Banking
Heritage Bank Holds Investors Forum In Lagos
By Dipo Olowookere
The maiden edition of Investors Forum of Heritage Bank Plc has taken place in Lagos and the financial institution used the occasion to roll out its global aspiration to stakeholders present at the event.
For those very conversant with the banking sector, they will agree that Heritage Bank Plc has indeed lived up to its slogan of being the ‘Timeless Wealth Partner’ to its investors and customers.
During the forum, which was held at the Orchid Hall of the Eko Hotel and Suites, Lagos, the bank took stakeholders through a journey of all the transformation activities that have made since inception till date.
Inside venue of the occasion, words like “We have a story, how we started and where we are going”; “All that defines us!”; “Whatever our purpose, we all desire to succeed;” “We all desire to leave a legacy of success;” “Welcome to history in the making,” and “We are a service organization in the business of banking!” resonated with joy.
Heritage Bank Plc, formed under the operating licence of the defunct Societe Generale Bank of Nigeria (SGBN), is renowned for pioneering a number of banking initiatives in Nigeria.
Heritage Bank, which began full operation on March 4, 2013 as a regional bank with only about 11 branches, became a national financial services provider at the acquisition of Enterprise Bank Limited with over 160 branches.
According to the management team, today, the bank is said to have a physical network of over 160branches, referred to as experience centres; 418 automated teller machines (ATMs) and over 1,630 points of sales (POS) devices all over the country. It is the first bank in Nigeria to be ISO certified in less than two years of operation and holds the record of introducing ATM machines nationwide.
Heritage Bank is also said to be one of the first financial institutions in the country to commence the SME Clinic initiative; and convincingly, it said, in the coming years, it will establish itself as the bank of choice for its customers’ needs and prospects. According to the bank, “We intend to provide a platform for your investment to grow.”
Mr Adetola Atekoja, a director of the bank, who represented the chairman, Mr Akinsola Akinfemiwa, in his speech during the forum stated that the business combination with Enterprise Bank Limited in September 2015 was a commendable success. This is reflective of the commitment of our people, support of our customers and the degree of investors’ confidence in the bank, he remarked.
The director said that over the last three years, the bank has committed its efforts and resources to the building of an enduring and resilient banking franchise in spite of the challenges in the macroeconomic space. “In the midst of the stormy realities presented by events within the political and economic environment, we have continued to pursue our strategic aspiration of not only making the bank stable but stronger.”
He said, “Our ambition to emerge as a systemic important bank remains the underlying essence of our next growth phase strategy. The foundational element of our strategy – People, Partnership and Process will be recalibrated to match the rapidly changing needs of our customers especially as we deploy a full steam retail banking franchise.”
He added that the bank is on a growth track and are not unmindful of the headwinds facing the domestic economy, but remain very optimistic that the Heritage brand will continue to surf over the current economic tide through collective efforts to remain an enduring institution.
While reiterating the lender’s commitment to continually deliver high quality and sustainable earnings, Atekoja said the Board and Management are confident that the financial institution will continue to grow by appealing to key client segments, especially, in the retail space, as an important and growing market. “Heritage Bank’s outlook is bright and we expect to surpass our past year’s performance,” he said.
Divisional Head, Strategy and Execution, Mr Segun Akanji, who expanded on the benefits derived from the merger with Enterprise Bank, noted as follows: access to the market; acquisition of critical mass of customers; access to distribution and a very visible presence across the country, helping us to expand our list of customers.
“Once the combination was concluded, we had to come up with a kind of strategy that would support the business with a wider coverage that is why the foundational evidence of Heritage Bank really thrives on three pillars: People, Partnership and Processes.
“We believe that interaction with people; having the technology that will help support services to customers and ensuring that that partnership adds value to what we do, that is one of the key pillars and driving force of the bank called Heritage Bank.”
Mr Akanji explained to the forum that Heritage Bank is not limiting itself to the Nigerian shores alone, as their next level of maturity is bursting into the global financial scene, especially considering that the Nigerian economy is one that thrives on trade finance.
“We will create opportunities that will spur up our economy to other markets where we find opportunities that will help customers to secure wealth and build businesses that are also global.”
By Adedapo Adesanya
The Central Bank of Nigeria (CBN) is considering the recapitalisation and restructuring of Development Finance Institutions (DFIs) to address the significant financing gap facing micro, small, and medium-sized enterprises (MSMEs).
The Deputy Governor of the apex bank in charge of Economic Policy, Mr Muhammad Abdullahi, disclosed this during a panel session at the launch of the Nigeria Development Update by the World Bank in Abuja on Tuesday.
