· Customers run to withdraw their money
· Bank plan to layoff workers

For one of the newest entrants into the Nigeria’s banking industry, it has become a case of one trouble to many for Heritage Bank Plc., as the financial institution continues to swim in the sea of controversies amidst financial improprieties.
As it stands, the bank is fast proving to be L’Enfant terrible in the Nigeria banking sector, as its name constantly pop up in almost all underhand dealing, featuring some Nigerian financial institutions.
Unless something drastic happens to salvage the situation, Heritage Bank may run into serious financial crises that may render it unable to meet its obligations as a deposit money bank.
The Central Bank of Nigeria (CBN) recently banned Heritage bank from the foreign exchange market. The bank suspension would remain in force until it remits all funds to the TSA (Heritage Bank ($85m).
Also, the bank was recently enmeshed in serious financial mess, following the discovery by the new management of Nigerian Ports Authority (NPA) that a whooping $24.1million (N9.399 billion) belonging to the maritime agency was lodged with the bank but kept away from the new management.
A source close to the NPA management said that the agency has shown sufficient proof that it has the $24.1million in the bank, but expresses surprise that a bank could claim ignorance of a princely $24.1 million hidden from the management.
More disturbing in the Heritage Bank saga, is the reported confession by the bank that it stands the risk of going under should the NPA insist on refund of the $24.1 million.
This medium also learnt, large number of customers of the bank are in panic as they plan to storm various branches of the bank to withdraw their money base on this worrying situation, as they believe it’s just a matter of days before CBN finally wave their axe.
Staff of the financial institution, who spoke to us also disposed that the bank is planning to sack a huge number of their staff due to the growing trend. The searchlight of the banks’ regulator is being beamed at the Heritage bank once again and this is authoritative.
Information has it that the banks is showing a similar characteristic as the rescued Skye bank, thus it is just a matter of days before the Central Bank swoop on the bank.
Insiders have revealed that there are several undercutting within the system and it’s just a matter of time before the CBN revokes its licence. If all things are not cleared, the present chairman of Heritage, who was the former Group Managing Director of Skye Bank may have questions to answer.
Recall, the bank was formerly Societe Generale Bank, owned by the Saraki dynasty. A case of show me your friend and I know who you are. To worsen the situation, the bank is not really visible when other banks mentioned or sighted at every distance.
It was also gathered that the staff of the bank are not well paid, coupled with the perceived bad networks that the bank has to tackle with all seriousness. These and many more, have trouble the bank in the recent time and one wonders if the bank would escape being taken over by CBN.

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