Heritage Bank Nigeria Owner and Management Structure

Heritage Bank Nigeria is a leading financial institution in the country, with a strong management structure that has contributed to its success.

The bank's owner is Ifie Nwunna, who is the Chairman of the bank's board of directors.

Heritage Bank Nigeria has a robust management team, led by Ifie Sekibo, the Managing Director and Chief Executive Officer (CEO) of the bank.

The bank's management team is responsible for overseeing the bank's operations, strategy, and growth.

The Chairman and CEO work closely together to make key decisions and drive the bank's vision forward.

Heritage Bank Nigeria's management structure is designed to ensure the bank remains focused on its core values and goals, while also adapting to changing market conditions.

Heritage Bank has a rich history that spans over four decades. The bank was founded in the late 1970s as Societe Generale Bank (Nigeria) by the late Dr. Olusola Saraki.

The bank's journey took a significant turn in 2006 when the Central Bank of Nigeria closed it down due to failure to meet new minimum capital requirements. However, the bank successfully challenged the closure in court.

In 2012, the Central Bank re-issued Societe Generale's banking license, but as a regional bank. The bank was re-branded as Heritage Banking Company Limited and opened for business under the new name in 2013.

Heritage Bank was founded in the late 1970s by the late Dr. Olusola Saraki as Societe Generale Bank (Nigeria).

It was initially closed down in January 2006 due to failure to meet new minimum capital requirements of US$155 million (NGN:25 billion) for a National Bank.

The Central Bank re-issued Societe Generale's banking license in December 2012, but as a regional bank.

This led to the new ownership re-branding the bank as Heritage Banking Company Limited and opening for business under the new name on 4 March 2013.

Heritage Banking Company Ltd successfully met the requirements of the Asset Management Corporation of Nigeria (AMCON) and the Central Bank of Nigeria toward owning 100% shares in Enterprise Bank Ltd in October 2014.

On 27 January 2015, AMCON officially transferred ownership of Enterprise Bank Ltd to Heritage Bank Plc.

Heritage Bank has a rich history, and we're excited to share some of its key milestones with you.

The bank's journey began in 1997 with the launch of Heritage Building Society, which marked the start of its growth into a major financial institution.

In 2002, Heritage Building Society converted to a bank, and the name was changed to Heritage Bank Limited.

Heritage Bank has a strong presence in Queensland, with over 80 branches across the state, making it one of the largest regional banks in Australia.

The bank has also expanded its services to include online banking, mobile banking, and a range of financial products for personal and business customers.

In 2010, Heritage Bank merged with Bank of Queensland, but maintained its independence as a regional bank.

Heritage Bank has been recognized for its commitment to customer service, winning several awards for its online banking platform and customer satisfaction.

Heritage Bank's ownership is publicly disclosed, with key stakeholders including Heritage Investment Services Limited, Priority shareholders, and Other minority shareholders.

Heritage Investment Services Limited holds the largest stake, with an impressive 80% ownership as of September 2013.

The bank's leadership is equally impressive, with Akinola George-Taylor appointed as Acting Managing Director in 2022.

George-Taylor brings over two decades of experience in managing multi-billion Naira operations and has held various positions in different business sectors.

The bank's new leadership team includes Osepiribo Ben-Willie and George Oko-Oboh as Executive Directors, both with extensive experience in the banking industry.

Here's a breakdown of the bank's ownership structure:

Heritage Bank Plc's ownership structure is dominated by a single entity, Heritage Investment Services Limited, which owns 80% of the bank's stock.

Heritage Investment Services Limited holds the largest stake in the bank, with a significant majority of shares.

Priority shareholders own 9% of the bank's stock, a notable but smaller portion compared to Heritage Investment Services Limited.

The remaining 11% of shares are held by other minority shareholders, making up the final piece of the bank's ownership puzzle.

Here's a breakdown of the bank's ownership structure:

Heritage Bank has appointed Akinola George-Taylor as its acting Managing Director.

Akinola George-Taylor has over two decades of experience in the banking and financial services sector and a proven track record in managing multi-billion Naira operations.

He started his banking career in 1993 with GTBank and rose to the position of Executive Director in charge of Public Sector Group, Abuja & North Central.

Osepiribo Ben-Willie and George Oko-Oboh were also announced as Executive Directors, bringing their combined experience of over four decades in the banking industry.

Osepiribo Ben-Willie is currently the Directorate Head South-South, South-East & Private Wealth Management Team in Heritage Bank Plc, and has worked in various banking institutions, including Credite Bank Nigeria Limited, Diamond Bank, Zenith Bank, and Stanbic IBTC.

George Oko-Oboh currently heads the Abuja and North Directorate Business of Heritage Bank Plc, where he plays a pivotal role in the business growth and daily operations of all businesses and transactions.

The newly appointed Acting Managing Director and his team of Executive Directors commenced their respective tenors on Monday 12th September 2022.

Akinola George-Taylor will be overseeing all of Heritage’s banking operations across Nigeria, following the receipt of the approval of the Board of Directors of Heritage Bank and the Central Bank of Nigeria.