Heritage Bank refutes alleged N13bn fraud of money belongs to Oyo Govt against its MD and some staff

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The management of Heritage Bank plc at this weekend released a statement saying “Our attention has been drawn to a Newspaper publication and other online news on Sunday 27th August of an alleged N13billion fraud involving the Managing Director and other staff members of the bank of funds belonging to the Oyo State government.


The Management will want to categorically and unequivocally state that neither the MD – Mr. Ifie Sekibo nor any member of the management staff of the bank is being investigated by the EFCC on a N13billion fraud.


The statement further stated that contrary to the false report released by the  Newspaper and other online news platforms, the EFCC had informed the bank of an account (not related to OYO state government as likewise verified by the Punch Newspaper via the State’s Finance Commissioner) being investigated by the agency. Over the last week, the bank has fully cooperated with EFCC by providing various documentations and also presented its staff in this regard.

Management therefore finds it distasteful, unethical and unprofessional of these media houses to tarnish the image of Mr Ifie Sekibo – MD/CEO and the bank.


Sekibo 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

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