Nigeria’s Most Innovative Banking Service provider, Heritage Bank Plc and seven other banks have provided a total of N15.5billion to assist SCOA Nigeria Plc.
The #15.5billion is for the importation and supply of MAN Platform Trucks and equipment to Julius Berger Nigeria for the construction of 380km Abuja-Kaduna-Kano roads and many others across the country.
Heritage Bank exclusively availed SCOA Motors an Advance Payment Guarantee (APG) of N4.64 billion for the project, although, Zenith, Wema, UBA, Union, Unity, Coronation and Providus Banks complemented the global total sum.
According to the information made available to FASNEWS, the sum total covers for thirty-three (33) trucks and technological equipment.
For the first phase during the ceremony, sixteen (16) of the trucks were handed over to Julius Berger and the second phase of delivering will be executed next month,October.
Commenting on the official handover ceremony of state-of-the-art Man trucks and Wirtgen Equipment to Julius Berger Nigeria Plc, the MD/CEO of Heritage Bank Plc, Ifie Sekibo stated that the support efforts through project financing in the various sectors of the economy is one of the platforms that underscores the bank’s resolve and readiness to make a mark in the financial sector as a major pivot of socio-economic transformation of the country.
“The bank partnered to support SCOA Nigeria Plc for its long and outstanding presence in the automobile market, by retaining the cutting edge in their line of business. Heritage Bank’s philosophy is to support businesses to grow in their discharge of duties.
“For us at Heritage Bank, our core business philosophy as a timeless wealth partner to our customers is captured in our mission to create, transfer and preserve wealth.” Sekibo said.
According to Sekibo, the bank’s field of engagement of support has so far been diversified, covering economic sectors such as Micro, Small and Medium Enterprises, agriculture, entertainment and arts, education, oil and gas, aviation and haulage as well as the public sector.
Earlier in his address, the GMD/CEO of SCOA, Dr. Massad Boulos commended Heritage Bank and the other banks’ roles, as the transactions were made possible through their solid partnership.
“I will also thank Heritage bank, their Directors, MD; Unity Bank and other senior bankers official & the entire team of banks, they’ve worked closely together with us on this project, same with Providus Bank, they all have worked together tirelessly for the success of this project,” he said.
He stated further that the partnership is like no other, considering the parties involved especially, SCOA Motors and Julius Berger, in the official hand over of state of the art modern trucks for use on the road constructions’ equipment for the execution of the biggest and the most significant project in Nigeria; the Abuja/Kaduna/Kano express way.