Author(s):
Societe
Generale Bank Plc (SGBN) will today (Tuesday) throw its doors open
as it attempts to start a new life as Heritage Banking Company Limited.
The bank said it will begin with a four-week validation exercise of its customers nationwide.
The reopening of the old SGBN as Heritage Bank, according to a report last year, followed the injection of fresh capital by the former owners- the Olusola Saraki family with about 10 per cent, and International Energy Insurance (IEI) Plc, which has Ifie Sekibo, as executive vice chairman as a major shareholder.
Mrs. Josephine Aligwekwe, spokesperson of the bank had a fortnight ago, quoted the CBN letter conveying approval titled, “Re: Application for a Commercial Banking Licence with Regional Authorisation,” dated December 27, 2012. The letter with reference number FPR/LAD/CON/HBC/02/062, was signed by the CBN Director of Financial Policy and Regulations, Chris O. Chukwu.
Aligwekwe, who is group head, Corporate Affairs of the bank, announced that with the CBN approval secured, it is set to commence operations immediately in conformity with the terms of the Licence.
“All customers of the former Societe Generale Bank (Nig.) Limited are advised to look out for announcements in the national dailies detailing the processes and procedures for the account validation exercise”, the statement said.
The return of SGBN’s licence, followed a favourable June 2008 ruling by Justice Binta Murtala that the CBN’s revocation order was “in bad faith, unconstitutional, null and void.”
SGBN had denied allegations that it made no effort to recapitalize, as merger talks with Unity Bank was at advanced stage at the time its licence was revoked, blaming the CBN for frustrating its effort to conclude the arrangement before the deadline expired
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The bank said it will begin with a four-week validation exercise of its customers nationwide.
The reopening of the old SGBN as Heritage Bank, according to a report last year, followed the injection of fresh capital by the former owners- the Olusola Saraki family with about 10 per cent, and International Energy Insurance (IEI) Plc, which has Ifie Sekibo, as executive vice chairman as a major shareholder.
Mrs. Josephine Aligwekwe, spokesperson of the bank had a fortnight ago, quoted the CBN letter conveying approval titled, “Re: Application for a Commercial Banking Licence with Regional Authorisation,” dated December 27, 2012. The letter with reference number FPR/LAD/CON/HBC/02/062, was signed by the CBN Director of Financial Policy and Regulations, Chris O. Chukwu.
Aligwekwe, who is group head, Corporate Affairs of the bank, announced that with the CBN approval secured, it is set to commence operations immediately in conformity with the terms of the Licence.
“All customers of the former Societe Generale Bank (Nig.) Limited are advised to look out for announcements in the national dailies detailing the processes and procedures for the account validation exercise”, the statement said.
The return of SGBN’s licence, followed a favourable June 2008 ruling by Justice Binta Murtala that the CBN’s revocation order was “in bad faith, unconstitutional, null and void.”
SGBN had denied allegations that it made no effort to recapitalize, as merger talks with Unity Bank was at advanced stage at the time its licence was revoked, blaming the CBN for frustrating its effort to conclude the arrangement before the deadline expired
Here, http://fortunefair.blogspot.com, we will always preach the power of PRODUCTIVE LIVING and of creating MULTIPLE STREAMS OF INCOME as a way to protect your profits. Keep coming back to the blog as we keep on identifying the best methods, unique strategies, effective techniques to earn unlimited income from paid to click, surf, read, promote and sign up excellent passive income sources. These are revolutionary ways to make money online. We select, review and recommend to our associates the best PTC paying sites.
In a nutshell, we are helping thousands of people worldwide become their own boss from their own home. The best part is No matter how much experience you have online you can make money month after month! So, Stay subscribed for more-make-money tips & tricks...
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