Business
Mass Sack Looms At Heritage Bank As Bank Plunges Into Another Distress
It’s indeed a difficult situation presently at Heritage Bank if information at our disposal is anything to go by as the bank is facing difficulties arising from insider abuse and self-dealing.
It should be recalled that the Bank
was listed as one of the financial institutions undergoing distress in 2016. This same situation is recurring and the bank has taken an unprecedented step against some of its senior staffs and directors, to go and recover loans they signed off on. Some powerful management staff we also gathered are abusing their positions, which has affected the bank so much.
A source from the bank revealed that some senior marketing and business development staffs and powerful bank management were abusing their positions and allegedly engaging in racket. But our very dependable source hinted us that in a matter of days, A Tsunami of mass sack might rock the bank, and nobody will be left out from the management staffs to the very lowest staff of the financial institution.
The bank management initially refused to touch the powerful executive directors, preferring to go after staff members suspected of revealing the bank’s problems, but right now mercy is no longer an option for anyone they suspect after the ongoing human auditing.
It would be recalled that sometimes in March 2017, an Abuja company petitioned the Federal High Court and the Central Bank of Nigeria to liquidate the bank on account of its inability to meet customers’ demands.
Geonel Integrated Services Limited, a security services company, cited its own experience, claiming it has over N1.8billion and another $85,859 trapped in various Heritage Bank accounts, and all promises made was never fruitful in transacting business. The matter was later swept under the ground till now.
An inside source who also spoke to us under the disguise of Anonymity told us that Auditing is going on at the moment in the bank, and many staffs are very terrified and don’t even know their fate after the auditors have concluded with their report.
Our findings however revealed that the bank is in distress right now, and some people might be sacked and relieved of their duties if they want anything good to happen to the bank, and for them to regain their customer’s confidence in doing business, the source hinted us.
–Additional reports from Society Reporters.
Business
Renewed Hope Ambassadors Inspect RHA Secretariat
Renewed Hope Ambassadors Inspect RHA Secretariat
Renewed Hope Ambassadors, led by its Director-General and the Governor of Imo State, Hope Uzodinma, alongside Zonal Coordinators (NW, NC, SE), the Media & Publicity Directorate, and other key stakeholders, inspected the RHA Secretariat two days after President Bola Tinubu unveiled the Renewed Hope Ambassadors grassroots engagement drive in Abuja.
Business
Harmony Gardens’ Ibeju-Lekki Portfolio Crosses $1bn
Harmony Gardens’ Ibeju-Lekki Portfolio Crosses $1bn
Harmony Garden & Estate Development Limited has expanded its development activities across Ibeju-Lekki, pushing the projected long-term value of its estate portfolio beyond $1 billion.
Led by Chief Executive Officer Hon. Dr. Audullahi Saheed Mosadoluwa, popularly know Saheed Ibile, the company is developing seven estates within the Lekki–Ibeju corridor. Details available on Harmony Garden & Estate Development show a portfolio spanning land assets and ongoing residential construction across key growth locations.
A major component is Lekki Aviation Town, where urban living meets neighborhood charm, located near the proposed Lekki International Airport and valued internally at over $250 million. The development forms part of the company’s broader phased expansion strategy within the axis.
Other estates in the corridor tagged as the “Citadel of Joy” (Ogba-idunnu) include Granville Estate, Majestic Bay Estate, The Parliament Phase I & II, and Harmony Casa Phase I & II.
With multiple projects active, the rollout of the Ibile Traditional Mortgage System, and structured expansion underway, Harmony Garden & Estate Development Ltd continues to deepen its presence within the fast-growing Ibeju-Lekki real estate market.
Business
BUA Group Showcases Food Manufacturing Strength at 62nd Paris International Agricultural Show
BUA Group Showcases Food Manufacturing Strength at 62nd Paris International Agricultural Show
BUA Group, one of Africa’s leading diversified conglomerates, is maintaining a strong presence at the ongoing 62nd edition of the Paris International Agricultural Show in France, participating as a premium sponsor and supporting the Nigeria Pavilion at one of the world’s most respected agricultural gatherings.
The 62nd Paris International Agricultural Show, taking place from February 21 to March 1, 2026, at Porte de Versailles in Paris, convenes global leaders across farming, agro processing, technology, finance, and policy. The event serves as a strategic platform for industry engagement, knowledge exchange, and commercial partnerships shaping the future of global food systems.
BUA Group’s participation reflects its long term commitment to strengthening the entire food production value chain. Through sustained investments in large scale processing, value addition, and branded consumer products, the Group continues to reinforce its role in advancing food security, industrial growth, and regional trade integration.
Speaking on the Group’s participation, the Executive Chairman of BUA Group, Abdul Samad Rabiu CFR, said, “BUA’s presence at the Paris International Agricultural Show reflects our belief that Africa must be an active participant in shaping the future of global food systems. We have invested significantly in local production capacity because we understand that food security, industrial growth, and economic resilience are interconnected. Platforms like this allow us to build partnerships that strengthen Nigeria’s competitiveness and expand our reach beyond our borders.”
BUA Foods, a subsidiary of BUA Group, maintains a strong footprint in flour, pasta, spaghetti, sugar, and rice production, serving millions of consumers within Nigeria and across neighbouring African markets. The Managing Director of BUA Foods, Engr. Abioye Ayodele, representing the Executive Chairman, is attending the event at the Nigeria Pavilion, engaging industry stakeholders and showcasing the company’s manufacturing capabilities.
Also speaking at the show, Engr. Ayodele stated, “BUA Foods has built scale across key staple categories that are central to household consumption. Our participation at this Show allows us to demonstrate the quality, consistency, and operational strength behind our products. We are also engaging global stakeholders with a clear message that Nigerian manufacturing can meet international standards while serving both domestic and regional markets efficiently.”
The Show provides BUA Group with an opportunity to deepen trade relationships, explore new export pathways, and reinforce Nigeria’s growing relevance within the global agricultural and food ecosystem.
BUA Group remains focused on building enduring institutions, expanding productive capacity, and positioning African enterprise competitively within global markets.
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