Banking
Heritage Bank Takes Over Properties of HipTV Owner Ayo Animashaun
By Dipo Olowookere
Properties belonging to owner of HipTV and Smooth Productions, Mr Ayo Animashaun, have been allegedly taken over by Heritage Bank.
For a while, the showbiz entrepreneur and the financial institution has been at loggerheads over transactions between them.
However, things took a new twist when Heritage Bank obtained a court order to seize properties of the company, which organises the popular The Headies Award.
A document sighted by Business Post read, “Take notice that I, Mr Gani-Gidado Abubaker (Solicitor and Insolvency Practitioner) of 160A Sinari Daranijo Street, Victoria Island, Lagos has been appointed by Heritage Bank Limited as the Receiver/Manager of Smooth Promotions Limited over inter alia, its fixed and floating assets charged as security under the All Assets Debenture Deed dated December 11, 2014 and a Deed of Appointment of the Receiver/Manager dated February 11, 2019 was duly stamped by the Commissioner for Stamp duties filed at the Corporate Affairs Commission, Abuja which issued a letter dated February 26, 2019 that the Deed of Appointment has been filed with it.
“Notice is hereby given that all the properties comprising but not limited to plants and machineries belonging to Smooth Promotions Limited and falling within the ambit of the receivership have been taken over and are now in firm possession of the Receiver/Manager.
“All debtors of the company are to pay directly to the Receiver/Manager. Also, all creditors, if any, are to send their proof of claims to the Receiver/Manager within 14 days from date of this publication.
“All deposits, cash and other Assets and company currently held by banks financial institution, should be held until issuance of further instructions by the Receiver/Manager in accordance with the pre-emptive Orders of Court in Suit No. FHC/L/CS/362/19 pending within the bosom of the Federal High Court, Ikoyi Division.
“All holders of such deposits should contact the Receiver/Manager stating the balances and where secured facilities are granted, the type of security attached should be disclosed.”
On Thursday, Mr Animashaun disclosed that he has instructed his lawyers to file a suit in court against Heritage Bank.
He said, “So, I wanted you to hear it directly from me: I have just instructed my lawyers Kemi Pinheiro LP, to file a suit at the federal high court in Lagos, against Heritage Bank.
“I have spent over two years doing all I can to resolve this as quietly as possible, But I am now left with no choice but to use every available legal means to protect my reputation, secure my business, and get the redress and compensation I deserve.
“Heritage bank has consistently lied to us, defrauded us, and they’re now attempting to twist the facts to make us look like the bad guys. I have spent the past 25 years of my life building a name and business; and we have been nothing but responsible corporate citizens.
“I know many entrepreneurs complain about Nigerian banks and how they do nothing but try to kill us. But this particular bank picked the wrong candidate. I will not rest until I get justice and I just want to thank everyone who’s called me; and plead that you please understand that I may not be able to comment about the matter after this post, as the matter will now be in court.
“I will provide further update as soon as I am allowed to.”
It was gathered that Smooth Promotions is asking the court to reverse over N185 million in alleged interest rates over and above the agreed interest rate and other entries inputted into its account as at February 2017. These charges were revealed by an independent audit of the company’s accounts stretching back to 2013.
According to the court papers, the company says it lost in excess of N533,927,562 owing to the failure and refusal of Heritage Bank to insure its property against risk like fire, and or provide information to Smooth Promotions as to insurance on its property following a fire incident on November 6, 2017, despite debiting Smooth Promotions for the insurance premium.
The case, filed by Kemi Pinheiro LP, alleges that Heritage Bank fraudulently deducted insurance premium from Smooth Promotions’ account without remitting the money to the insurance company; charged interests that were not agreed; and a forensic audit found that almost N200 million worth of charges were not correct.
By Aduragbemi Omiyale
The creative industry in Nigeria may have nothing to worry about with the likes of Stanbic IBTC Bank around the corner.
The financial institution, which has not hidden its love for the sector, has promised to continue with its strategic investment in the country’s designers and artists.
Speaking at an event, An Evening of Fashion, Art & Lifestyle, the Executive Director for Personal and Private Banking at Stanbic IBTC Bank, Mr Olu Delano, represented by the Head of its Private Banking Segment, Ms Layo Ilori-Olaogun, said the company was proud to be associated with the programme, which it also sponsored.
“At Stanbic IBTC, we recognise Nigeria’s creative sector as a vital driver of economic diversification, employment, and global cultural influence.
“We are proud to support the individuals behind these platforms that elevate African excellence and provide visionary talents the visibility that they deserve.
“Nights like this reaffirm our commitment to continued strategic investment in our artists and designers,” he stated.
The invitation-only ceremony, which was held at The Garden, Federal Palace Hotel, Victoria Island, Lagos, hosted by Africa’s leading luxury fashion house, 2207bytbally, in collaboration with the acclaimed art collective Torrista, brought together high-net-worth individuals, art collectors, designers, media personalities, and luxury brand executives for an unparalleled showcase of creativity and sophistication.
