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Bayelsa Govt. seeks Heritage Bank support on youth devt in sport

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Bayelsa Govt. seeks Heritage Bank support on youth devt in sport

Bayelsa Govt. seeks Heritage Bank support on youth devt in sport

By Olorunfemi Adejuyigbe

Bayelsa Govt. seeks Heritage Bank support on youth devt in sport

Daniel Igali; Commissioner for Youths and Sports, Bayelsa State; Osepiribo Ben-Willie, Directorate Head, South-South, South-East & Private Wealth Management; Senator Lawrence Ewhrudjakpo, Deputy Governor; Jude Monye, Executive Director, Heritage Bank and Hon. Tare Porri, Chairman House Committee on Sports – Bayelsa state house of assembly during a courtesy call by the officials of Bayelsa State Government on the Management of the Bank, at Heritage’s Head Office in Lagos recently.

 

The Bayelsa State Government has indicated interest in partnering Heritage Bank Plc on youth empowerment and sport development.

The Deputy Governor, Senator Lawrence Ewhrudjakpo disclosed the interest of the State Government during a courtesy call with the Commissioner for Youths and Sports, Daniel Igali and others on the Management of the Bank, at Heritage’s Head Office in Lagos recently.

 

 

 

 

 

 

 

Ewhrudjakpo expressed the State Government’s readiness to collaborate with Heritage Bank to empower youths and develop sports at all levels with the intent to put measures in place to play-up their socio-economic wellbeing and for the identification and development of budding talents.

He also commended Heritage Bank for its pivotal role in enhancing youth development and supporting the entrepreneurial spirit for economic growth.

 

 

 

 

 

 

 

 

“We believe with that, there is going to be first, removing our youths from drugs dependency and we are also using them to win.

We really want to see how Heritage Bank can partner with us or support of which we have adequate publicity,” he stated.

 

 

 

 

 

 

 

 

 

 

Meanwhile, Ewhrudjakpo affirmed that Governor Douye Diri-led administration would do everything within its reach to foster a mutually beneficial partnership.

Whilst responding, the Executive Director of the Bank, Jude Monye who welcomed the delegates assured the Deputy Governor of Heritage’s readiness to support the Bayelsa Government on youth empowerment and sport development.

 

 

 

 

 

 

 

 

 

 

He noted that with the bank’s feats toward empowering young Nigerians and sport development showed the bank has strong desire towards developing and positioning youths to become world-class citizens equipped and ready to be absorbed into an increasing competitive professional skills and endeavours.

Monye further disclosed that Heritage Bank have been at the forefront of supporting good courses involving youth and sport, whilst reiterating the bank’s MD/CEO, Ifie Sekibo’s readiness to partner with Bayelsa State Government.

 

 

 

 

 

 

 

 

 

“On behalf of the CEO and the Board, I want to say, we will support the course of Bayelsa State as far as sports in concerned. Whether it is wrestling, athletic, football, soccer, we will be part of it,” he assured.

Adding, the ED said, “We have always supported good courses; we are a small bank and relatively new. We will support the Bayelsa State Government because we want to see the youth brought out of drug peddling and drug consumption to where their life can be useful.”

 

 

 

 

 

 

 

 

 

He recalled that when it concerns youth empowerment and sport development, the Bank had carved a niche in collaborating with public and private organisations, especial state governments such as Lagos, Rivers State, Ibadan amongst others to build a culture of sports together with the formal education and entrepreneurship in a bid to secure the future of the teaming population.

“As a bank, we have done something in sports known as schoolympics which was organised by the bank, partnered with the 3rd Edition of the annual Lagos Value Jet Para Table Tennis championship, Ibadan Golf Club’s 30th anniversary, 14th edition of the West African Universities Game (WAUG), partnered with Lagos State Government to back the 3rd Edition of the annual Lagos Value Jet Para Table Tennis championship, 2014 Port Harcourt Amateur Open Golf Championship, IBB Golf Tournament in Abuja to list but few,” he hinted.

 

 

 

 

 

 

 

 

According to him, “Heritage Bank believes in development. We have the tenacity to develop, and sport is a way of developing Nigerians both young and old to help foster their physical, social, and emotional wellbeing. It is a well-known fact that physical education and sports help in character and community building, delinquency reduction, community safety, economic and social development.”

Monye further noted that the drive to continue in the support of youths was to create, preserve and transfer wealth across generations.

 

 

 

 

 

 

 

 

 

He explained that the entrepreneur schemes of the bank in the support for business especially among the youths have always focused on dependable job-creating sectors, such as agricultural value chain (fish farming, poultry, snail farming), cottage industry, mining and solid minerals, creative industry (tourism, arts, and crafts), and Information and Communications Technology (ICT).

Bank

Access Bank Win Against Sonny Odogwu’s Estate As  Court Orders him To Pay N26bn Debt

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Access Bank Wins Against Sonny Odogwu

Access Bank Win Against Sonny Odogwu’s Estate As  Court Orders him To Pay N26bn Debt

Access Bank Wins Against Sonny Odogwu

 

Justice Daniel Osiagor of the Federal High Court, Lagos today upheld the N26 billion debt claim by Access Bank PlC against the estate of the late Ide Ahaba of Asaba, Chief Sonny Odogwu.

Osiagor upheld the bank’s claim after dismissing the preliminary objection filed by the estate of the late Chief Sonny Odogwu challenging the claim of the bank adding that a consent judgement had earlier been entered in which parties to the debt agreed on the payment of N12 billion as full and final payment.

 

 

 

 

The defendants in the preliminary objection added that having taking benefit of the consent judgement, the plaintiff can’t turn around and ask the court to set aside same.

However, Access Bank it it’s claim before the court said the said judgement was floored in that it was delivered by a court that lacked jurisdiction to entertain it at the time it was entered as consent judgement.

 

 

 

 

 

The bank through it’s counsel, Kemi Balogun, SAN said the matter having been placed at the bossom of the Court of Appeal , the lower court which entered the consent judgement as the judgement of the court is Functus Officio ( lacked jurisdiction) and that the only court that has the power to adjudicate on such matter at that level is the appellate court.

Justice Osiagor while dismissing the objection of the defendants nullified the consent judgement entered by Justice Rilwan Aikawa which sanctioned the consent judgement on the ground that it lacked jurisdiction to grant such order as it is functus officio of the matter as at the time he granted the order.

 

 

 

 

 

 

 

The judge then affirmed the earlier judgement of justice Saliu Saidu which ordered the defendants to pay it’s outstanding indebtedness of N26 billion.

Justice Osiagor however ruled that the payment must be less all amount earleir paid to the judgement creditor

 

 

 

 

 

 

 

 

The court also award a cost of N200,000 against the defendants’.

It would be recalled that Access Bank Plc and the late Ide Ahaba of Asaba, Chief Sonny Odogwu, entered into a N26 billion loan agreement when he was alive. The late businessman wanted to use the facility to build luxury apartments to be known as Le Meridien Grand Towers in highbrow Ikoyi, Lagos.

 

 

 

 

 

 

 

In line with global best practices, the bank demanded for collateral security.

Thus Odogwu mortgaged prime properties in Lagos, Abuja, Dubai, and Los Angeles to Access Bank in return for the facility. After the death of the businessman, the mortgaged properties eventually become a subject of litigation

 

 

 

 

 

 

 

 

 

Trouble started when the estate of the late Chief Odogwu, reacted angrily to a move by Access Bank to take over the uncompleted property due to the non performance of the loan.

The defendants’ went to town with a statement that the property was not part of the consent agreement reached by both parties, and registered as a judgment of Federal High Court, Lagos. The release signed by the estate lawyer, Chief Anthony Idigbe SAN was published by various media platforms on Tuesday.

