Banking
Heritage Bank Celebrates Health Workers Fighting COVID-19
Nigerian lender, Heritage Bank, has joined the World Health Organisation (WHO) to celebrate pay tribute to health workers globally for their selfless sacrifice and bravery in the fight against the novel Coronavirus pandemic causing countless mortality rates.
The global organisation is marking the World Health Workers Week from April 6 to 11, 2020 for the eighth year with the theme Leaders on the Line.
WHO said the theme for this year highlights the need to provide greater leadership opportunities for frontline health workers—particularly women health workers, who make up more than 70 percent of the global health workforce.
“At the same time, this theme emphasizes how health workers often put themselves on the line, often at great personal risk to themselves and their families, to save and improve lives,” it explained.
MD/CEO of Heritage Bank Plc, Mr Ifie Sekibo, while speaking on this year celebration, commended the health practitioners worldwide, stating that the COVID-19 pandemic has shown the world the heroic efforts health workers on the front lines make every day to keep their respective communities and the world safe and healthy.
“Despite the havoc caused by the of coronavirus pandemic on individuals and the medical personnel who are not spared by the disease, they continue to play significant roles to contain the spread of the disease, carter for the affected patients and embark on research to attain robust understand of COVID-19.
“They also take steps further to proffer recommendation on how to remain safe, hale and hearty, whilst we all embrace the warmth and safety of our home.
“This is a calling for every individual within and outside to honour and support the brave healthcare workers doing life-saving work on the front lines,” he stated.
He, however, assured that as a bank “We are proud to join forces with health workers and agencies to help suppress the transmission of the virus, minimize social-economic impacts on the global community and work together to boost the nation economic growth,”
Also, as part of effort to support and attain a more robust health system in the country, Mr Sekibo has further called and encouraged government at all levels, key stakeholders, including the private sector to strengthen financial and technical support for health workers, as part of efforts to create a safer environment for them.
According him, it calls for our collective joint action to combat COVID-19 since we are in this together and we will get through this together.
Meanwhile, Heritage Bank has assured customers of uninterrupted access to the various services, which they have been enjoying before now.
This has been made possible with the activation of the bank’s business continuity management emanating from Heritage Bank’s corporate strategy to guarantee seamless service delivery to the various stakeholders.
The bank also adopted a crisis response measures in place to minimise and manage the risk arising from COVID-19 and ensure that the payment infrastructure and logistics to maintain operations going as various State governments continue to observe lockdown to contain the pandemic.
To ensure seamless banking transactions, the bank explained that customers are constantly communicated to, to adopt its available 24/7 alternate electronic channels.
“We have encouraged our customers to adopt the self-service platforms by using the *745#. We are available via email [email protected] and social media (insert social media icons) to render the following services: Debit Card Hotlist, Post No Debit Request (PND Placement), HB Padie unlock/ username request/ Password reset, Statement of Account (individual accounts) and general inquiries on products and services.
“We have setup a COVID-19 Support Centre to offer COVID-19 safety tips to all our customers during this period, in support of the efforts of the Government and relevant bodies. Please send any information relating to the COVID-19 pandemic via these channels: E-mail: [email protected] and contact number: 01-2369099,” the bank explained.
By Adedapo Adesanya
The Central Bank of Nigeria (CBN) has approved weekly foreign exchange (FX) purchases for Bureaux de Change (BDC) operators, with a cap of $150,000, as part of efforts to improve foreign exchange liquidity in the retail segment of the market and meet the legitimate needs of end users.
This comes as the apex bank once again approved the participation of licensed BDCs in the Nigerian Foreign Exchange Market (NFEM), noting that utilisation complies with existing BDC operational guidelines.
Under the new directive contained in a circular signed by the Director of the Trade and Exchange Department, Mr Musa Nakorji, all BDCs duly licensed by the CBN are permitted to access foreign exchange through any Authorised Dealer Bank of their choice, at the prevailing market rates.
The move, according to the circular, aims to deepen market efficiency and ensure broader access to foreign exchange across the economy.
The central bank, however, imposed strict compliance and risk-management conditions on the transactions. Authorised dealers are required to conduct full Know-Your-Customer (KYC) and due diligence checks on BDC clients before any FX sale.
