ACCESS BANK REFUTES GMD'S ARREST CLAIM THAT HAD GAINED TRACTION.

Much as the news had gone near viral about the arrest of the hardworking Herbert Wigwe who is the GMD of Nigeria's current biggest financial institution after it had merged with Diamond Bank to now become a banking powerhouse now known as Access Bank Plc, the bank has had come out to vehemently refute the claim of arrest, that it is very very far from the truth.

All of last week and even till this weekend, the news has gone about that the EFCC had arrested Herbert Wigwe. Much as we had tried to get clarification from the right quarters about the supposed arrest, the bank had only subtly said the arrest claim was not entirely true, but even with that, the story had refused to go to sleep, not until the bank had to now officially send out a statement, especially to the Nigerian Stock Exchange to powerfully refute the claim.

See the official statement above signed by the bank's Company Secretary, Sunday Ekwochi.

See the statement sent to the NSE here -

Our attention has been drawn to a trending report on social media regarding the alleged arrest of Mr. Herbert Wigwe, the Group Managing Director of Access Bank Plc (Access Bank) by the Economic and Financial Crimes Commission (“the Commission”).

We wish to state that the issue essentially relates to the credit facilities that were availed Slok Nigeria Limited (“Slok”) by the defunct Diamond Bank plc (“Diamond”) and which were secured by Slok’s assets charged to Diamond. Access Bank had inherited the Slok credit following the recent merger of Diamond with Access Bank.

Given the differing interest of the Commission and the Bank on the assets of Slok deriving from the court’s recent judgment on Slok, the Commission had invited for interrogation officials of Access Bank who were handling the Bank’s recovery efforts on Slok credit including its Group Managing Director.

Following fruitful engagement between the Bank and the Commission, we are of the opinion that the issues relating to Slok investigation have been resolved.

As an institution built on best practice, we wish to assure our esteemed stakeholders that the Bank will continue to conduct its business in line with extant laws and relations

Sunday Ekwochi

Company secretary

Heritage Bank empowers 5, 544 pupils on financial literacy to secure economy

As part of efforts to support the Central Bank of Nigeria’s Financial Literacy Day, which marks the Global Money Week, Heritage Bank Plc empowered 5, 544 (pupils and teachers) in 11 secondary schools across the country.

The CBN’s Financial Literacy Day is a globally celebrated event to promote savings, drive Financial Inclusion, invariably gain a higher standard of life and secure the economy, which is the crux of the Bank’s financial literacy programs.

For the fifth year running, Heritage Bank has successfully commemorated the CBN Financial Literacy Day.
This year, CBN directed Heritage Bank to adopt schools in Benue, Adamawa, Jigawa, Plateau, Imo, Bayelsa and Ogun States for Financial Literacy workshop and the day afforded 5, 544 participants (teachers and students) with financial education.

The workshop was premised on the Global Money Week theme: #MoneyMattersMatter. Students and teachers were taught several concepts including;  the role and management of money, needs and wants, benefit of budgeting, spending and savings. Whilst, others include savings with a financial institution, the basics of financial education and Heritage Bank savings product for young persons (Bud Account).

Addressing some of the participants, the CEO/MD of Heritage Bank, Ifie Sekibo reiterated the importance for young Nigerians to financially and economically equipped for the development of the nation.
According to him, Nigerian youths and those around the world need to be fortified economically via financial literacy knowledge acquisition, which will foster the importance of understanding savings culture and entrepreneurship.

In line with its mission to create, preserve and transfer wealth across generations, Sekibo said Heritage Bank developed the HB Bud Savings Account to help its customers to create wealth for the children and provide them a future of financial independence.
“As a bank committed to creating, preserving and transferring wealth from one generation to the next, we have consistently maintained our position as the leading brand in financial inclusion initiatives by leveraging on CBN’s mandate to impact schools across the geopolitical zones and improve financial inclusion,” the MD reiterated.

According to him, opening a savings account for a child is one of the best ways to introduce him/her to that concept of saving at an early age.

He explained that one of the ways the bank has continued to promote savings amongst children is the introduction of “My day as a banker” which is also the Heritage Bank’s unique way of promoting financial literacy among children, which is the core of the HB Bud Savings Account, specially designed to promote savings habit among children and youths.

Meanwhile, other senior employees of the bank visited other select schools in the country as directed by the apex bank to promote financial literacy.

According to Heritage Bank, today’s children and youth should become empowered economic citizens, capable of understanding the importance of saving, and equipped with the skills to be employed and create their own livelihoods. The bank wants young people to learn to manage their money wisely. By empowering children and youth, Heritage Bank can help them create a positive wave that will expand from themselves, to their families, to entire communities and the economy at large.