The evening opened with a breathtaking runway presentation featuring three signature segments from the Evolve collection by 2207bytbally: Denim, Ethnic, and 2207 Prints. Each piece exemplified the meticulous craftsmanship, bold innovation, and cultural storytelling that has established the brand as a standard-bearer in African luxury fashion.
Complementing the couture was a curated exhibition by Torrista, transforming the venue into an immersive gallery. Commissioned artworks exploring themes of culture, femininity, and evolution created a robust visual dialogue with the collections, demonstrating the seamless harmony that can result when fashion and fine art converge.
“This evening was about more than clothes or canvases; it was about showing the world that African creativity is limitless. When fashion and art share the same space, magic happens, and tonight, Lagos felt that magic,” the Creative Director of 2207bytbally, Tolu Bally, stated.
By Modupe Gbadeyanka
The six edition of the Hackaholics of Wema Bank Plc has produced 20 top finalists shared equally between two streams, Ideathon and Hackathon.
The Hackathon finalists are Rapid DEV, Secure IT, Neurafeed, Trust Lock Babcock, Pulse Track, IlluminiTrust, Trust Lock FUTA, Fix Fraud AI, KASH Flow and VOC AI.
The Ideathon finalists include PLOY, Fertitude, VarsityScape, Mama ALERT, StockMed, Chao, All Arbitrate, FarmSlate, Sane AI and Cycle X.
They emerged after a two-day pre-pitch held on December 16 and 17, 2025, for the grand finale slated for Friday, December 19, 2025.
They grand finale of Hackaholics 6.0 will convene the top players in Africa’s tech and innovation ecosystem, creating an avenue for these finalists to not only put their creativity to the ultimate test but also give their solutions visibility to potential investors for additional funding opportunities beyond the prizes to be won.
The prizes to be won for the Ideathon include N25 million for the winner, N20 million for the first runner-up, N15 million for the second runner-up and N5 million each for two women-led teams.
In the Hackathon category, the first to fourth-place winners will receive N20 million, N15 million, N10 million and N5 million, respectively.
The pre-pitch saw the top 43 contenders battle in a game of innovation and problem solving, presenting compelling pitches for a chance to make it to top 10 in their respective streams.
After a rigorous stretch of pitches and presentations, the top 20 emerged, securing their spot in the grand finale of Hackaholics 6.0.
“Hackaholics started off as a hackathon and morphed into an ideation. For Hackaholics 6.0, the sixth edition, we decided to give both the builders of new solutions and the refiners of existing ones, an opportunity to make meaningful impact.
“For us at Wema Bank, we understand that innovation isn’t just building from scratch. Sometimes, it’s looking at what exists and developing new ways to optimise that and create more efficiency. This is the idea behind our two-stream Ideathon-Hackathon structure.
“Every year, Hackaholics shows us just how eager and motivated Nigerian youth are when it comes to exploring creativity and innovation, and we are honoured to be the institution that provides them with the platform and resources to put this drive to good use.
“We toured seven cities, indulged 1,460 participants and discovered hundreds of remarkable ideas; some of which needed some refining and some of which deserved to move to the next stage.
“For those who needed to go back to the drawing board, we provided useful guidance and for the top contenders, we were able to shortlist to the top 43, who proceeded to the pre-pitch. To every participant, Wema Bank is proud of you. This is just the beginning,” the chief executive of Wema Bank, Mr Moruf Oseni, said.
By Adedapo Adesanya
The Nigeria Customs Service (NCS) says it will enforce penalties against designated banks that delay the remittance of customs revenue, in a move aimed at strengthening transparency and safeguarding government earnings.
This was disclosed in a statement on the NCS official account on X, formerly known as Twitter and signed by its spokesman, Mr Abdullahi Maiwada, who said the delays undermine the efficiency, transparency, and integrity of government revenue administration.
“The Nigeria Customs Service has noted instances of delayed remittance of customs revenue by some designated banks following reconciliation of collections processed through the B’odogwu platform,” the statement read.
“Such delays constitute a breach of remittance obligations and negatively impact the efficiency, transparency, and integrity of government revenue administration.
“In line with the provisions of the Service Level Agreement executed between the Nigeria Customs Service and designated banks, the Service hereby notifies stakeholders of the commencement of enforcement actions against banks found to be in default of agreed remittance timelines.”
Mr Maiwada disclosed that any bank that fails to remit collected Customs revenue within the prescribed timeline will be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the period of the delay.
He added that affected banks would be formally notified of the delayed amounts, the applicable penalty, and the deadline for settlement.
“Accordingly, any designated bank that fails to remit collected Customs revenue within the prescribed period shall be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the duration of the delay.
“Affected banks will receive formal notifications indicating the delayed amount, applicable penalty, and the timeline for settlement,” the statement read.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 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 agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn