House Of Representatives Threaten To Arrest Heritage Bank MD, Ifie Sekibo Over Undisclosed Accounts In The FG’s TSA.

Ifie Sekibo.
MD, Heritage Bank.

The Management of Heritage Bank, Nigeria’s new generation bank and its Managing Director, Mr. Ifie Sekibo have been summoned for the second time, by the House of Representatives committee investigating the Treasury Single Account of the Federal Government.


The Chairman of the Committee, Hon. Abubakar Danburam said that the Adhoc Committee had invited Mr. Ifie Sekibo and the management of Heritage Bank, together with Aso Savings to look into the level of implementation and compliance by the banks over the Treasury Single Account (TSA) policy of the government and these two failed to honour the invitation of the committee.

According to him, “As you can see, none of their management nor staff is here. Our independent investigations have revealed that contrary to what Heritage Bank submitted to us, they also have two undisclosed accounts in the TSA.”

“The one with Nigerian Export and Import (NEXIM) Bank has $104 million, while a second one with Nigerian Maritime Administration Safety Agency (NIMASA) has $46,000, yet again, there is another N21 billion, which also forms part of our enquiry and we want to know why they did not reveal those accounts to this Committee.”

“We hereby give the Managing Directors of Heritage Bank and Aso Savings the opportunity to appear before this committee at a date to be announced later. If they fail, we will then issue a warrant of arrest against them.”