He explained that a recent review by the apex bank found that existing DFIs were too small to meet the credit needs of businesses.
DFIs are specialised, government-backed financial entities designed to promote economic growth by funding critical sectors like agriculture, infrastructure, and SMEs. Key institutions include the Bank of Industry (BOI), Development Bank of Nigeria (DBN), Nigeria Export Import Bank (NEXIM Bank), Bank of Agriculture (BOA), National Credit Guarantee Company Limited, and Nigerian Consumer Credit Corporation, among others.
“We conducted a review last year of the development finance space. Across all the DFIs in Nigeria, the total asset base is slightly above N8 trillion, whereas what is required in development finance for MSMEs is over N130 trillion,” he said.
He said that simply injecting capital would not solve the problem.
“The only way to address this is not only through public sector capital injections into these institutions, but also by making them bankable and investable,” he said.
Abdullahi said the CBN and the Ministry of Finance are reviewing DFI structures to improve their efficiency and risk appetite.
“We are reviewing the entire sector to ensure that we can correct the incentives, improve risk appetite, and also strengthen capital levels,” the deputy governor added.
He also said the reforms aim to introduce stronger market-based principles.
“We are looking at the structure to see how more market fundamentals can be incorporated, because the way it has been done in the past has not delivered the desired results,” Mr Abdullahi said.
On the persistent financing challenge for MSMEs, he said lending to the real sector has always been one of the structural challenges “Nigeria’s economy faces in terms of ensuring that credit reaches businesses that require it”.
Business Post reports that the CBN recently concluded the recapitalisation of the Nigerian banking sector, while the insurance sector is ongoing.
By Modupe Gbadeyanka
The women-focused initiative by Sterling Bank, OneWoman, is already yielding positive results, especially in promoting financial inclusion and empowering female-led enterprises in Nigeria.
Business Post reports that the programme was created to support women through three key pillars of capital, capacity, and community.
In 2025, according to the Head of the OneWoman Initiative, Ms Ezinne Nwokafor, the initiative gave out N43.9 billion loans to 2,450 female entrepreneurs, trained 6,000 of them, served about 380,000 women across three sectors of career women, women in business and freshers, and their vision 2030 is to give out N500 billion loans to one million women across their three sectors.
She noted that a significant majority of Nigerian women remain excluded from formal credit, with only a small percentage able to access structured financing. Despite improvements in financial inclusion, women continue to face systemic barriers that limit their ability to secure funding.
Ms Nwokafor pointed out that women account for a substantial share of micro, small, and medium enterprises and contribute meaningfully to the economy, yet face a financing gap estimated at $42 billion annually, according to the International Finance Corporation.
She also referenced data showing that more than half of women-led businesses identify access to finance as a major constraint, while rejection rates for loan applications remain significantly higher for women than for men.
According to her, these challenges are often linked to structural issues such as gaps in asset ownership, social norms, and limited access to financial data and visibility.
“Sterling’s OneWoman initiative is positioned to bridge this gap by combining financial solutions, mentorship, capacity building, and community support for women across different stages of their journey,” she said at the Funding Her Future Breakfast Dialogue in Lagos.
The session brought together voices from across sectors for a focused and necessary conversation on how to unlock more inclusive and effective financing pathways for women-led businesses in Nigeria.
On his part, the chief executive of Sterling Bank, Mr Abubakar Suleiman, said, “Women-led businesses need the right support systems, the right networks, and the right ecosystem to grow with confidence and scale with resilience.”
By Modupe Gbadeyanka
Alpha Morgan Bank has reaffirmed its commitment to supporting institutions that drive intellectual growth and national development.
The lender gave this reassurance at the commissioning of the Redeemer’s University Business School by Pastor (Mrs) Folu Adeboye, the wife of the General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye.
Speaking at the event, the Managing Director of Alpha Morgan Bank, Mr Ade Buraimo, said the company was proud to be associated with the school, noting its commitment to education and institutional development.
As part of its broader focus on knowledge sharing and thought leadership, Alpha Morgan Bank will host its Economic Review Webinar in May 2026, bringing together experts to share insights on key economic trends and opportunities.
The commissioning of the business school was witnessed by distinguished guests, including the Pro-Chancellor and Chairman of the Governing Council of Redeemers University, Professor Oluwatoyin Ogundipe; the Vice Chancellor, Professor Shadrach Olufemi Akindele; Mrs Bola Obasanjo; and other notable dignitaries.
-
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