An Abuja company has asked the Federal High Court and the Central Bank of Nigeria (CBN) to wind up Heritage Bank and revoke its operational licence, citing what it called the banks financial insolvency.
Geonel Integrated Services Limited, a security services company, said in a petition filed at the Federal High Court that Heritage Bank has been showing signs of distress and insolvency in recent times and may cause colossal economic damage to Nigerians unless it is wound up by the court.
To that end, it asked the court and CBN to invoke the provisions of Sections 408, 409 and 410 of the Companies and Allied Matters Act 1990 to liquidate the bank as it is unable to meet up with the demands of its customers because it is distressed.
Geon…
Read the full article at: http://saharareporters.com/2017/03/01/abuja-company-wants-heritage-bank-wound-over-insolvency-distress
