Echoes of The Achievements of Ifie Sekibo, CEO Heritage Bank Nigeria

A man who believes no man is done until he has left something behind that defies time. The echoes of his achievements still reverberate in the insurance sector.

The MD/CEO, Heritage Bank Nigeria, Mr Sekibo is a thorough-bred alumnus of the renowned Harvard Business School OPM class (2006-2009) and Fellow of the Institute of Chartered Accountants of Nigeria (2002) with over two decades professional work experience spanning across the financial services and energy sectors.

He is a tenacious Entrepreneur, passionate game changer and result oriented professional with a proven track record in turn-around management.  These attributes consistently drive his vision to lead tenacious teams which mobilize strategic investments and capital injection to resuscitate and restructure moribund Companies to the path of sustained profitability.

In 2003, he led a team which acquired Global Assurance Company Limited, previously under the technical management of the National Insurance Commission. As Executive Vice Chairman, he steered the new institution, International Energy Insurance (IEI), which emerged as a frontline Insurance Company in Nigeria, undertaking a successful capital raise and listing on the Floor of the Nigerian Stock Exchange.

Again in 2009, he led another team of professionals which nurtured the re-birth of the erstwhile Societe Generale Bank which was transformed to an Innovative Commercial Bank with Regional Authorization  called Heritage Banking Company Ltd where he served as the pioneer Managing Director/CEO.

Mr Sekibo  passion and relentless drive for turn-around management  is further evidenced by the recent successful acquisition of Enterprise Bank Ltd, to create a bigger, better and stronger Heritage Bank Ltd following rigorous and novel regulatory approval processes leading to the dissolution of the erstwhile Institutions comprising HBCL & EBL to birth the New Bank.

Mr. Ifie Sekibo, the bank’s Managing Director, at inception did state the way the bank wanted to go. According to him, “We re-capitalized to the tune of N12 billion, took up all liabilities and assets of the defunct SGBN and found some form of accommodation for depositors whose money has been trapped for over 10 years. Our vision is simple and clear; today, we might look quite new in the market, but our idea of what this bank should be is clear from day one.

We want to be a bank that people will believe and we want to lead in the knowledge that generation banking is the way to go”. Heritage Bank’s thirst for unique customer satisfaction, not only financially, but in other ways, started shortly after its operations began. This became evident as it commenced a zero COT offering to its clients from April 15, 2013. The bank’s offering of zero COT implies that there shall be no hidden charges in transactions.

Consequently, this huge selling point would boost the bank’s goodwill, customer trust and deposit base. Heritage Bank’s sponsorship commitment in the areas of Small and Medium Enterprise (SME) development, sports, entertainment, charity and advocacy also stands out. Through its unique SME Support Platform, the bank, in 2014, raised the bar in the efforts to deepen the SME culture in the country.

Mr Sekibo is a valued member and Fellow of a number of Professional Institutes including the Institute of Directors; Institute of Petroleum, London; Nigerian Institute of Management; Chartered Institute of Bankers of Nigeria.