Heritage Bank in showdown with Andy Uba over loan recovery

Andy Uba

The management of Heritage Bank Plc has backed its staff that protested at the Abuja residence of Senator Andy Uba on Monday over alleged indebtedness.

The video of the protest went viral. In it, one of the protesters said, “We are at the Abuja residence of Senator Andy Ubah for a peaceful meeting because he has been owing the bank for a couple of years now.”

The bank’s managing director Ifie Sekibo in a memo urged the staff to remain unfazed.

Mr Sekibo said the bank did not deliberately put the staff’s action on social media but the development is part of the bank’s effort to prioritise the recovery of all its outstanding loans.

He stated, “Consistent with our strategic business objective, we had prioritized the recovery of all outstanding loans owed the bank, with the clear intent to bring same in conformity with agreed levels. Consequently, the recent visit of our colleagues was in line with our objective and solely to address the indebtedness of the customer.

“I encourage us all to be bold and tenacious, fiercely engaging the market and refusing all forms of intimidation, which the current phase may present.”

However, national chairman of Zenith Labour Party (ZLP) Dan Nwanyanwu faulted the method adopted by the bank to recover the alleged loan owed by Uba.

He described it as “grossly irresponsible and against the ethics and ethos of the banking profession.”