E-Financial
Heritage Bank Achieves ISO 27001 Information Security Management Certification
Heritage Bank Plc, has achieved the Information Security Management Certification from International Standards Organisation (ISO).
This certification also known as the ISO 27001: 2013 is part of the ISO 27000 family of standards which helps organisations keep information assets secure. The certification was achieved on the heels of the bank’s drive to revolutionize the banking sector digital experience with Octopus, by putting in place a systematic approach to managing sensitive organisational information, ensuring it remains seamless, secure and available.
The Octopus platform owes numerous benefits to the users, thereby enable small businesses key into electronic payment system easily, efficient collections, social integration, retention strategy, bills payment, mobile virtual top-up, funds transfer, balance enquiry, movie show time, news.
With the introduction of Octopus, the ISO 27001: 2013 Information Security Management Certification is proof of the Bank’s demonstrated ability to consistently provide products and services that gives service consumers and customers an easily recognisable security hallmark.
Speaking on the award received, Ifie Sekibo, MD/CEO of Heritage Bank Plc, reiterated the bank’s commitment for secured services, whilst assuring customers that their information is appropriately protected and, as such, reduces the need to undertake time consuming and costly onsite security audits reducing time and cost for both parties.
According to him, the certification demonstrates credibility and trust, which reduces customer and supply chain audit and ISO 27001 certification reduces third party scrutiny of your Information Security Management by customers and the wider supply chain.
“The achievement of ISO 27001 will differentiate two competing organisations in the market place, providing a valuable competitive advantage. Increased legislative and regulatory compliance ISO 27001 supports compliance with relevant laws such as the Data Protection Act 1998 and software copyright legislation.
This in turn reduces the risk of facing prosecution and fines. An organisation’s liability in security incidents may be reduced if it is certified ISO 27001 compliant,”
He further explained that it reduces customer and supply chain audit, stating that ISO 27001 certification reduces third party scrutiny of your Information Security Management by customers and the wider supply chain.
As ISO 27001 is the current international benchmark for Information Security Management, it is increasingly recognised that compliance with the standard is supportive evidence of adequate security.
Considerations and outcomes To achieve ISO 27001 certification, an organisation must produce documentation that demonstrates that it has developed an Information Security Management System that complies with the standard.
Organisations should consider producing most of this documentation even if they are not going for certification as it provides a best practice approach for compliance as well.
There are three key issues to note about the standard: Its generic requirements mean that it is applicable to all organisations, regardless of size, type or nature. However, you tailor it to the exact needs of your organisation through the information security controls that you select to implement within your Information Security Management System.
It takes a flexible, risk-driven approach. It is dynamic – it focuses on continual improvement and helps the organisation keep ahead of changes both within and outside the organisation.
Union Bank of Nigeria has reaffirmed its status as a going concern with stable operations, responding to media queries sparked by Central Bank Governor Olayemi Cardoso’s remarks at the 304th Monetary Policy Committee (MPC) briefing.
Union Bank
Cardoso clarified that banks under regulatory intervention face unique recapitalisation timelines due to their circumstances, distinct from others with more preparation time.
Union Bank’s Chief Brand and Marketing Officer, Mrs. Olufunmilola Aluko, said the Governor’s comments align with the bank’s messaging.
“The Governor’s remarks reinforce what has consistently been our position. Union Bank remains under strong regulatory oversight with a resilient franchise, stable operations, and uninterrupted service delivery,” Aluko stated.
She stressed that all customer deposits remain safe and secure, with the bank operating transparently within the regulatory framework and collaborating with the CBN on recapitalisation.
Union Bank pledged updates as engagements progress, prioritising customer protection, financial stability, and service continuity amid the system-wide strengthening programme.
Flutterwave has transformed from a modest Lagos venture into one of Africa’s most valuable fintech firms, processing billions in transactions yearly across 30+ countries and 150+ currencies.
Flutterwave
Founded in 2016 by Iyinoluwa Aboyeji, Olugbenga “GB” Agboola, and Adeleke Adekoya, it tackled Africa’s fragmented payments—siloed banks, mobile money gaps, and unreliable cross-border flows—with a unified API for seamless collections, payouts, and settlements.
