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Heritage Bank joins forces with Gail Sickle Initiative to rescue sickle cell patients

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Heritage Bank Plc has upped the ante of its support in the corporate social responsibility space by joining forces with Gail Sickle Initiative to rescue people living with sickle cell anaemia.

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The partnership with Gail Sickle Initiative, a non-profit organisation, according to the Executive Director, Heritage Bank, Osepiribo Ben-Willie with its back-to-school project support, is to ameliorate the burden of sickle cell persons in Nigeria and to ensure that all affected persons live normal pain-free lives.

She stated it has become of concern to Heritage Bank to help alleviate the burden as over 40million Nigerians are healthy carriers of the sickle cell gene, whilst 150, 000 children are born with the disorder.

This, according to her, is by far the largest burden of sickle cell disorder around the world especially Nigeria and most of these children die in childhood from lack of access to early diagnosis and proper care.

“In Heritage Bank, health is a priority, that is why we want to continue partnering and supporting the NGO, Gail Sickle Initiative on welfare support, early detection and improved treatment and proper care,” she said.

Ben-Willie further affirmed that said that Heritage Bank in partnership with Gail Sickle Initiative is synergizing to create significant awareness and support for individuals affected by the disease.

Speaking at an event, the convener of Gail Sickle Initiative, Oluwafemi Ajayi, disclosed that with the support from Heritage Bank, the NGO has gone beyond its support to her members whom she refers to as winning warriors, to supporting and donating to people living with the sickle cell disease across the country.

According to her, as an organisation that supplies supplements to winning warriors, the Gail Sickle Initiative partnered with Heritage Bank and with the funds provided went beyond the organisations’ members and reached out to other winning warriors who have no parental support and to those in various hospital to give them supplements and offset the bill of some who were unable to pay their bills.

Ajayi further stated that Sickle Cell disorder poses various challenges to the carriers like the health challenge, stigmatisation, economic challenge amongst others.

According to her, the Gail Sickle Initiative focused on how to cover every aspect of these challenges by birthing the Sicklepreneur, this aids the warriors to be trained so they can acquire relevant skills and equip themselves to be independent.

Therefore, apart from trying to eradicate the sickle cell disease, they ensure that the stigmatisation label on the warriors does not result in depression for them.

She encouraged other corporate organisations to learn from Heritage Bank’s sterling example to the winning warriors by supporting the initiative and further contributed towards the back-to-school project with relevant items donated.


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E-Financial

CBN Warns Banks, Fintechs on Compliance with Sanctions

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Central Bank of Nigeria (CBN) has reminded banks, payment service banks, and fintech companies of their obligations to comply with applicable sanctions regimes.

CBN Warns Banks, Fintechs on Compliance with Sanctions

These sanctions include the United Nations Consolidated Sanctions List, the Nigerian Sanctions List in line with the Terrorism (Prevention and Prohibition) Act 2022, and guidelines on targeted financial sanctions related to terrorism and its financing.

This was contained in a letter dated April 17, 2025 and signed by Amonia Opusunju for the director of the Compliance Department.

The CBN directed all financial institutions to ensure strict adherence to sanctions lists maintained at both international and national levels.

According to the apex bank, financial institutions are expected to regularly update their systems to identify designated persons or entities and prevent the misuse of financial platforms to facilitate illegal transactions.

The letter read: “Financial Institutions are required to maintain a robust and dynamic sanctions compliance framework that enables them to Identify and respond promptly to updates or changes across all applicable sanctions lists; Prevent the use of their systems and platforms for transactions involving designated individuals or entities; Conduct real-time screening of customers, transactions, and beneficial owners; and File appropriate reports with the Nigerian Financial Intelligence Unit (NFIU) and notify the CBN, where necessary.”

The CBN’s directive also covers real-time screening of customers, transactions, and beneficial owners.

Institutions are to report suspicious activities to the Nigerian Financial Intelligence Unit (NFIU) and notify the apex bank where necessary, the apex bank warned.

According to the bank, non-compliance with the regulations could attract sanctions in form of enforcement actions or regulatory penalties.

It added that sanctions compliance frameworks must be periodically reviewed and aligned with prevailing laws and regulatory expectations.

The CBN advised all financial institutions to take note of the guidance and act accordingly.

“This letter serves as a regulatory reminder and all Financial Institutions are expected to ensure continued compliance with applicable laws and CBN directives,” the apex bank stated.

