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 Modupe Gbadeyanka
To strengthen Europe-Africa trade ties, Access Bank has opened a new branch in Malta. It will focus on international trade finance, employing approximately 30 people in its initial phase, with plans for controlled expansion over time.
It was learned that this Maltese branch was established by Access Bank UK Limited, the subsidiary of Access Bank Plc, which is also the subsidiary of Access Holdings Plc, which is listed on the Nigerian Exchange (NGX) Limited.
Access Bank Malta Limited commenced operations after obtaining a banking licence from the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA).
Access Bank said the licence marks a transformative milestone in bolstering Europe-Africa trade flows.
Malta, a renowned international financial centre, and a gateway between the two continents, is strategically positioned to play a pivotal role in advancing commerce and fostering economic partnerships.
This strategic expansion into Malta enables The Access Bank UK Limited to leverage growing trade opportunities between Europe and Africa.
It underscores the organisation’s commitment to driving global trade, financial integration, and supporting businesses across these regions.
“By establishing operations in Malta, we will gain a foothold in a market that bridges European and North African economies, moving us one step closer to our goal of becoming Africa’s Gateway to the World.
“It further enhances our bank’s capacity to support clients with innovative solutions tailored to cross-border trade and investment opportunities,” the chief executive of Access Bank, Mr Roosevelt Ogbonna, stated.
“Europe has emerged as Africa’s leading trading partner, driven by initiatives such as the Economic Partnership Agreements between the EU and African regions and the African Continental Free Trade Area (AfCFTA).
“With Europe-Africa economic relations entering a new phase, The Access Bank Malta Limited is ideally positioned to deepen trade and meet the financing and banking needs of our clients in these expanding markets,” the chief executive of Access Bank UK, Mr Jamie Simmonds, commented.
Also speaking, the chief executive of Access Bank Malta, Renald Theuma, said, “Malta is uniquely positioned as a bridge between Europe and Africa, making it an ideal location for our subsidiary. This move allows The Access Bank Malta Limited to engage more closely with customers in Europe and deliver tailored financial solutions that drive growth and connectivity across both continents.”
By Adedapo Adesanya
The International Finance Corporation (IFC) and Goldman Sachs have announced a new partnership with African banks, including Nigeria’s Zenith Bank and Stanbic IBTC Nigeria to support the Goldman Sachs 10,000 Women initiative, a joint programme launched in 2008 to provide access to capital and training for women entrepreneurs globally.
The two Nigerian banks are part of nine financial institutions from across Africa which have agreed to join the 10,000 Women initiative committing to leverage the business education and skills tools the programme provides to create more opportunities for women entrepreneurs across the continent by providing access to business education.
Others banks include Stanbic Bank Kenya, Ecobank Kenya, Ecobank Cote d’Ivoire, Equity Bank Group, Banco Millenium Atlantico – Angola, Baobab Group, and Orange Bank.
Speaking on this, Ms Charlotte Keenan, Managing Director at Goldman Sachs said – “10,000 Women has had a powerful impact to date, but we know that there are more women to reach and more potential to be realized.
“We are delighted to partner with IFC to supercharge the growth of women-owned businesses across Africa, and mainstream lending to female business leaders. We remain committed to supporting entrepreneurs with the access to education and capital that they need to scale.”
Since 2008, the 10,000 Women initiative has provided access to capital and business training to more than 200,000 women in 150 countries.
“This expanded initiative marks a significant step forward in creating equitable economic opportunities for women in Africa, enabling them to build stronger, more resilient businesses and to realize their entrepreneurial goals,” said Ms Nathalie Kouassi Akon, IFC’s Global Director for Gender and Economic Inclusion.
Goldman Sachs’ 10,000 Women initiative complements the Women Entrepreneurs Opportunity Facility (WEOF), launched in 2014 by Goldman Sachs and IFC as the first-of-its-kind global facility dedicated to expanding access to capital for women entrepreneurs in emerging markets.
By Aduragbemi Omiyale
In recognition of its unwavering commitment to fostering access to financing for Nigerian micro, small and medium enterprises (MSMEs), Development Bank of Nigeria Plc has been rewarded with the Financial Inclusion Leadership Award at the Champions of Inclusion Nigeria Financial Inclusion Awards.
This was at the 2024 International Financial Inclusion Conference (IFIC) organised by the Central Bank of Nigeria (CBN) in collaboration with the World Bank and other stakeholders.
The chief executive of the lender, Mr Tony Okpanachi, said the recognition affirms the company’s efforts in expanding access to financial services for MSMEs in Nigeria.
“We are honoured to receive the Financial Inclusion Leadership Award, which is a testament to our bank’s commitment to expanding access to financial services for all Nigerians. This award recognises our efforts to bridge the financial inclusion gap, particularly for a priority sector like the MSMEs.
“Additionally, this award is a validation of our strategic focus on driving financial inclusion for small businesses, and we are proud to be at the forefront of this initiative that drives that. We will continue to innovate and expand our financial inclusion programmes, ensuring that more Nigerian small and startup businesses have access to services,” he stated.
On his part, the Chief Operating Officer of DBN, Mr Bonaventure Okhaimo, said the accolade demonstrates the firm’s dedication to driving financial inclusion and economic growth in Nigeria.
“This award acknowledges our Bank’s innovative approach to widening opportunities for MSMEs in Nigeria to grow and scale their businesses,” he said.
“This award will motivate us to continue pushing the boundaries of financial inclusion, exploring more innovative solutions and partnerships to expand our reach and impact.
“We are committed to ensuring that more small businesses and startup enterprises in Nigeria have access to financial services, this award will further inspire us to accelerate our efforts in this regard,” he stated.
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