BellBank has announced its intention to challenge the revocation of its operating licence by the Central Bank of Nigeria (CBN), ...
BellBank has announced its intention to challenge the revocation of its operating licence by the Central Bank of Nigeria (CBN), saying it disagrees with the reasons given for the regulatory action.
In a statement issued to customers and signed by the Founder of the bank, Bello Kano, the institution said it was aware of the CBN's recent publication announcing the revocation of its licence.
The bank stated that it "respectfully disagrees" with the reasons for its inclusion in the CBN's list of affected institutions and disclosed that it is filing a formal appeal with the appropriate authorities.
BellBank also expressed appreciation to its customers for their continued confidence and support despite the development.
"We appreciate your concern and sincerely thank you for your trust and continued support. We will keep you updated as the process progresses," the statement read.
The Central Bank of Nigeria had earlier announced the revocation of the licences of several financial institutions as part of its regulatory oversight.
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