The House of Representatives has assured depositors of the safety of their funds and urged all depositors and stakeholders of Heritage Bank to remain calm, affirming that their interests are well protected. This follows the recent revocation of Heritage Bank's license by the Central Bank of Nigeria (CBN) and the appointment of the Nigeria Deposit Insurance Corporation (NDIC) as liquidators.

The House emphasized the importance of effective public communication from both the CBN and NDIC to alleviate public fears and maintain trust in Nigeria’s financial system during this period. House spokesperson Akin Rotimi, in a statement from Abuja, reiterated the priority to safeguard depositors' interests and ensure financial stability.

Rotimi stated, “The House of Representatives acknowledges the recent actions taken by the CBN and NDIC. We assure the public, particularly depositors and stakeholders of Heritage Bank, that we are committed to our oversight role to ensure this development does not adversely impact Nigerians. Relevant House Committees on Banking Regulations and Insurance will diligently examine the situation and the steps taken by the NDIC."

The statement further highlighted the House's commitment to engaging with CBN, NDIC, and other stakeholders to ensure a transparent and orderly resolution process. Chairman of the House Committee on Banking Regulations, Rep. Mohammed Bello El-Rufai, emphasized that the Committee will monitor the liquidation process to protect depositors' rights with transparency and accountability.

Additionally, Rep. Ahmed Usman Jaha, Chairman of the House Committee on Insurance and Actuarial Matters, assured that the NDIC would execute its mandate effectively to protect depositors’ funds and maintain confidence in the financial sector. He reiterated that under the NDIC Act and the Banks and Other Financial Institutions Act (BOFIA), depositors’ funds are insured and protected.