Founding Vision
The trio spotted the pain: Aboyeji’s Andela faced border delays; Agboola drew from PayPal/Google; Adekoya handled compliance. Early wins included Uber Nigeria payouts from a Lekki co-working space, proving scalability amid lean ops.
Growth Milestones
2017–2020: $10M seed/Series A fueled West Africa push; Agboola took CEO helm post-Aboyeji; COVID boosted e-commerce volumes.
2021–2022: Unicorn at $1B+ (Series C, $170M); $3B+ valuation (Series D, $250M); partnerships with Microsoft, Uber; Send App for US diaspora.
2025–2026: Profitability focus yields better margins; 34 US licenses; Mono acquisition ($25–40M) bolsters open banking.
Challenges Overcome
Regulatory hurdles hit: Kenya 2022 freeze (cleared); Nigeria fraud claims (resolved, controls enhanced); culture probes led to reforms with ex-Mastercard/Stripe hires. These underscore multi-jurisdiction risks like FX curbs and cyber threats.
Nigeria’s Fintech Role
Flutterwave anchors alongside Paystack (Stripe-owned), Moniepoint, amid CBN cash curbs and AfCFTA trade boosts. Dual HQ in Lagos/SF eyes IPO post-profitability, cementing it as Africa’s payments backbone.
Chartered Institute of Bankers of Nigeria (CIBN) has pledged its full support to the Association of Corporate and Marketing Professionals in Banks (ACAMB) following a high-level strategic meeting between the leadership of both bodies.
New ACAMB Leadership
The high profile meeting, which took place on Tuesday at the CIBN Building, Lagos, served as a formal introduction of the new ACAMB Executive Committee to the CIBN leadership and marked the beginning of a renewed collaborative alliance.
Leading a delegation of the newly inaugurated ACAMB EXCO and Board of Trustees, the President, Jide Sipe, described the visit as a crucial first step in his tenure, aimed at contributing significantly in giving flight to his vision and that of ACAMB.”
“When we assumed office, one of the first things we agreed on was the need to visit key stakeholders”
“However, before reaching out more broadly, we felt it was important to begin with our primary constituency and core stakeholders. We want them to understand the direction we are taking and to support the work we are doing, so that ACAMB can achieve greater success than it has in the past”
“We couldn’t have properly started our tenure without this very important meeting with the CIBN,” Sipe stated
Sipe introduced the newly constituted ACAMB Exco, which includes, the 2nd Vice President, Morolake Phillip-Ladipo; General Secretary, Olugbenga Owootomo, Assistant General Secretary, Ademola Adeshola; Publicity Secretary, Abiodun Coker, and Executive Secretary, Fadekemi Ajakaiye
During his address, Sipe unveiled an ambitious roadmap for the association, highlighting a new direction focused on youth engagement, professional development, and industry advocacy.
Responding, the CIBN President, Professor Pius Deji Olanrewaju, who warmly received the ACAMB team, commended their forward-thinking vision as he noted that, the association would be focusing on critical areas such as reputational management, sustainable corporate practices, and governance reforms
Olarenwaju also commended ACAMB’s collaboration with CIBN in information management, saying it had raised standards across Nigeria’s banking sector.
“ACAMB’s support has given CIBN and the banking sector brand equity,” he said, praising the association’s record in reputation management.
He recalled ACAMB’s role in addressing crises within the sector, describing the partnership as strategic and beneficial.
He further pledged support for ACAMB’s 30th anniversary in September 2026, its AGM, and other programmes, including fundraising initiatives.
Olarenwaju also promised backing for ACAMB’s capability development and undergraduate mentorship schemes.
“I want to assure you that everything you have presented today has been clearly noted and will be acted upon”
“We are fully committed to working closely with you so as to translate these discussions and vision into measurable progress. Our shared goal is to strengthen the sector, protect its reputation, and enhance its public image in a meaningful and lasting way”
“This meeting discussed various initiatives and reforms crucial for the future of our industry, including the need for continuous training and adaptation to new programs,” Prof. Olanrewaju said.
The meeting concluded on a high note, with both parties expressing gratitude and a firm commitment to deepening their collaboration for the advancement of the banking industry in Nigeria.
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