 

 

 


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How CBEX Operators ‘Enticed’ Victims –SEC

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Securities and Exchange Commission (SEC) says preliminary investigations revealed that Crypto Bridge Exchange, aka CBEX, engaged in promotional activities to create a ‘false perception of legitimacy’ to entice ‘unsuspecting’ Nigerians.

How CBEX Operators ‘Enticed’ Victims –SEC

About N1.3trillion was reportedly wiped out from the investors’ account after the platform, which boasted of giving investors 100 per cent Return On Investment in 30 days crashed on Monday.

The SEC stated that CBEX was not granted registration by the commission at any time to operate as a Digital Assets Exchange.

In a circular dated April 17, 2025, the commission stated that its attention was drawn to recent media reports/publications on the activities of CBEX (Crypto Bridge Exchange).

According to the SEC, “The commission hereby clarifies that neither CBEX nor its affiliates were granted registration by the commission at any time to operate as a Digital Assets Exchange, solicit investments from the public or perform any other function within the Nigerian capital market.”

The agency said, “Preliminary investigations carried out by the commission have revealed that CBEX engaged in promotional activities to create a false perception of legitimacy, in order to entice unsuspecting members of the public into investing monies, with the promise of implausibly high guaranteed returns within a short timeframe.”

The SEC emphasised that pursuant to the provisions of Section 196 of the Investments and Securities Act 2025, the commission would collaborate with relevant law enforcement agencies to take appropriate enforcement action against the CBEX, its affiliates and promoters.

“The commission uses this medium to remind the public to REFRAIN from investing in or dealing with any entity offering unrealistic returns or employing similar recruitment-based investment models.”

Dr. Emomotimi Agama, director general, SEC, had recently said the commission is launching a more forceful and coordinated enforcement regime against unregistered and illegal “phony” investment schemes, otherwise known as ponzi schemes.

Agama said with the newly enacted Investments and Securities Act, 2025 (ISA 2025), the Commission now has enhanced powers to prosecute Ponzi schemes and their promoters.

He said investigations were ongoing on CBEX, adding that promoters of the failed scheme will not go scot-free.

Agama said the new law has given the commission more powers and blocked loopholes in emerging areas of virtual and digital assets.


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Union Bank Champions Nigerian Innovation with Made In Naija RISE Challenge

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Union Bank of Nigeria, under its Made In Naija initiative, emphasised its commitment to supporting homegrown businesses by recently sponsoring the RISE Business Challenge at the University of Lagos, Akoka, during the 6th Annual Youth Leadership Conference.

Dubbed Turning Point 6.0, the Resilience, Innovation, Social Responsibility, and Entrepreneurship (RISE) Challenge is a collaboration between Union Bank and the conference convener, Mr Olusegun Odufuwa, to empower youth-led businesses with financial and mentorship support through a pitch competition.

Targeted at uplifting young men and women with requisite entrepreneurial skills, the event aligns with one of the Bank’s primary objectives of encouraging Made In Naija and the next generation of Nigerian innovators and business leaders, culminating in positive social impact and sustainable economic growth.

The competition also aims to identify and reward outstanding business ideas demonstrating viability, sustainability, and social impact.

This year’s RISE Challenge winners were chosen after a rigorous selection process involving participants sending their proposals for a team of judges and business experts to assess.

The final four selected competitors then pitched their ideas individually to a panel of judges, who chose the winners based on innovation, social impact, sustainability, and financial viability.

The first, second and third places received cash prizes of N1,000,000, N750,000, and N250,000, respectively.

During the event, Ayokunumi Abraham, Head SME of Union Bank of Nigeria, said, “Union Bank is passionate about supporting Made In Naija and youth-led businesses to scale for sustainable growth.

“We believe this will not only boost and nurture upcoming enterprises but also create a positive ripple effect that will drive employment, innovation, economic opportunity, and access that will empower small and medium businesses across the length and breadth of the country.”

The RISE conference is a premier annual gathering designed to equip young leaders and entrepreneurs with the resilience, innovation, and social responsibility required to thrive in today’s fast-paced world.

This year’s edition attracted diverse attendees, including young professionals, entrepreneurs, business executives, policymakers, and thought leaders.

Union Bank will continue to promote Made In Naija and young innovators to drive economic growth and strengthen its position as a leading bank for entrepreneurs.


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