Heritage Bank To Return Societe Generale Bank Customers’ Trapped Deposits

It’s good news for customers of defunct Societie Generale Bank of Nigeria, SGBN, as Heritage Bank Plc says it will refund 100 percent of customers’ deposits trapped in the bank, if owners can show proofs of such deposit made in the bank before it liquidated.

Managing Director of the bank, Mr. Ifie Sekibo disclosed this on Monday while on a courtesy visit to Lagos State Governor Babatunde Fashola at the State House, Ikeja.

According to Sekibo, apart from such payment, the bank would also pay 10 years interest on the money, as 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.

Sekibo also said 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. The bank also plans to partner with the government in the fight against crime by donating to the Security Trust Fund.

A Memorandum of Understanding, MOU has already been signed by the bank, with the Nigerian Tourism Development Corporation, NTDC and the Lagos Business School to showcase Nigerian arts to the world, as Sekibo said the bank was back to assist those who thought they could make it and those who had made it.

Fashola commended the bank for deciding to refund the deposits of those whose money were trapped in the defund SGBN.

He also 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 also lauded the move to preserve historical sites which the bank set to achieve, but he noted 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.