TSA Policy, Nigeria Banks Are Healthy, Coping Well Says CBN

The Central Bank of Nigeria has said that Nigeria Banks are coping very well despite the sudden movement of public funds from their custody to the Central Bank of Nigeria (CBN) under the Treasury Single Account (TSA).

The apex bank issued the clean bill of health yesterday following reported attempts to demarket some banks after CBN Governor Godwin Emefiele announced top management changes in Skye Bank.

Reacting to attempts to de-market Heritage Bank, a Senior official of the CBN, said:  “Like most banks in Nigeria, Heritage Bank is learning to cope with the sudden decision of the Federal Government to domicile all public sector funds with the CBN under the TSA regime.

“Other than this sudden movement of all public sector funds to the apex bank, Heritage Bank remains one of the healthiest and well managed banks in Nigeria. It’s internal mechanisms and controls are strong and the bank has practically overcome the shock most banks suffered as result of the domiciliation of all public sector funds with the regulator following the full implementation of the TSA regime.”

A shareholder of the bank, Alhaji Musa Ibrahim Misau, yesterday in Abuja, denied the claim of an online media platform that the bank is co-owned by the former Chairman of Skye Bank, Dr. Tunde Ayeni and the Senate President, Dr. Bukola Saraki.

“We are miffed at the attempt by certain persons, or groups who do not mean well for the economy of our great country and indeed the economic agenda of our dear President, to negatively target Heritage Bank, a bank that the CBN and several local and internal rating agencies have ranked among the healthiestin Nigeria, as a struggling bank. This  is a glaring case of de-marketing and we have since drawn the attention of the CBN to this  dangerous trend,” he stated.

He said Ayeni has less than one per cent share in Heritage Bank and Saraki has no shares or any form of ownership stakes in the bank

“It is not a secret that the owners and key shareholders in Heritage Bank bought off the defunct Societe Generale Bank (SGBN) which was owned by the Saraki family. The Saraki family was out-rightly bought out.

 “The family, including Dr.  Saraki does not have a dime in Heritage Bank. We have in just a few years built this bank to a colossus that has become the envy of the sector and we are not going to sit by and allow ill-intentioned persons to de-market Heritage Bank,” he said.