To strengthen transparency and accountability, the CBN directed that all licensed BDCs must submit timely and accurate electronic returns in line with extant regulations. Any unutilised foreign exchange must be sold back to the market within 24 hours, as BDCs are prohibited from holding FX positions purchased from the NFEM.
The circular further restricts settlement practices, mandating that all FX transactions be conducted through settlement accounts with licensed financial institutions. Third-party transactions are prohibited, while cash settlement is limited to a maximum of 25 per cent of each transaction amount.
Overall, the directive reflects the CBN’s broader strategy to balance market access with strong regulatory oversight, ensuring liquidity in the foreign exchange market while safeguarding financial system integrity.
Recall that earlier this week, the Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, explained that the central bank now allows the foreign exchange market to largely determine prices, while the bank steps in to buy foreign exchange when necessary.
The CBN boss said recent reforms have also made foreign exchange more accessible to ordinary Nigerians, especially those travelling abroad, while warning that Nigerians who are holding foreign currency without real need that such actions could lead to losses.
By Aduragbemi Omiyale
The proposed acquisition of South African financial institution, Bidvest Bank by a Nigerian lender, Access Bank Plc, has hit a brick wall.
Access Holdings Plc, the parent company of the Nigerian bank, had announced on December 12, 2024, its intention to completely takeover Bidvest Bank.
Talks regarding the 100 per cent stake acquisition began between the two banks and January 26, 2026, was fixed as the long-stop date by which all conditions required for the completion of the deal.
However, the day has come and gone with the conclusion of the transaction still hanging, according to Access Bank in a statement on Tuesday, February 10, 2026.
The company disclosed that certain conditions, including regulatory requirements, were not fully met as of the expiration of the long-stop date.
While Access Bank thanked the board and management of Bidvest for their patience and support throughout this process, it noted that the brick wall experienced in the transaction “reflects the complexities and extended timelines associated with multi-jurisdictional regulatory and transactional processes.”
However, the chief executive of Access Bank, Mr Roosevelt Ogbonna, said the organisation remains “constructively engaged with stakeholders on this transaction towards finding a potential path to closure.”
“This initial outcome does not diminish our confidence in South Africa’s financial ecosystem,” he declared, pointing out that the lender remains “focused on building Africa’s most respected financial institution, strengthening our trade finance capabilities and delivering long-term value to customers, partners and communities across all our markets.”
By Adedapo Adesanya
The Bank of Industry (BoI) has secured regulatory approval from the Central Bank of Nigeria (CBN) to offer Non-Interest Banking (NIB) services, marking a major expansion of its financing framework.
The approval was disclosed in a statement by the BoI Managing Director, Mr Olasupo Olusi, on Sunday, February 8, 2026.
The move is expected to strengthen the bank’s role in promoting sustainable industrial development and improving access to finance for underserved and high-impact business segments across Nigeria.
With the approval, BoI is authorised to commence non-interest banking operations, providing ethical, asset-backed financing options that prohibit interest and promote risk-sharing.
The initiative aligns with growing demand for alternative financing structures that support inclusive growth and social development objectives.
Mr Olusi described the approval as a significant milestone in the bank’s growth and long-term development agenda, adding that it positions BoI to deepen its contribution to Nigeria’s industrialisation drive through tailored financial solutions.
“This development marks a significant milestone in the Bank of Industry’s growth and long-term development agenda,” Olusi said.
“It positions the bank to further advance Nigeria’s sustainable and inclusive industrial development through tailored financial solutions for underserved and high-impact business segments.”
“Under this framework, BoI will be able to finance assets and raw materials for customers using approved non-interest banking products,” he added.
Mr Olusi noted that the approval underscores the CBN’s confidence in BoI’s governance and commitment to responsible financing.
He said the licence would allow the bank to scale its operations, introduce innovative financing solutions, deepen support for Micro, Small and Medium Enterprises (MSMEs), and reach a new category of borrowers who were previously unable to access BoI’s funding.
Reconstructed in 2001 from the former Nigerian Industrial Development Bank (NIDB) Limited, BoI was originally incorporated in 1959 to transform the country’s industrial sector by providing long-term, low-interest financing and advisory support to various enterprises.
The introduction of a non-interest banking window is expected to broaden BoI’s financing toolkit and attract new pools of ethical and faith-based capital.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn