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Heritage Bank’s 8 years journey of entrenching business of banking in Nigeria

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Heritage Bank’s 8 years journey of entrenching business of banking in Nigeria- Today marks a worthy milestone in the life of one of the fastest growing financial service provider, Heritage Bank Plc as it celebrates eight (8) years of entrenching seamless service delivery in the business of banking in Nigeria.

 

 

This is a journey that began eight (8) years ago, premised on passion, commitment, doggedness, culture and hard work amongst others, stands today as a reputable financial organisation in the Nigeria banking space.

The story began in 2012; a story of hard work and determination when Heritage Bank Plc emerged from a business combination of Heritage Banking Company Limited (HBCL) and Enterprise Bank Limited (EBL) after the acquisition of Societe Generale of Nigeria’s (SGBN) license by IEI Investment Ltd from the Central Bank of Nigeria (CBN) having met all requirements by Nigeria’s apex bank.

 

Heritage Bank returned 100% of existing SGBN account holders’ funds which were frozen at the closure of the SGBN. This move brought a lot of smiles to the faces of former account holders and inspired many of them to open new accounts with Heritage Bank. In October 2014, Heritage Banking Company Ltd successfully met the requirements of the Asset Management Corporation of Nigeria (AMCON) and the CBN toward owning 100% shares in Enterprise Bank Ltd., after a highly competitive bid process. This development firmly anchors the Heritage Bank in a rich legacy of technology and innovation in the banking industry. SGBN, which was incorporated in December 1976 and commenced full banking operations in August 1977, pioneered the introduction of e-banking services including its flagship, the 24/7 Cashpoint through the Automated Teller Machines (ATMs) in 1990.

 

With a management focused on innovation through technology and a unique philosophy to create, preserve and transfer wealth to its customers, Heritage Bank found itself in a fiercely competitive banking environment but it remained guided by passion, resilience, innovation and a brand architecture that exuded quality service, performance and sheer excellence.

Still, as big a move as it was, it remained just one of the many strategic moves to change the banking industry and Heritage Bank has made a lot of them and attains giant strides in reshaping the economy since it began operations in 2013 to drive improved investment outcome and job creation.

Success stories of entrenching business of banking in Nigeria:

 

As a catalytic financial institution, Heritage Bank, through its strategic partnerships with government and private organisations, has continued to make efforts to transforming the nation’s economy through championing entrepreneurial schemes for businesses and the micro, small and medium enterprises (MSME) sector was not left out, which have always focused on dependable job-creating sectors, such as education, 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).

 

In recent times, the bank’s response to dealing with the global economic challenge occasioned by COVID-19, which highly impacted SMEs, Heritage Bank PLC has continued to deepen its support to young entrepreneurs in Nigeria to grow their businesses either as start-ups or prospective business owners.

 

One of such is the last Season of the reality TV show The Next Titan, themed “The Unstoppable” that was designed to search for business ideas that are immune to any pandemic, innovations that break boundaries and technologies that can survive any lockdown. This programme produced a young vibrant entrepreneur, graduate of the Federal University of Technology Owerri with a Bachelor Degree in Environmental Science who is the Chief Executive Officer of Josult Oil Processing Company, a palm oil processing company in Akwa Ibom State, Joshua Joseph Idiong, as he finally emerged the winner of the Next Titan Season-7, going home with a whooping sum of N10million. Furthermore, Heritage Bank PLC in partnership with Honourable Fatima Mohammed (FAMO) Foundation also provided succor to over 300 affected private school teachers and small medium enterprises (SMEs).

 

Heritage Bank has continued to blaze the trial on the SME’s space to empower young entrepreneurs in such schemes as the HB Innovation Lab Accelerator programme (HB-LAB), Ynspyre Account, Youth Innovative Entrepreneurship Development Programme (YIEDP), Centre for Values in Leadership (CVL) on Young Entrepreneurship Business Training Programme (YEBTP), Young Entrepreneurs and Students (YES) Grant and Nigerian Youth Professional Forum (NYPF), Big Brother Nigeria, Lagos Comic Con, among others.

Last year witnessed the Launch of the Nationwide Dukia-Heritage Bank Gold & Precious Metals which stands to create new opportunities for Nigeria to grow its potential reserves of 200 million ounces of gold.

 

The Nationwide Dukia-Heritage Bank Gold & Precious Metals Buying Centre will fast-track 10per cent contribution of mining sector to GDP by 2026. Referring to this giant strides, Prof. Yemi Osinbajo remarked that the launch of this project between Heritage Bank and ‘Dukia Gold SPV’ would enable Nigeria to mine reserves properly, trade responsibly, refine locally and boost the nation’s foreign reserves.

