HERITAGE BANK PROMISES 100 PERCENT RETURN ON TRAPPED DEPOSIT IN SGBN

Managing Director, Heritage Bank, Mr. Ifie Sekibo has announced that it will return 100 percent deposit to all those who can show proof of deposit in the defunct Societie Generale Bank (SGBN).

Sekibo who made the remarks during a courtesy call on the Lagos State Governor, Mr. Babatunde Fashola said the bank will in addition pay 10 year interest on the money, based on the 10 years that the bank has exited the scene.

The MD told the governor that the bank, which is an offshoot of SGBN, remains the only financial institution to have been able to bounce back after going under for ten years.

“We have an arrangement with Central Bank that all those who are able to prove that their money is tied in that bank will be paid 100 percent with interest for 10 years”, he said.

He said that his bank intend to adopt a school, under the Lagos State Government’s Adopt a School Programme, to be branded and upgraded in addition to partnering with the state government on security matters by donating to the Lagos State Security Trust Fund.

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Sekibo described his bank as an art-friendly bank in line with the name, heritage and that the bank has already signed an MoU with the Nigerian Tourism Development Company(NTDC) and the Lagos Business School to showcase Nigerian arts to the world. He added that the bank is back to assist those who think they can make it and those who have made it.

In his response, the Lagos State Governor, Fashola said he is happy to hear that depositors of trapped funds can recover 100 percent of deposit adding that growth is measured very modestly with sustainability and called on the bank to look at the mortgage sector as well as the small and medium scale business as areas of interest.
While thanking the bank for thinking about partnership with Lagos, he emphasised that the Lagos State put in place capacity to respond to emergency irrespective of who is to benefit.

“As for the school, who knows the school you adopt could produce the next CEO of your bank”, he said. The governor pointed out that support for preservation of historical sites is a welcome development but noted that the NTDC’s role is limited to traffic in tourism and that a Supreme Court judgement has made it very clear that only the states has a role to play in tourism and warned the NTDC not to dabble into roles that will be contemptuous.