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COVID-19: Heritage Bank Adopts Systemic Business Management Strategy to Meet Customers’ Needs

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Heritage Bank Plc has disclosed that the safety and wellbeing of its customers and employees are amongst the most pressing business needs, as the world grapple with the impact of the Coronavirus pandemic on human lives, businesses and economies.

Ifie Sekibo, MD/CEO of Heritage Bank, in his message to customers, explained that the bank has adapted to the changing environment swiftly to offer more seamless services that is usable and accessible without interruption.

According to him, the bank adopted a systemic business continuity management strategy, as a crisis response measures in place to minimise and manage the risk arising from the disease and ensure that the payment infrastructure and logistics to maintain seamless operations are readily available.

He stated that despite the cessation movement by the Federal Government to contain the spread, “Heritage Bank remains resolute to continually serve you seamlessly despite prohibitions imposed on physical contact through our bouquet of electronic products which have been made available on notable mobile stores and our website (www.hbng.com).

Sekibo, who reiterated that Heritage Bank is people focused, noted that a percentage of its workforce work from the business offices to carryout duties which cannot be executed remotely, whilst others work remotely from home for safety.

He further stated that efforts were ongoing via the bank’s intranet and other channels to keep staff and customers up-to-date with the latest COVID-19 information and provide clear direction and guidance expected of workers and customers.

“All Heritage Bank staff have been trained in safety and protection measures and I will make it a responsibility that our organization continues to practice goof hygiene, through frequent hand washing, use of sanitizers, and practicing social distancing during and beyond the pandemic.

“We have setup a COVID-19 Support Centre to offer COVID-19 safety tips to all our customers during this period, in support of the efforts of the Government and relevant bodies.

“Please send any information relating to the COVID-19 pandemic via these channels: E-mail: [email protected] and contact number: 01-2369099,” the bank’s helmsman stated.

Sekibo, who said, “we are in this together,” noted that the world are inspired by the selfless health workers on the frontlines; whilst commending them for their self-sacrificing and bravery in the fight to contain the spread of the virus to keep the world safe and inhabitable.

Meanwhile, the MD, who expressed his heartfelt wish for full recovery of those affected directly or indirectly by the virus, stated, “it is my supreme hope that the global halt comes to an end and that its cause, the virus, is vanquished sooner than later. I know that when this happens, we will rise from it all, stronger, as we started together.”


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University.

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FG Sacked IST Members over Fraud- Ahmed

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Mrs Zainab Ahmed, minister of Finance Budget and National Planning, has said the Federal Government sacked some past members of the Investments and Securities Tribunal (IST) as they indulged in corruption.

FG Sacked IST Members over Fraud- Ahmed

Inaugurating the new members, the minister charged the new members to eschew corruption and be forthright.

Bar. Azi Amos Isaac was appointed as Chairman for a five year term and Bar. Nosa Smart Osemwengie, was re-appointed as member for a second term of four years.

“The problem with the tribunal has been infighting amongst members, lack of industrial harmony and series of complaints bordering on maladministration.

“This has been the bane of the tribunal and a source of embarrassment not only for the Ministry of Finance but for the government in general,” Ahmed said.

The new chairman, Azi, assured the finance minister that, “the teething issue of restiveness has been addressed since he assumed duty,” adding that, “The place is calm and the staff have become very supportive.”

Azi said since 2003, the tribunal has “given judgment in the value of assets worth over N844 billion and that from 2017 to date, they have given decisions in monetary value totalling over N28bn.

“It has not failed in its adjudicatory responsibility.

“It has carried out its assignment with candour and integrity and intends to improve on what has been on ground.”

 


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CBN Bans Customer-to-Customer Forex Transfer

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Central Bank of Nigeria (CBN) has banned transfer of foreign exchange (forex) from one customer to another.

CBN Bans Customer-to-Customer Forex Transfer

According to the apex bank, forex cash lodgements into domiciliary accounts can only be done by the account owners henceforth.

An internal memo available in the media space explains that the new guidelines are necessary to review the utilisation of inflows into customers domiciliary accounts.

The circular states: “Forex inflows cannot be credited to customers until the legitimacy of funds is established.

“They can have unfettered access by telegraphic transfers up to a limit of $40,000 monthly for payment of medical bills, school fees, subscription to professional bodies subject to existing CBN guidelines.

“Transfers from one customer to another is prohibited. Transfer within related companies is allowed subject to a limit of $50,000 per month.”

It recommended that proceeds from non-oil exports should be sold to banks, used for repayment of dollar term loans, and self-utilisation for trade transactions for LC, bills and Form A.

Also oil export proceeds from E&P companies are to be used to pay contractors and service providers employed by the oil companies in addition to the recommended uses for non-oil FX proceeds.

Offshore forex inflows from other Nigerian banks and internal account to forex transfers sourced from offshore inflows are to be used for trade transactions subject to eligibility for E-Form M.

“Upon confirmation of the legitimacy of the inflows, customers can have unfettered access, subject to a maximum of $50,000,” the document read.

“Utilisation for trade transactions subject to processing of eligible trade transactions using E-Form M. Payment for services must be backed with demand note from offshore beneficiary and other regulatory documents.

“Related party transfers are allowed to the maximum of the inflow received. The transfer request should be backed by a signed instruction from the account holder.” Payment of government fees and levies are also allowed to the maritime, oil and gas, aviation. government parastatals and export processing zones.

 


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Stanbic IBTC, Standard Bank, Listed Among Top African Corporate Brands

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Stanbic IBTC Holdings PLC and its parent company, Standard Bank, have emerged amongst the top winners of the 2020 Tech Times’ Africa LinkedIn Corporate Brand Awards.

The Stanbic IBTC Group emerged the second position in the category, with total votes of 3,515, out of 24 firms nominated for the award. Standard Bank placed the fourth 2,494 votes.

Nominations for this award opened to the public on July 1, 2020 and closed on July 14.

Shortlisted nominees were announced on August 24 while voting commenced immediately and voting ended on September 8, 2020.

The Corporate Brand Awards was instituted by Tech Times’ Africa, an online platform for leading technology, innovation, and startup stories.

Expressing his delight on the awards, Dr Demola Sogunle, Chief Executive, Stanbic IBTC Holdings PLC, said that both Stanbic IBTC Holdings PLC and Standard Bank had been deliberate and consistent in making a remarkable impact in Africa’s financial sector.

“Our sincere appreciation goes to the organisers of the Africa Corporate Brands Awards and to every member of the public who voted. This is a reflection of the high level of trust and confidence that the public has reposed on us,” he added.

Dr Sogunle further said that Stanbic IBTC Holdings PLC would remain relentless in portraying the organisation as one of the most influential corporate brands in Africa.

He stated: “Stanbic IBTC Holdings PLC and Standard Bank have relentlessly contributed to driving the growth and development of the African financial ecosystem. These awards affirm our efforts, and we are encouraged to raise the bar continually.”

The Africa Corporate Brand Award is designed to identify and recognise outstanding companies. It also projects their achievements and impacts on African society and the world at large.


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