Banking
Heritage Bank Partners Customers To Grow Their Businesses
By Modupe Gbadeyanka
Due to its desire to partner and create wealth for their individual customers, Heritage Bank took advantage of the customers’ service/appreciation week to organise a business fair that showcases and celebrates the business activities of their various customers.
The fair which took place at 12 Ligali Ayorinde Street, Victoria Island, Lagos, last Sunday and Monday, saw various entrepreneurial clientele of the bank displaying their products and services to potential customers.
The event was strategically kick started on Sunday, a work free day, to enable customers alongside their family and friends hang out at the fair.
Just as was obtainable in trade fairs, products were reasonably cheap as they were sold at much discounted prices and prospective shoppers also used the occasion to obtain the contact addresses of sellers.
In her welcome address, the Executive Director, South Bank, Mrs Adaeze Udensi, disclosed that Heritage Bank aims at collaborating with its customers to grow their businesses into generational conglomerate.
Mrs Udensi said, “Our desire is for Nigerian businesses to be listed on the stock exchange and eventually become global brands and household names.
“We believe that businesses like yours are the backbone of the economy because you create jobs and play a huge role in moving our country out of this present recession. I encourage you to rise up to this challenge facing every Nigerian entrepreneur and make our economy vibrant again.”
She stated that the Heritage Bank business fair is where new deals are brokered and partnerships initiated. ‘It is the place to connect’ she said.
According to her, a contact at the fair could lead to a business opportunity tomorrow and shoppers in turn will appreciate the vendors’ home grown businesses and in turn, the vendors would learn more innovative ways to meet their needs. ‘That is why we have created a platform like this, to propel a network of fast growing businesses’.
“Seize this opportunity, network with other vendors that are present, engage our SME consultants at the mini-bank and let us be your guide on the path to global recognition.”
Echoing Mrs Udensi’s speech was the Executive Director, Abuja & North Bank, Mr Ola Olabinjo who hinted that the business fair being organised by the bank is a sure foundation of taking Nigeria’s economy out of recession.
The Abuja North Bank ED remarked that because small businesses are the foundation of every economy, at Heritage Bank, they are more than every ready to ensure that they support them.
“It is not the size of the balance sheet of the bank that grows an economy, but the patriotism of the bank and the small businesses and we are determined to go the long walk with you.”
Full of life and ensuring orderliness at the fair was the Group Head, Customer Experience and Analytics, Kikanya Akpenyi who declared to Independent that she is happy and could only thank God that the D-day has finally come and that the vendors responses to the invitation was fantastic.
“This is the second edition, during the first one, of course, we were still testing the water so, a lot of the planning was a bit rushed. However, this time around, we had much time to plan and that is why we were able to get a bigger space in terms of a more vantage location that would be accessible to a lot of people.”
Akpenyi indicated that the success of the event was hinged on the feedback gotten from the previous edition, leading to more people wanting to be a part of it.
“So, it took a lot of works, getting the vendors, collecting their logos and promotional materials for them. And of course, on our part, trying to put the word out there and then getting all these to happen. About two months of preparation, checking prices, comparing locations and then, we are here today.
“I am excited and happy, I am thankful for the team I have, it couldn’t have happened with just me. Team work is actually the success factor here. So, everyone has put in his and her best. We also got very good support from our management.”
Despite being organized just for the Lagos entrepreneurs, there were also vendors from outside Lagos that graced the occasion and the bank welcomed them with open arm.
The event which was open to all retail segments of Heritage Bank’s clients, according to the organizers, is hoped to be taken beyond the Island, to other metropolitan cities across the country.
“It is all about giving back to our customers, finding ways to support them, as well as appreciating them for their patronage. We are open to feedback as we get the feedback and clamour to do more, we can always adjust.”
Even though plans were made for 50 booths and five extra, the entire 55 booths were booked and occupied by vendors of various products and services who had their sales reps distributing fliers to customers.
By Adedapo Adesanya
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, says Nigeria anticipates remittances from citizens living abroad to increase by two-thirds in 2026 as it seeks to bolster its foreign-exchange reserves to $1 billion monthly.
“We are expecting that by the end of the year, we will hit about a billion Dollars a month from diaspora remittances,” he said at the 14th Annual BusinessDay CEO Forum in Lagos on Thursday, themed From Stability to Shared Prosperity.
Mr Cardoso said remittances are expected to be boosted from more than $600 million currently, banking on the CBN’s deliberate target at remittances to diversify reserve sources beyond oil earnings.
According to him, the apex bank engaged Nigerians abroad, banks and international partners to identify barriers to official remittance flows.
He said the lender subsequently reviewed policies to ensure easier movement of funds into and out of the country.
Mr Cardoso described the approach as providing free entry and free exit for foreign exchange.
