Heritage Bank to Return Trapped Deposits in SGBN

Heritage Bank Plc says it will refund 100 percent of customers’ deposits trapped in the defunct Societie Generale Bank of Nigeria, SGBN, if owners can show proofs of such deposit made in the bank before it caved in.
Managing Director of the bank, Mr. Ifie Sekibo disclosed this on Monday while on a courtesy visit to Governor Babatunde Fashola at the State House, Ikeja, Lagod, Southwest Nigeria.
He added that asides paying such money, the bank would also pay 10 year interest on the money, based on the 10 years that the bank had left the exited the scene.
“We have an arrangement with Central Bank of Nigeria that all those who are able to prove that their money is tied in that bank will be paid 100 percent with interest for 10 years,” he stated.
According to him, the bank had perfected plans to adopt a school in Lagos as part of its corporate social responsibility where it would be able to upgrade facilities in the school as well as partner with the government in the fight against crime by donating to the Security Trust Fund.
He added that the bank had already signed a Memorandum of Understanding, MOU with the Nigerian Tourism Development Corporation, NTDC and the Lagos Business School to showcase Nigerian arts to the world, saying that the bank was back to assist those who thought they could make it and those who had made it.
Speaking, Fashola commended the bank for deciding to refund the deposits of those whose money were trapped in the defund SGBN.
The governor urged the bank to look at the mortgage sector as well as the small and medium scale business as areas of interest.
He said the government had put in place capacity to respond to emergency irrespective of who is to benefit, adding that “as for the school, who knows the school you adopt could produce the next Chief Executive Officer of your bank?”
Fashola said he supported move to preserve historical sites which the bank set to achieve but that the NTDC’s role was limited to traffic in tourism and that a Supreme Court judgment had made it very clear that only the states had a role to play in tourism.
source: PM News

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