The People's Parliament

My husband have all his Life sav!ngs of 30 M Na!ra in Heritage Bank that was closed down by CBN and ever since the NEWS broke out, my husband does not have access to his m0ney again and is worried about what will happen to his Life sav!ngs Atanda, pls we need answer My Reply; It is unfortunate that the CBN did not do well to alert the bank cust0mers so they can pull out their m0ney before closing d0wn the bank This is a wrong way of doing things by the CBN. This is what will happen to your husband m0ney. Your husband will be paid only 5 M Na!ra out of the 30 M he had with the Bank because the NDIC dep0sit !nsurance coverage only covers 5 M na!ra for cust0mers who have more than 5M in their acc0unt and he will be paid after the CBN liquidates all the banks asset. So your husband should accept the new reality that he has L0st 25 M Na!ra. But for cust0mers who have below 5M, they will get back their full m0ney. That's why we say its not safe to keep your m0ney in the Bank. Stack them up in Shar£s, St0ck, ETF or Treasury Bill Stack them up on Pr0perties Ignorance of the law is not an excuse