SGBN, now Heritage Bank, commences operations today

SGBN, now Heritage Bank, commences operations today

*Inherited N21bn deposit base...* Core investor owns 80% shares, Saraki family holds 9%... Society Generale Bank which regained its operating license about three years ago will today open its doors for business. The bank will operate under a new name Heritage Bank. The shareholding structure of the new bank showed that 80 per cent of the new bank is owned by a core investor, 9 per cent by Saraki family (owners of SGBN) and the remaining g 11 per cent to depositors of the bank.
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‘Kidnap value?’ No need!

‘Kidnap value?’ No need!

BEING from AbiaState, I come from the Niger Delta. At least, that is what the legislation that established the Niger Delta Development Commission (NDDC) says, though those from the “True Niger Delta” (Rivers, Delta, Bayelsa and, to a lesser extent, Akwa Ibom) would laugh at those of us from Abia, Imo, Edo and OndoStates with the question: “How many oil wells do you have?”

Empower MSMEs to reduce unemployment – AMEN President

Empower MSMEs to reduce unemployment – AMEN President

President of the Association of Micro Entrepreneurs of Nigeria (AMEN), Prince Saviour Iche attributes the high rate of unemployment in the country to poor funding of Micro Small and Medium Enterprises (MSMEs). In this interview, he urges State Governments to release the Industrial Development Centres (IDC) in their state for industrial development. He said the Central Bank of Nigeria (CBN) should do a critical check on the activities of Microfinance Banks.

Tribalism – a barrier to progressive democratic dialogue

Tribalism – a barrier to progressive democratic dialogue

TRIBALISM is a barrier to progressive democratic dialogue in Nigeria. A few weeks ago, I wrote an article for Vanguard newspapers. The title was “Obasanjo says the darndest things.” In this article, I was generally critical of leaders who only understand Nigeria’s problems in retrospect.

MDRI: Operators yet to embrace retail insurance – Soladoye

MDRI: Operators yet to embrace retail insurance – Soladoye

Despite efforts by the National Insurance Commission, NAICOM, to deepen insurance penetration in the country, through its Market Development and Restructuring Initiative, MDRI, underwriters are still not embracing retail insurance.

Declining economic growth: Who is minding the store? – 1

Declining economic growth: Who is minding the store? – 1

The National Bureau of Statistics, NBS, one of the most efficient and least appreciated parastatals, in the country today, recently disclosed that “overall growth in real GDP in 2012 was 6.61 per cent, which is a decline from the 7.43 per cent recorded in 2011”. There are several inferences to be drawn from that statement alone. But, only two will be addressed here.

New Ondo CP warns criminals

New Ondo CP warns criminals

WORRIED by the spate of robbery and burglary in recent times in Akure, the Ondo State capital, the new Police Commissioner, Mr Patrick Dukumor, weekend, said henceforth, the state will no longer be friendly with criminals.

Killers of Kwara CP have murdered sleep – IGP

Killers of Kwara CP have murdered sleep – IGP

Barely 24 hours after he told Vanguard that he had served his country meritoriously and it was time to retire to serve his family, Kwara State Police Commissioner, Mr Chinwike Asadu, was murdered by assassins, Saturday night. His body was riddled with bullets 100 metres from his home after seeing off his guest.