Discover how to make 100percent profits when you invest just N80, 000 in exporting Bitter kola from Nigeria to Europe, America and Asia countries More »
The export of cashew nuts and other agricultural commodities from Nigeria is fast becoming very lucrative these days; More »
Are you thinking of starting a profitable business of your own in Nigeria? If yes then I will want you to consider setting up a cement block molding industry in the country More »
The demand for Ginger in the international market has gone up significantly because the root is now being used as raw material in manufacturing process. More »
Indeed you can become a millionaire through Poundo Yam production business in Nigeria. You can make up to N500, 000/month producing and selling Instant pounded Yam powder More »
The high demand for chicken meat and eggs has really proven that Poultry farming in Nigeria is indeed a very lucrative business More »
Livestock feeds production is a very profitable business, the demand for animal feeds in ... You can start a small scale livestock feed production in Nigeria More »
The high demand for groundnut oil nationwide and the short fall in supply due to the ban on the importation of the product by the federal government of Nigeria has thus make Groundnut oil production business very lucrative. More »
Heritage Bank of Nigeria Starts Account Validation January 29
Business News (Finance) –Heritage Banking Company (Heritage Bank) will on January 29, 2013 begin account validation for customers of Societe Generale Bank of Nigeria (SGBN). The exercise is in line with the terms of the Central Bank of Nigeria (CBN) approval of its banking licence to offer commercial banking services under a Regional Bank status.
In a statement signed by the Group Head, Corporate Affairs, Heritage Banking Company Ltd, Josephine Aligwekwe, the lender said as a preliminary step, the validation exercise for account holders of SGBN will last for four weeks.
Aligwekwe said that with the CBN approval secured, the bank is set to commence operations immediately in conformity with the terms of the licence. â€œAs a first step, the statement said, Heritage Bank would commence from Tuesday, January 29, a four-week exercise aimed at validating the accounts held by customers of the old SGBN,â€ she said.
According to her, the letter conveying CBNâ€™s approval for grant of Banking Licence to HBC titled, â€™Re: Application for a Commercial Banking Licence with Regional Authorisationâ€™ was dated December 27th, 2012 with reference number FPR/LAD/CON/HBC/02/062, and signed by the CBN Director of Financial Policy and Regulations, Chris O. Chukwu.
She advised all customers of SGBN to look out for announcements in the national dailies detailing the processes and procedures for the account validation exercise.
CBN spokesman, Ugochukwu Okoroafor, had earlier told The Nation that the bank has shown greater capacity to comeback and expressed the regulatorâ€™s willingness to work with it and facilitate its return to business.
â€œWe will encourage the bank to return to business even if it entails granting it a credit line provided it meets specified terms,â€ he said. He said corporate governance in the banking system is improving, adding that the lenders will naturally fit into the system.
The operational licence of SGBN was withdrawn by the CBN in 2005 over poor liquidity challenges but was later returned in 2008.-TheNation