 

Heritage Bank has continued to support Nigeria’s aspiration and roadmap to become a leading Information Communication Technology (ICT) Hub in Africa, The Bank doled out the sum of $40, 000 grants to winners of the maiden edition of HB Innovative Lab.

The bank’s commitment is to create enabling environment, resources and support required to innovate and accelerate impactful solutions with the potential to radically improve financial inclusion/intermediation, health, automobile, agriculture, and other related problems affecting critical sectors of the economy.

 

For the bank’s giant stride of support to tourism, Federal Government commended Heritage Bank for its commitment to the development and growth of the creative industry.

Minister of Information and Culture, Alhaji Lai Mohammed, gave the commendation at a two-day Creative Nigeria Summit.

The bank, aimed at boosting Nigeria’s tourism via creative arts industry supported the sponsorship of exhibition at the National Museum Benin, at the Exhibition Gallery of National Museum Benin by the National Commission for Museums and Monuments (NCMM), in collaboration with the Edo State Government, and the Smithsonian Institute, United States of America.

 

Also, efforts are being taken by Heritage Bank Plc and the River State government during the National Festival of Arts and Culture (NAFEST) to make art and culture a unifying factor and major earner to the contribution of Gross Domestic Product (GDP) of the country.

Heritage Bank Plc partnered with the organizers of the International Festival of Contemporary Dance (IFCOD) to host the second edition of One Language, a musical production of intrigue, dance and drama.

 

 

Most prominent of its partnership and supports is the annual Calabar Carnival and festival, tagged “Africa’s Biggest Street Party,” was created as part of the vision of making Cross River State the number one tourist destination for Nigerians and other tourists across the world.

Heritage Bank is not done yet. The bank went further to prove its trend setting profile by driving seat of the agricultural financing revolution.

 

In a bid to support the real sector and unlock food potentials, Heritage Bank Plc provided over N5billion long term facility under the Commercial Agriculture Credit Scheme (CACS) to Triton Aqua Africa Ltd (TAAL).

TAAL known as Triton Farm accessed the CACS through Heritage Bank, which was used to set up aquaculture businesses; nursery/hatchery to produce fingerlings and brood stock in Ikeja and earthen ponds for catfish and Tilapia in Asejire, Iwo and Gambari towns in Oyo State.

Under the arrangement, TAAL will also help small-scale farms increase their fish production by making fingerlings available to them.

In the short term, the loan is expected to help Triton double its current production capacity of 25,000 metric tonnes with a projection to scale it up to 100,000 metric tonnes in five years.

The bank also has thrown its weight behind Globus Resources Limited, a subsidiary of Triton Group, to flag off the second phase of afforestation programme in Oyo state.

Nigeria’s demand capacity for fish was estimated at 2.7million metric tons and the country currently produces 800,000 metric tons.

Triton is now producing over 25,000 metric tons and with them on board, over 25,000 metric tons capacity will be added to our current production, the company’s projection is to exceed 100,000 metric tons in 5years.

 

In the state level, Heritage Bank entered into partnership with the Oyo State government in a multi-billion-naira project to give agriculture a boost.

Under the initiative, the bank supported the Oyo State Agricultural Initiative, OYSAI, a programme designed to revive agriculture, boost agro-allied businesses and massive empowerment programme for both youth and women across the state through the creation of thousands of jobs in the sector.

This huge, albeit laudable, project that is spread across 3,000 hectares of land in 28 of the 33 Local Government Areas of Oyo State is in three stages: food crop cultivation, cash crop/horticulture, and food processing.

 

Heritage Bank is supporting agro investors involved in this initiative with funds and advisory services and indications are that the programme has already led to more than 30 per cent increase in food production in the state.

The Bank also supported thousands of small holder farms in Kaduna and Zamfara states to benefit from the bank’s financial support for rice and soya beans production under the Central Bank of Nigeria’s Anchor Borrowers Programme (ABP).

 

Further on job creation, Heritage Bank through its establishment of a full-fledged learning and development institute accredited by the Chartered Institute of Bankers of Nigeria (CIBN), dubbed “The Refinery” successfully trained and employed about 300 new intakes.

 

In the midst of the bank’s audacity to dare and succeed, industry watchers have continued to ask; how are they doing it? The answers may not be far from the fact that this is one bank whose leadership team continues to exude the charisma of the Midas touch. With Heritage Bank, the MD/CEO, Ifie Sekibo has proven over and over again that whatever he touches, turns into gold.

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Herbal Life Hikers Take On De Wildt Trails in Empower-Active Adventure!

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Herbal Life Hikers Take On De Wildt Trails in Empower-Active Adventure!

 

De Wildt, July 19, 2025 – The crisp morning air of De Wildt did little to deter a vibrant group of adventure-seekers who came out in full force for the “#Empower-Active! Let’s Have Some Fun! Let’s Go Hiking” event. Dressed in lime green and black, the enthusiastic hikers turned the trails into a vibrant wave of energy, unity, and wellness.

Organized by wellness coach Busi Jele—popularly known as Aunty BJ—and anchored by Neo Kgosana, the event was hosted under the banner of community wellness and empowerment. Kicking off at 7 a.m., participants set off with smiles, camaraderie, and a shared goal of physical rejuvenation and social connection.

“This is more than a hike,” said Aunty BJ. “It’s a movement to get people active, connected, and recharged—away from the stress of everyday life. We’re thrilled at the turnout and the energy everyone brought today.”

The event drew a diverse mix of nature lovers, fitness enthusiasts, and first-time hikers, all eager to embrace the outdoors. For a registration fee of R250, participants received a hike pack, entry access, and a refreshing post-hike snack—carefully curated to support health and vitality.

As hikers made their way through the picturesque De Wildt trails, laughter echoed through the hills, new friendships were forged, and many paused to soak in the breathtaking views and stillness of nature. The event’s theme colours, lime green and black, symbolized vitality and strength—perfectly capturing the spirit of the day.

With the success of this edition, there are growing calls for the hike to become a regular wellness fixture. For many attendees, today’s hike was not just a physical activity but a therapeutic experience—filled with joy, connection, and empowerment.

Herbal Life Hikers Take On De Wildt Trails in Empower-Active Adventure!

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FIRSTBANK MARKS SIGNIFICANT MILESTONE: ₦1 TRILLION IN INSTANT DIGITAL LOAN DISBURSEMENTS

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FIRSTBANK MARKS SIGNIFICANT MILESTONE: ₦1 TRILLION IN INSTANT DIGITAL LOAN DISBURSEMENTS

 

Lagos, 18 July 2025 – FirstBank, a leading financial institution and provider of financial inclusion services in West Africa, announces the achievement of ₦1 trillion in cumulative instant digital loan disbursements. This accomplishment further consolidates the Bank’s reputation for innovation, leadership in financial inclusion, and commitment to customer empowerment within.

Since its inaugural digital loan in August 2019, FirstBank has developed an unconventional and robust digital lending ecosystem designed with Artificial Intelligence and Machine Learning, to improve access to finance, especially to the high-risk customer segment. The Bank created a multi- channel loan disbursement service that requires no collaterals, zero documentation and is void of human interactions. Through its FirstAdvance, FirstCredit and AgentCredit products, 1.5 million unique borrowers enjoyed instant and secure access to credit. This is irrespective of whether they are salary earners, non-salary earners, or micro business owners. They also have the convenient options of accessing these loans through platforms such as *894# (FirstBank’s USSD service), FirstMobile, LitApp and the FirstMonie Agent App.

Regarding this milestone, Chuma Ezirim, Group Executive, e-Business & Retail Products at FirstBank, stated: “This success underscores our ongoing commitment to innovation and a customer-focused approach, which are central to FirstBank’s core values. Beyond achieving substantial figures, we remain dedicated to fostering opportunities for financial independence across Nigeria in particular, and in Africa at large.’’

He added, “We value the trust our customers place in us to support their financial aspirations. Our efforts to advance digital lending will persist, especially to the excluded and underserved customer segments, while effectively managing risks in the process.”

FirstBank currently disburses about N1 Billion daily in digital loans, demonstrating its commitment to fostering an inclusive, technology-driven future for Nigerians. By consistently investing in advanced technologies and developing customised financial solutions, the Bank seeks to improve the financial well-being of individuals and businesses across the nation.

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Group slams NMDPRA Boss Farouk’s Diversionary Newspapers Ads On $5.5 Million In Children’s Tuition Fees

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Group slams NMDPRA Boss Farouk's Diversionary Newspapers Ads On $5.5 Million In Children's Tuition Fees

…charges relevant agencies to open immediate investigation.

 

The Concerned Citizens Network of Nigeria (CCNN) has slammed Engineer Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), for his full-page newspaper advertisements published on July 11, 2025, as a “disgraceful charade” and “diversionary” designed to dodge accountability.

The group said the ads, appearing on page 12 of Thisday, page 17 of The Guardian, page 15 of Vanguard, page 3 of BusinessDay, and page 19 of Daily Trust, were unsigned and devoid of substance, failing to address explosive allegations that Ahmed spent over $5.5 million (approximately N8.25 billion) on his children’s secondary education abroad.

In a fiery press conference on Monday in Abuja, the CCNN, led by Dr. Emmanuel Agibi, demanded an immediate investigation, accusing Ahmed of insulting Nigerians’ intelligence with his evasive tactics.

The CCNN highlighted that Ahmed’s children—Faisal Farouk attended the Montreux school, Farouk Jr attended the Aiglon college, Ashraf Farouk attended the Institut Le Rosey while Farhana Farouk attended the La Garenne International School for six years each.

