Following outstanding performance and leadership in Nigeria sustainable development in 2017, the Central Bank of Nigeria (CBN), honored Heritage Bank Plc, Nigeria Sustainable Award. The Award is tagged “For Sustainable Transaction of The Year in Agriculture.”
The award which was presented to the bank, in recognition of its landmark and leadership in Nigeria’s sustainable development in 2017, during the recently Bankers Committee summit held in Lagos.
The MD/CEO, Heritage Bank, Mr. Ifie Sekibo, in appreciating the award said that they are highly honoured to be awarded by the regulator, as one of the most supportive financial institutions to the Agric sector, which is a key sector of the economy, and it validates the hard work and success story of the bank to create, preserve and transfer wealth across generations.
He further explained. “Heritage Bank has continued to compliment the efforts of the CBN, by making funds available to both individuals and corporate organizations, in their efforts to increase agricultural output.
He also said that the financial institution has been in the frontline in financing agricultural projects in some states in the country, especially in Zamfara, Kaduna and Oyo States.
“The Award is in recognition of what we are doing with Biase Plantations Limited (BPL), a subsidiary of Wilmar International, in supporting Palm Oil industry and Triton Aqua Africa Limited (TAAL), involved in agriculture and reforestation projects.”
“Being a bank with sustainability as part of our DNA, our relationship with BPL that has sustainability as one of its core values provides a natural fit. The project is being implemented in full compliance with all relevant national legal requirements in Nigeria, following best international management practices, including compliance with requirements of the Roundtable on Sustainable Palm Oil (RSPO).”
Olugbenga Awe, Group Head, Agriculture Finance, Heritage Bank Plc, explained that the bank is currently executing an Out growers Scheme, that is sustainable, fair, adapted to the local context and that will positively impact on the lives of the rural poor.
“The objective of the Out growers Scheme is to improve the livelihood of rural persons, increase the product supply of the fresh fruit bunches (FFB) to BPL and to help close the palm oil deficit in the Nigerian market, with the commitment to the No Deforestation and No Exploitation policy.” He said.