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Heritage Bank Opens Branches in Lagos, Ibadan

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Heritage Bank, the newest player in the Nigerian banking sector, has opened its first two branches in Marina, Lagos and Dugbe in Ibadan, Oyo State Capital.

While the Marina branch went on stream mid-March, the Ibadan office opened for business in the first week of April.

Ifie Sekibo, chief executive officer, Heritage Bank, describing the development as momentous in the life of the new bank, in his welcome address at the Ibadan branch opening, noted that the Nigerian banking landscape has now been primed to witness great development and innovation, especially in the deployment of technology to give the banking public a fresh experience.

According to him, “this is the dawn of a new day in the banking industry as we make history with the full establishment of Heritage Bank. It is a new day that births our offering of trans-generational significance as we commit to helping Nigerians create, nurture and transfer wealth to the significant others in their lives”.

“With the launch of our operational branches, we have signed up to the charter of establishing a bank that is tuned to the discipline of global best practices and the passion of delivering transformational experiences for everyone that honours us with their custom.

Our commitment will always be to harness what you have and grow it into what it can be with you and your generations’ security in view. We are poised to leverage our over 150 years combined experience, great people and cutting-edge technology to build and most importantly, preserve your heritage, once you choose to partner with us in this unique journey we have embarked on”, Sekibo added.

The Heritage Bank helmsman equally pledged the bank’s determination to work with each customer to create a name and heritage for today and future generations.

He said this would be achieved through Partnership, People and Process, noting that at the heart of Heritage Bank’s aspiration to consistently deliver premium services to its customers lies innovation wrapped in modest elegance and knowledge.

“At Heritage Bank, each guest is unique in all respects and our pledge is to bring you into a world of financial services designed with a deep understanding of your needs and wants. Our people have signed up to the charter of getting knitted to the personal lifestyle of each individual and we are wired with the passion of delivering five star experience and exposure at every point of contact with our clients. For all classes of our customers either at the individual or institutional level, we present a pledge to surpass expectations. We have simplified banking and with our innovative financial products, your money can perform at its maximum potential”.

“We are a tenacious team, committed to delivering distinctive financial services, building on our legacy of innovation and partnership to create, preserve and transfer wealth across generations.

We shall create value for all stakeholders using superior market knowledge, operational excellence and a culture of integrity. We are here to share our values of Excellence, Respect for the Individual, Integrity and Innovation with you. We ask that you hold us to this pledge as we open our arms and doors to you”, he further pledged.

Akinsola Akinfemiwa, chairman of the Bank, said the bank would readily offer help to SMEs in the area of structuring their operations to be able to access credit for growth, development and sustenance.

Heritage Bank, he said, would fill the ‘generational banking’ space in the nation’s financial sector to create generational wealth for lasting development.

Akinfemiwa further pledged that the bank would assist in project financing and revenue collection in Oyo state, adding that the management chose Ibadan as the first place to open a branch outside Lagos due to its significance to the Southwest and its enterprising populace.

He disclosed that more branches, which the bank prefers to call ‘Experience Centres,’ would be opened in Abuja and Port Harcourt, and other parts of the country soon.

On his part, Senator Abiola Ajimobi,  Oyo State Governor, who was on hand to cut the tape to commission the new Ibadan branch, expressed optimism that the bank would live up to its promise to contribute to the economic development of the state.

“For us in Oyo state, we are happy to welcome Heritage Bank to Ibadan and we look forward eagerly to your promise to help galvanize and rejuvenate our small and medium enterprises so that together, we will be able to build a lasting, prosperous economy for our people to thrive and meet their aspirations”.


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E-Financial

Kuda Bank Teams Up with Lovers & Frnds for Inclusive Valentine’s R&B Bash

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Kuda Microfinance Bank partnered with Lovers & Frnds for a Valentine’s edition event on Sunday, February 15, at Space Hub Lekki, Lagos, redefining celebrations around love, friendship, and social connections beyond romance.

Kuda Bank Teams Up with Lovers & Frnds for Inclusive Valentine’s R&B Bash

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The R&B-themed gathering drew couples, friend groups, and solo attendees with music sets from DJs like TGarbs, games, gift exchanges, and colour-coded tags—red for relationships, yellow for mingling singles, orange for non-minglers—to spark easy interactions.

Kuda activated a branded photo booth, merchandise giveaways, prize activities, and complimentary drinks for Premium loyalty tier customers, while vendors used Kuda Business POS terminals for seamless cashless payments.

Senior Brand Manager Emmanuel Femi-Adejobi said: “We partner with experiences matching our customers’ lifestyles in music and entertainment, creating spaces they genuinely connect with—we’ll keep supporting how they live and celebrate.”


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CBN Slashes Rate by 50bps

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By Mathew Anthony, Market Analyst at FXTM

In another positive development for Nigeria, the CBN has proceeded with 50-basis points rate cut.

CBN Slashes Rate by 50bps

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With favourable fundamental forces at play, it was always a question of how much rather than if rates will be cut in February.

Although some were expecting a hefty 100-basis point cut, this was still a positive move by the CBN, mirroring the dovish strategy of other major banks on the continent.

Interest rates were slashed thanks to cooling inflationary pressures, a stronger Naira and rising FX reserves.

This move is likely to boost confidence over the economic outlook ahead of the Q4 GDP report scheduled for release later this month.


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CBN Cuts MPR by 50bps to 26.50% as Inflation Eases for 11th Month

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Central Bank of Nigeria (CBN) has lowered its Monetary Policy Rate (MPR) by 50 basis points to 26.50 percent from 27 percent, a unanimous decision announced by Governor Olayemi Cardoso at the end of the 304th Monetary Policy Committee (MPC) meeting in Abuja on Tuesday.

CBN Cuts MPR by 50bps to 26.50% as Inflation Eases for 11th Month

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Cardoso cited 11 straight months of decelerating headline inflation—reaching 15.10 percent in January 2026 per National Bureau of Statistics—as key, driven by prior tightening lags, naira stability, food supply gains, steady petroleum prices, export earnings, remittances, and balance of payments strength.

Liquidity ratio stays at 30 percent, CRR unchanged at 45 percent for commercial banks (16 percent merchant banks) and 75 percent non-TSA public deposits; standing facilities corridor now +50/-450 basis points around MPR.

The MPC retained other parameters, welcoming Executive Order 09 redirecting oil/gas revenues to the federation account for fiscal boost, last cutting rates in September 2025 after November’s hold.


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