Heritage Bank: 7 Years of Creating Heritage Wealth For Nigerians

Today, one of the fastest growing financial service providers in Nigeria, Heritage Bank Plc, is celebrating 7 years of its existence. Established with an excellent service culture hinged on partnering with customer to create wealth, the lender has continued to provide seamless banking experience, accurate and relevant information to its customers across Nigeria. For Heritage Bank, it’s been seven years of creating, preserving and transferring wealth to its teeming customers across the country.


The Beginning

A story began on March 4, 2012; a story of hard-work and determination when IEI Investments Ltd acquired Societe Generale Bank of Nigeria license from the Central Bank of Nigeria, CBN, after meeting all requirements by Nigeria’s apex bank.


Heritage Bank Internal Heritage Bank Plc was born and began its operations in Nigeria as a regional bank on March 14, 2013. After acquiring the license and structure of the old Societe Generale Bank of Nigeria which was closed down by the CBN for failing to meet the new capital requirements of N25 billion or $155 million for a national bank in January 2006, Heritage Bank returned 100% of existing SGBN account holders’ money which were frozen at the closure of the SGBN. This move brought a lot of smiles to the faces of former account holders with majority of them having confidence to continue to bank with Heritage. This was the beginning of a success story of a man bank that was dead for 10years before it was resurrected by Mr. Ifie Sekibo and his team. After 1 year it began commercial operations, Heritage Bank became the centre of the biggest event in the Nigerian banking sector.



In October 2014, the Assets Management Corporation of Nigeria (AMCON) announced that Heritage Bank had emerged winner of the bid for the acquisition of the defunct Enterprise Bank. Heritage Bank had successfully met all the terms and conditions set by the CBN and AMCON towards owning 100% shares in Enterprise Bank. Heritage Bank which entered the market just a year defied all banking tenets and was able to withstand the might of top established players like Access Bank, Fidelity Bank, (then Skye Bank – now Polaris, Diamond Bank – Access) and others to win the bid for the acquisition of Enterprise Bank which also saw it inherit over 160 branches, over 177 ATMs, and 2000 POS terminals spread across major markets and commercial centres in the country. This move automatically transformed Heritage Bank from a regional bank to a national bank. Still, as big a move as it was, it remained just one of the many strategic moves to change the banking industry and Heritage Bank has made a lot of them since it began operations in 2013.

With a management focused on innovation and a unique philosophy to create, preserve and transfer wealth to its customers, Heritage Bank found itself in a fiercely competitive banking environment but it remained guided by passion, resilience, innovation and a brand architecture that exuded quality service, performance and sheer excellence. Heritage Bank introduced a zero Cost of Transaction to its customers in April 2013, implying that there would be no hidden charges as it continued its quest for 100% customer satisfaction. Heritage Bank also set a standard when it launched its pilot ‘Corner Shop’ to cater for traders at the Gbagada Plank Market in Gbagada Estate, Lagos to ease banking. The ‘Corner Shop’ was widely received and appreciated by the Gbagada traders as it saved them the time and money to visit a bank branch, kilometres away. Heritage Bank was not done yet. The bank went further to prove its trend-setting profile by introducing Nigeria’s first pioneer portable POS solution named ‘PortaPOS”.


The Heritage PortaPOS which is free to all Heritage Bank customers can accept all EMV chip and PIN cards, MasterCard, Verve and Visa cards. It is portable and light as a regular mobile phone and has a long-lasting and rechargeable battery. It also syncs to phones and printers via Bluetooth technology! Heritage Bank has found its feet quickly on the floor of the Nigerian Banking sector and recorded over 200% increase in the number of customers since 2013. It remains committed to its customers and continues to search for new heights to attain in the Nigerian banking sector and that is why the bank is considered the fastest growing bank in Nigeria. The Heritage Bank story is increasingly becoming a case study in corporate governance, leadership, vision and excellence.


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L-R: GoodLuck Linda, WOSSA Chief Welfare officer; Helen Unabor, WOSSA Chief Protocol officer; Olawale Osundele, Regional Head, Lagos Island 1, Lagos Island 1 Zone, Heritage Bank; Amb. Tayo Thomas, President of WOSSA; Dame Jennifer Omotayo-Thomas, Vice president, WOSSA and John Adah, Team Member, Corporate Communications, Heritage Bank, during the award ceremony held in Lagos to mark this year’s International Widows Day themed: Gender Equality Today for a Sustainable Tomorrow”


Heritage Bank supports over 500 widows, receives UN Award for Humanitarian Service 

Heritage Bank received the 2022 United Nations Award for Humanitarian Service from the Widows & Orphans Support Society of Nigeria (WOSSA), as no fewer than 500 widows and orphans in Lagos State benefitted from the Bank’s support. 

This was made known during the award ceremony held in Lagos to mark this year’s International Widows Day themed: Gender Equality Today for a Sustainable Tomorrow”.

The event was an opportunity to recognize Heritage Bank’s Corporate Social Responsibility (CSR) roles to widows, their children and other less privileged within the society.

Speaking during the awards presentation, Founder, Widows & Orphans Support Society of Nigeria (WOSSA), Ambassador Tayo Thomas, said Heritage Bank is one of the group’s key partners and has for years shown massive support to the widows. 

He said: ” Basically, we are giving this award to people and organizations that have been supporting the less privileged widows. These are our partners, they have been doing great service to humanity, especially service the less privileged widows in meeting their financial needs and those of their children”. 

Continuing, he said: “The United Nations Humanitarian Award is to appreciate and acknowledge them for their support to the less privileged widows. The United Nations Humanitarian Award is an award we give every 24th of June to those who have really supported the widows. Those who have joined us to fight against injustice against the widows. That is the reason for today”. 

Speaking at the event, Heritage Bank Regional Head, Lagos Island 1, Olawale Osundele, said the bank has for years, remained committed to improving people’s lives. 

He said: “It has always been one of our front liners to always improve the quality of people’s lives right from childhood. And today that they are marking the International Widow’s Day, we are also part of the support team to WOSSA in various aspects.”

“We have been supporting them in terms of providing quality education for children of widows to ensure that life after the death of their husband is still good to them and their children. We also support the children and orphans and the less privileged in the society,” he added.

According to Osundele, the bank’s support to the widows has always been a source of joy to them.  “It means that life still means a lot to them. You can see the joy in their faces. Despite what they are going through, they are still very happy and relevant in society,” he said. 

One of the widows at the event, Mrs. Felicia Ugwunwanne thanked Heritage Bank and WOSSA for their continuous support to the widows and less privileged. 

She said that WOSSA is through the support of partners such as Heritage Bank, making life better for the widows and their children. 

“The WOSSA has for years, been assisting so many of us, including our children and orphanages. WOSSA gives us cash, help some widows to pay their house rent, school fees for widows’ children, among other things,” she said.

Ugwunwanne said the widows under WOSSA are being trained for skills acquisition to improve the quality of their lives.

“I am aware that the WOSSA is working on securing loans from Microfinance Bank, and we have completed forms to achieve the purpose. Our members are prepared to access the loans. Some of the widows have gone to learn some skills that will enable them to invest and succeed in whatever craft or business they are doing so that they will not continue to depend on people,” she said. //END.//

Ozena Utulu, Ag. Group Head, Corporate Communications