Bitter kola export business in Nigeria, Invest N80, 000 & make100percent profits

Do you know you can make 100percent profits when you invest just N80, 000 in exporting Bitter kola from Nigeria to Europe, America and Asia countries? More »

How to export Ginger from Nigeria and make huge profit

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. Learn how to export Ginger and make huge profit. More »

How To Start Pure water business In Nigeria

Requirement for starting and managing a successful sachet/bottled water production business in Nigeria More »

How to start a small scale Livestock feeds production business in Nigeria

You can start a small scale livestock feed production in Nigeria without regrets because it is very certain you will make enough cash doing the business. But before you start livestock feed production business, you will need More »

How to Start a Profitable Cement Block Molding Industry in Nigeria.

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 »

How To Start Small Scale Poultry Farm in Nigeria (Feasibility studies)

The high demand for chicken meat and eggs has really proven that Poultry farming in Nigeria is indeed a very lucrative business. More »

Instant Pounded Yam Production-Business Startup Requirement

You can make up to N500, 000/month producing and selling Instant pounded Yam powder, 1kg pack of the product is sold between N250 to N350 in the Nigerian market and $17 abroad 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. “As 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,” she said.
According to her, the letter conveying CBN’s approval for grant of Banking Licence to HBC titled, ’Re: Application for a Commercial Banking Licence with Regional Authorisation’ 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 regulator’s willingness to work with it and facilitate its return to business.
“We will encourage the bank to return to business even if it entails granting it a credit line provided it meets specified terms,” 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

Leave a Reply