Heritage Bank denies involvement in NPA’s N11.2bn fraud

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Facts have emerged absolving Heritage Bank Plc of any involvement in the alleged N11.2billion fraud perpetrated at the Nigerian Port Authority, as an investor of the bank disclosed that contrarily to reports, that there was no fraud in the account of NPA.

The source who preferred not to be mentioned, disclosed to our correspondent that the allegation was false as only a fraction of the agency’s fund was left in the bank’s portfolio, due to shortages of foreign exchange which delayed transfer.

According to the source, the scarcity of forex made it difficult to make the full payment, which the management of NPA was aware of.

The source, however, explained that the bank has fully complied with the Central Bank of Nigeria’s directive on the

Treasury Single Account for those belonging to all the Federal Government agencies, while on the case of the NPA, Heritage Bank has maintained a full disclosure policy of the industry, as the management of the authority were privy to their account information.

“Heritage Bank has been one of the strong adherents to Federal Government’s directive on the TSA. Hence, as a bank, we have not been involved in any cases of concealment or fraudulent treatment of funds belonging to NPA. Heritage Bank regularly receives Naira and US Dollar payments on behalf of NPA which are remitted to NPA’s TSA accounts with CBN.

“Also, it is necessary to make it clear to the banking public and those concerned that Heritage Bank has not in anytime concealed the said balance from the new management of NPA or CBN,” the source said.

Meanwhile, an investor, Alhaji Musa Misau chided those behing the allegation, over alleged attempts to de-market Heritage Bank with what he described as “false story,” concerning the ownership of the bank as alleged in the report that the bank was owned by the Saraki family.

Misau affirmed that the Sarakis have no share in Heritage Bank, as the statement was most mischievous and totally out of order.

“It is a glaring case of de-marketing and we have since drawn attention of the CBN to this,” he said.

He, however, described the bank as one of the nation’s healthiest and fastest growing banks, with a target of becoming an industry leader in the near future.

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