The Nigeria Deposit Insurance Corporation (NDIC) has urged the Nigeria Police, the Economic and Financial Crime Commission (EFCC), and other security agencies to prepare for the prosecution of directors and managers from the recently liquidated Heritage Bank.
Mr. Bello Hassan, the Managing Director and Chief Executive Officer of NDIC, made this appeal on Thursday in Lagos during the 2024 capacity-building workshop for law enforcement agencies. The workshop, themed “Inter-agency Collaboration in the Fight Against Financial Malpractice in Banks and Other Financial Institutions in Nigeria,” aimed to enhance the cooperation among various agencies in tackling financial crimes.
Hassan emphasized the necessity of investigating the actions of the managers and directors that led to the bank’s liquidation, stating that such scrutiny is essential to prevent future occurrences. He remarked, “As you are all aware, the Central Bank of Nigeria recently revoked the banking license of Heritage Bank PLC. This situation may necessitate calling upon you to investigate some of the directors, managers, and officers of this failed insured institution to hold those responsible accountable for the institution’s collapse.”
Acknowledging the difficulties inherent in investigating and prosecuting cases of financial malpractice and bank fraud, Hassan encouraged the law enforcement agencies to persist in their efforts. He assured them of the NDIC’s unwavering support, saying, “We are not unaware of the challenges of investigating and prosecuting financial malpractices and bank fraud cases but wish to urge you not to relent in your efforts and be rest assured of our unflinching support at all times.”
This call to action highlights the importance of inter-agency collaboration in addressing financial malpractice, aiming to ensure accountability and prevent future bank failures.
Source: Independent.ng
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