He said the reforms helped double diaspora inflows within one year and exceeded initial expectations, also projecting annual remittances could reach about $8 billion if the current momentum was sustained, adding that the development reflected growing confidence in Nigeria’s financial system and foreign exchange market.
Mr Cardoso said reforms introduced by the apex bank had restored stability in the foreign exchange market and improved investors’ confidence.
He identified exchange rate unification as one of the central bank’s major achievements under the reforms programme.
According to him, replacing multiple exchange rate windows with a market-driven system eliminated distortions and improved transparency.
Mr Cardoso said improved foreign exchange liquidity and stronger reserves were among the gains from the reforms.
He said Nigeria’s net external reserves had risen from about $3 billion at the start of the reforms to above $40 billion currently, noting that gross external reserves had grown to about $52 billion, representing about 10 months of import cover.
According to him, the reserves are designed to shield the economy from external shocks and excessive market volatility.
He said the reserves were not meant for routine interventions or day-to-day exchange rate management.
By Modupe Gbadeyanka
The flagship banking subsidiary of Guaranty Trust Holding Company (GTCO) Plc, Guaranty Trust Bank (GTBank) Limited, has been announced as the winner of Nigeria’s Best Digital Bank award at the Euromoney Awards for Excellence 2026.
The lender clinched this accolade at the Euromoney Awards for Excellence 2026 ceremony, held on July 17, 2026, at The Peninsula London, England, for its outstanding performance, innovation, customer service, and leadership.
GTBank’s recognition as Nigeria’s Best Digital Bank reflects its continued leadership in digital innovation and its commitment to delivering seamless, secure, and customer-centric financial solutions.
As the banking franchise of GTCO, GTBank has consistently set industry benchmarks in digital transformation, pioneering solutions that have redefined how individuals and businesses access, manage, and experience financial services.
Over the years, GTBank has transformed the banking experience through a suite of innovative digital platforms, including the GTWORLD mobile app and solutions that provide millions of customers with seamless, secure, and convenient access to financial services.
The bank continues to strengthen its digital capabilities by introducing products and services that meet evolving customer needs while maintaining the highest standards of security, reliability, and service excellence.
This latest recognition underscores the company’s position as a market leader and reflects its sustained investment in technology, operational excellence, and innovation.
“This recognition is a testament to the legacy upon which GTBank was built and the vision that continues to guide us today.
“From inception, our goal has been to deliver on the Group’s vision to make end-to-end financial services accessible to everyone by leveraging technology to remove barriers, simplify experiences, and create meaningful value for our customers,” the chief executive of GTBank, Mrs Miriam Olusanya, stated.
“While we are honoured by this recognition, we see it as an acknowledgement of what we have achieved and a motivation to do even more.
“We remain focused on raising the bar for digital banking, investing in innovative solutions, and delivering exceptional experiences that create lasting value for our customers.
“As the financial services landscape continues to evolve, we will continue to innovate, adapt, and lead with the same commitment to excellence that has defined our franchise for decades,” she added.
The Euromoney Awards for Excellence 2026 convened leading financial institutions, industry executives, and policymakers from across the globe to celebrate excellence, innovation, and leadership in the financial services sector.
By Aduragbemi Omiyale
A collaboration to enable fast money transfers into Nigeria has been entered into between Flutterwave and Xoom, PayPal’s international digital money transfer service.
The partnership allows Xoom transfers to be converted by Flutterwave and settled locally in Naira, enabling quick transfers directly into recipients’ bank accounts at Access Bank, UBA, Zenith Bank, First Bank, GTBank, and additional participating banks across Nigeria.
The deal also enables Xoom’s global network with Flutterwave’s local payout infrastructure, allowing users globally to send funds directly into Nigerian bank accounts with improved speed and efficiency.
Nigeria is the leading remittance recipient in Sub-Saharan Africa, receiving over $20 billion in personal remittances in 2024. Despite this volume, receiving international payments has historically remained complex due to FX constraints and settlement delays. This collaboration helps address those challenges in a market of more than 232 million people, where the ICT sector is projected to contribute 21 per cent of GDP by 2027.
By combining Xoom’s expansive reach with Flutterwave’s local compliance and banking partnerships, the two companies are providing a more accessible financial corridor for the continent.
Xoom, a PayPal service, is a fast and secure international digital money transfer service that enables consumers to send money, pay bills, and reload phones for friends and family in approximately 160 markets globally.
As part of PayPal’s global payments ecosystem, Xoom leverages advanced fraud protection, compliance capabilities, and a trusted global network to help millions of customers move money quickly and securely across borders.
“We’re excited to have been chosen by Xoom for their Nigeria expansion. Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy. This helps make it easy and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders,” the chief executive of Flutterwave, Mr Olugbenga GB Agboola, stated.
4 Comments