Why Heritage Bank refuses to pay Geonel Integrated Services Limited, as bank says it’s not distressed

The management of Heritage Bank has dismissed speculations about the financial condition of the bank, as it urged depositors not to entertain any fear, saying the bank is not distressed.

Reacting to the claims by a company, Geonel Integrated Services Limited that Heritage Bank should be closed down because it is insolvent, the bank said contrary to the report, the bank has only refused to honour its obligatory engagements with the firm because its (Geonel Integrated Services Limited)’s account is actually currently being investigated for financial crimes by the Economic and Financial Crime Commission (EFCC) and the latter actually ordered Heritage Bank to freeze the company’s account.

In a statement issued today and made available to The DailyBells Nigeria, the bank described the earlier report as malicious and untrue as it is not in distress as it is capable to honour its obligations to customers and numerous stakeholders alike.

Read the Press statement below:

EFCC, COURT ORDER HERITAGE BANK TO FREEZE GEONEL INTEGRATED SERVICES’ ACCOUNTS

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“Our attention has been drawn to a malicious and untrue report trending online, titled, “Heritage Bank Should be Shut Down- Company Tells Court, CBN” and about the bank’s financial and liquidity condition that questioned the ability of the bank to honour its obligatory engagements with a customer, Geonel Integrated Services Limited.

“We want to categorically state that the allegation is not true as the Geonel Integrated Services Limited’s account is currently being investigated for financial crimes by the Economic and Financial Crime Commission (EFCC).

heritage bank

“However, the bank was advised formally to freeze the account by the federal agency through court injunction pending when the investigation will be concluded.

“The investigation is still ongoing and the bank is under obligation to respect a valid order of court.

“We want to state categorically that Heritage Bank is not distressed as being malevolently reported, the bank is capable to honour its obligations to customers and numerous stakeholders alike.”

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