Heritage Bank partners NEFF on prevention of e-fraud

[vc_row][vc_column][vc_column_text]Heritage Bank Plc, Nigeria’s most innovative banking services provider, has partnered with the Nigeria Electronic Fraud Forum (NEFF) on the prevention of fraud in the Nigerian banking system. The MD/CEO of the bank, Mr. Ifie Sekibo said at unveiling of the 2017 NEFF annual report in Lagos recently that the bank was very proud of successes recorded by the forum, remarking that the advent of the forum has undoubtedly created revolutionary effect in the conception of banking services in the industry.


Sekibo who was represented by Mr. Ike Williams, Executive Director, Services and CIO of Heritage Bank said financial institutions in the country had exploited these successes to introduce innovative banking products, especially e-products. He said Heritage Bank would continue to support the forum and advised NEFF not to rest on its oars. The Heritage Bank helmsman also commended Mr. Adebayo Adelabu, the out-going deputy governor of the Central Bank of Nigeria (CBN), operations as an exceptional leader who made invaluable contributions to the success of the forum, remarking that it will be difficult for any to surpass the achievements he recorded for the forum.


While unveiling the NEFF 2017 annual report, titled Tightening the Belt of e-fraud Prevention: A 4 sided approach, Adelabu, noted that in an environment that has witnessed fast-paced growth in both volume and value of electronic transactions, it would not be out of the ordinary if fraud attempts are also on the increase. Adelabu who was represented by Mrs. Tokunbo Martins, Director of other Financial Institutions Department of the CBN added that a true test of resilience security and strength of a payments system is where losses were minimized, and measures taken to learn from those losses to forestall a recurrence. According to him, in the last six years of the forum existence, NEFF has consistently acted as a catalyst in the formulation of cohesive and effective fraud and risk management strategies. He said the forum has contributed to a year on year reduction in actual losses from e-fraud as reported by the Nigeria Inter-Bank Settlement System Plc (NIBBS), which accounted for the 25.71 percent in actual loss value in 2017 when compared to actual loss figures for 2016. Adelabu also commended for its decision to focus on fraud mitigation by engaging all stakeholders from banking, other eco system players, law enforcement agencies and telecommunication operators which has been put together to form the acronym BELT, from which collaboration should be tightened always.

In her contribution, Mrs. Christabel Onyejekwe, Executive Director, Technology & Operations, NIBBS, said the organization has been adding value to the eco-system through the deployment of electronic banking and formulation of measures to monitor fraud. She said NIBBS would continue to collaborate with other stakeholders in the continued effort to reduce e-fraud in the system.[/vc_column_text][/vc_column][/vc_row]

Akinola George-Taylor, Managing Director of Heritage Bank Plc, and his Team, paid courtesy visit yesterday to the Governor of Lagos, Babajide Olusola Sanwo-Olu, at the State House, Alausa yesterday.

The Managing Director of Heritage Bank, Akinola George-Taylor has disclosed that the bank would continue to increase the wallet of its business transactions with Lagos state government.  

He gave this assurance yesterday when he led a team of the bank on a courtesy visit to the Governor, Babajide Sanwo-Olu at the government house, Alausa, Ikeja.

George-Taylor commended Sanwo-Olu’s administration, whilst aligning with the great works in Lagos State.

“We are here to introduce ourselves as the new management of the Heritage Bank and being that we have had a relationship with the state (Lagos) for a number of years now, we felt it was necessary to come and present ourselves to the Governor; to say thanks for the business that we enjoyed with the government and that we align and commend the great work he is doing for Lagos State.

“And of course, as bankers, we want to try and increase our own size of the wallet of the business that we do with the government and to extend our best wishes to him and his government. It was a courtesy call to say thank you and wish him well in the next coming elections,” he said.

Speaking earlier, the Governor, Sanwo-Olu said his administration was poised to do more as it continued to play its roles in providing an enabling environment, improving the ease of doing business and being forward-looking in its dealings with financial institutions.

The governor also said that his administration will continue to ensure a mutually beneficial relationship with financial institutions in the State.

He said: “Lagos is the Centre of Excellence and the commercial, economic nerve centre, so we cannot but ensure that we have a very forward-looking mutually beneficial relationship with all of our financial institutions and of course, Heritage Bank is not an exception.

“I want to implore you and your team to be intentional and think something fresh; think something different that can indeed stimulate us. You can rest assured that we know how important it is to spread our businesses and to ensure that everybody gets a part of it knowing that you and your staff will also have a corporate responsibility on the Personal Income Tax component. It is expected that we will continue to play our roles and play our parts.”

Governor Sanwo-Olu congratulated the Managing Director and his new team on the huge and great responsibilities that shareholders and other stakeholders in Heritage Bank have reposed in them,” he said.