With annual tuition and upkeep exceeding $200,000 per school, the total cost for the four children is estimated at $5 million, or roughly $1.2 million per child over six years.

“The cost per child included annual tuition fees of approximately $130,000–$150,000 and an additional $50,000 for upkeep, flights, and other expenses. For each child, this amounts to roughly $180,000–$200,000 annually, or $1,080,000–$1,200,000 over six years,” the statement said.

“For four children, the total expenditure ranges from $4,320,000–$4,800,000. Even now, questions remain unanswered about the tertiary education of Ahmed’s children. Having completed their secondary education, Faisal, Farouk Jr., Ashraf, and Farhana are enrolled in prestigious universities abroad, where annual costs often exceed $70,000–$100,000 per student.

“Further compounding public outrage, Engr. Farouk Ahmed’s son recently graduated from Harvard University, where tuition and associated costs exceeded $152,000, with additional expenses in the range of $100,000. This extravagant expenditure, far beyond the gross earnings of a civil servant of his calibre, places an immense burden on Nigeria’s poor taxpayers, many of whom struggle to afford three meals a day or school uniforms for their children, particularly in the northern regions.

“Notably, Ahmed has never held employment outside his role with the Federal Government since leaving school, raising further questions about the source of his wealth. The opulence displayed in funding such elite education underscores a stark disconnect between Ahmed’s lifestyle and the economic realities faced by ordinary Nigerians.”

The group urged the Code of Conduct Bureau (CCB), Independent Corrupt Practices Commission (ICPC), and Economic and Financial Crimes Commission (EFCC) to investigate how a civil servant’s salary could fund such lavish expenditure.

“In a nation where over 10 million children, particularly in the north, lack access to basic education, this lavish spending by a public servant is not merely a matter of personal choice—it is a moral outrage,” the statement added.

“While countless Nigerian families struggle to afford primary schooling, Ahmed’s children attended secondary institutions costing more per term than the annual budgets of some federal colleges. This stark inequality represents an injustice that cannot be ignored.

“The absence of transparency regarding how these ongoing expenses are funded further fuels public suspicion. If Ahmed’s wealth can support such elite secondary and tertiary education, the public deserves to know the legitimate sources of these funds, especially given his role as a public servant accountable to Nigerian taxpayers.

“The CCNN’s allegations are grounded in rigorous evidence, stemming from a petition to the Attorney-General of the Federation after weeks of verification, fact-finding, and public record reviews.We question how a public official, whose salary is known and whose assets must be constitutionally declared, could finance such an extraordinary level of overseas education without a visible commercial empire or disclosed inheritance.

“The petition raises serious concerns about potential abuse of office, asset concealment, or diversion of public funds under Ahmed’s leadership at NMDPRA. Public response has been resolute, with peaceful protests by lawyers, students, and civic groups targeting the Attorney-General’s office, ICPC, EFCC, National Assembly, and NMDPRA headquarters. These demonstrations, supported by formal letters and placards, demanded a transparent investigation.

“The NMDPRA’s attempt to dismiss these voices as ‘faceless’ is a cynical effort to undermine lawful civic engagement, further eroding public trust. The NMDPRA’s statement conspicuously avoided addressing key issues: it did not deny the children’s attendance at the listed secondary schools, nor did it provide any breakdown of how tuition was funded.

“It offered no details on asset declarations, loans, business income, family inheritance, or blind trusts, relying instead on vague appeals to Ahmed’s ‘reputation’ and ‘integrity.’ In a democracy, such claims are insufficient when a public servant’s lifestyle appears misaligned with their declared income. The burden of proof rests with Ahmed, not the public.

“The CCB, ICPC, and EFCC have constitutional mandates to investigate cases of unexplained wealth, ensuring that public officials are held accountable. This case tests the credibility of President Bola Tinubu’s anti-corruption and transparency agenda. The CCNN is not calling for Ahmed’s immediate removal but for an open, independent investigation. If he is innocent, a transparent process will vindicate him.

“However, continued silence risks tarnishing both his reputation and the government’s reform efforts. Ignoring these allegations would be a grave miscalculation. The CCNN is submitting additional letters, pursuing legal action, and mobilising further protests to ensure accountability. Civic vigilance is not a nuisance—it is the cornerstone of a functioning democracy.

Group slams NMDPRA Boss Farouk's Diversionary Newspapers Ads On $5.5 Million In Children's Tuition Fees

“Engr. Farouk Ahmed must step forward, disclose his funding sources, and submit to a full inquiry. This is not persecution—it is the price of public trust. The CCB, ICPC, and EFCC must act swiftly to investigate these allegations, ensuring that justice and transparency prevail.”

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