Heritage Bank MD, Ifie Sekibo ‘In Trouble’ As Staff Storm Senator Uba’s Residence Over Massive Debt

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Some staff of Heritage Bank led by Ifie Sekibo (who wasn’t on sight) have stormed the residence of Senator Andy Uba over undisclosed debts acquired by the Anambra politician.

According to a video cited by Brand Spur Nigeria, Heritage Bank staff were seen at the Abuja residence of the serving senator carrying placards with some inscriptions asking the senator to pay his debts.

 

As seen in the above video, one of the bankers at the scene said they were appealing to the former senator to “kindly pay this money so that these people will not lose their job.”

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“Senator Andy Uba has been owing the bank for a couple of years now, and we are here for a very peaceful meeting with him to ask him to repay those loans because those are depositors funds,” the unidentified staff said in a recorded video from the scene.

Heritage Bank MD, Ifie Sekibo 'In Trouble' As Staff Storm Senator Uba's Residence Over Massive Debt-Brand Spur Nigeria
Heritage Bank MD, Ifie Sekibo ‘In Trouble’ As Staff Storm Senator Uba’s Residence Over Massive Debt-Brand Spur Nigeria

“And those monies, if not repaid, will throw the number of people you see here with their families out of work. And you know the situation of the economy now.”

Efforts to verify the exact debt acquired by Senator Uba proved negative as Heritage Bank and the Asset Management Corporation of Nigeria (AMCON) refused to comment when contacted.

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Some financial institutions in Nigeria, like Heritage Bank, are known to experience difficulty in recovering loans to businesses and private individuals.

In 2020, the CBN took a step ahead of the defaulters by allowing banks to seize funds in the accounts of loan defaulters to protect depositors.

Also, the Senate recently passed a bill that strengthened the power of AMCON to recover bad loans by allowing it to seize and sell properties traced to debtors, whether or not such assets are used as security/collateral for obtaining the loan in question.

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