Mercy Eke, a well-known Nigerian reality TV personality, took to social media to express her deep concern about the impending closure of Heritage Bank. She revealed that she has funds exceeding N100 million deposited with the bank.
Recall that the Central Bank of Nigeria (CBN) made the decision to revoke Heritage Bank’s banking license. This action followed reports indicating the bank’s financial struggles spanning over five years and its challenges in dealing with a significant amount of bad loans. Under the leadership of Yemi Cardoso, the CBN finally opted to revoke the bank’s license.
Mercy Eke disclosed that she had been aware of the news previously but was reluctant to accept the harsh reality. She explained that during her time as a participant on the reality show Big Brother Naija, contestants were advised to open accounts with Heritage Bank to receive their prize winnings.
Consequently, she chose to deposit some of her savings with the bank, unaware of its financial difficulties.
Despite the Nigeria Deposit Insurance Corporation’s (NDIC) assurance of reimbursing customers with balances under N5 million within a week, those with larger sums will have to wait until the bank’s assets are liquidated for reimbursement.