 

 

 

 

 

 

 

 

Reacting to the statement, Access Bank said that the Ikoyi property was not the only one that fell within the purview of the November 3, 2015 Federal High Court judgment that ordered the bank to take over the properties used it as collateral in lieu of the N26 billion loan facility.

Other properties include Berendo Property located in Los Angeles, State of California, United States of America, Unit No: FN428, The Fairmont Palm Residence (North), Dubai, United Arab Emirates, Asokoro Shopping weMall, Abuja, 1 Happy Home Street, Kirikiri, Lagos, properties located at Kingsway and Lawrence Roads, Ikoyi Lagos.

 

 

 

 

 

 

 

Access bank also stated that it is is the successor in title to Diamond Bank Plc following its merger with Diamond Bank Plc.2

The crux of the matter was that former Diamond Bank PlC granted facilities to the Judgment Debtors for the construction of a property to be known as Le Meridien Grand Towers located and lying at 31-35 Ikoyi Crescent, Lagos and registered as No. 17 at page 17 in volume 100 at the Federal Lands Registry, Ikoyi, Lagos. The property is mortgaged to the bank as collateral for the facilities.

 

 

 

 

 

 

 

 

However, litigation that ensued over the inability of company, Robert Dyson & Diket Limited to liquidate the facility, Access Bank secured a Judgment in the sum of N26,229,943,035.22 consequent upon a Federal High Court judgment in Suit No. FHC/L/CS/1633/2014 delivered on 3rd November 2015 against Robert Dyson & Diket Limited & 2 Ors (the Judgment Debtors) in relation to the Project Finance for development of a seven-star hotel and residences (“the Project”).

Following the Judgment, Robert Dyson entered an Appeal against the said judgment and a motion staying the execution of same in APPEAL NO: CA/L/1151/2015 – ROBERT DYSON & DIKET LIMITED & 2 ORS. V. DIAMOND BANK PLC & 3 ORS.

 

 

 

 

 

 

 

The Judgment Debtors also filed a Counter-Claim against the Access Bank in the State High Court: SUIT NO: LD/1666CMW/2016 – LEADWAY CAPITAL & TRUSTS LIMITED V. DIAMOND BANK PLC & 2 ORS.

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FirstBank Branch, Head office, not Sealed

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FirstBank

FirstBank Branch, Head office, not Sealed

FirstBank

 

Our attention has been drawn to the news reports online with the conflicting claims that FirstBank branch or/head office has been sealed.

 

Please be informed that the referenced story is a misrepresentation of the facts and misleading. Neither our branch nor head office was sealed. On the 4th of August, 2022, there was an unlawful enforcement at the Bank’s Coomassie House Branch of a garnishee order issued by a Federal High Court sitting in Abuja which order the Bank is still challenging in court.

 

 

 

 

While the Bank has taken appropriate legal steps to deal with the situation, we wish to reassure our customers of unhindered banking services and unique customer experience in all our branches and through our numerous alternative channels.

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RE: Online Publication on Purported Sale of Polaris Bank

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Polaris Bank

RE: Online Publication on Purported Sale of Polaris Bank

Polaris Bank

Our attention has been drawn to an online report on the purported sale of Polaris Bank Limited.

This publication is speculative, deliberately intended to create panic and should be disregarded by the banking public.

 

 

 

Stakeholders may recall the regulatory intervention in the erstwhile Skye Bank by the CBN and the subsequent injection of capital via the Asset Management Corporation of Nigeria (AMCON) through a bridge bank process, which birthed Polaris Bank in 2018. The bank has since stabilized its operations following the intervention; improving its balance sheet, customer base and profitability.

Whilst the intention has always been to return the bank to private ownership, such a sale would occur following regulatory approvals with formal notification to all relevant stakeholders. The Bank is committed to ensuring timely communication to the public in such an event.

 

 

 

 

 

The Board and Management hereby reassure its customers, staff and the general public that Polaris Bank remains a stable, strong and credible financial institution, positioned to deliver sustainable value to all its stakeholders.

Signed
Management

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