’s offshore lines.”

Heritage Bank assured its customers that it is “committed to offering distinctive financial services as we are focused on our promise to create, preserve and transfer wealth across generations”.

Less three hours ago, the CBN released a statement confirming that it has lifted its ban on United Bank of Africa. Other banks are required to pay back NNPC funds in their custody before getting re-admission.

Leave a Reply

Your email address will not be published. Required fields are marked *