Prof. Evans Osabuohien, a prominent economist and head of the Department of Economics at Covenant University, has stated that the acquisition of Heritage Bank by another investor would have been a more favorable alternative than the outright revocation of its operating licence. The Central Bank of Nigeria (CBN) revoked the licence due to alleged threats to financial stability. Osabuohien described the decision as shocking, warning it could result in job losses and customer tension. He urged the CBN to re-strategize and strengthen its regulatory framework to prevent such crises in the future.

Banking, Regulatory,Nigeria