17 November 2012

Nigeria: SGBN to Conduct Verification of Customers

Ahead of its resumption of full banking operations, Societe Generale Bank of Nigeria (SGBN), now Heritage Bank of Nigeria Plc will soon embark on the final verification of its customers nationwide.

Central Bank of Nigeria (CBN) had in 2002 withdrew the licenses of SGBN and Savanna Bank. The management of the two banks however went to court and got an order for the restoration of their licenses in 2010.

But speaking in Dutse, Jigawa state Thursday at the on-going 2012 FICAN workshop, Nigerian Deposit Insurance Corporation (NDIC)'s director, Insurance and Surveillance department, Z.A Anate said SGBN would soon conduct a second customers' verification exercise, while appealing to its customers to support the bank by providing information that would help it conclude its verification on time.

He urged customers to exercise patience as the bank would soon open for business.

He also said NDIC had granted Societe Generale Bank of Nigeria (SGBN) regional banking operation license under a new name, Heritage Bank of Nigeria Plc.

On Savannah bank, Anate said the bank is following the trail of SGBN and that it would soon open for operation.

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