Quiet but deft hand at his trade, Ifie Sekibo and his Heritage bank team have finally acquired on sale financial institution, Enterprise Bank.
This development is courtesy of the payment of the stipulated 20% of the N56b winning bid ahead of deadline day.
Here is how societynowng.com hit town with development
'This is a news break.
Heritage Bank,the financial institution led by sharp mind - Ifie Sekibo has finally acquired on sale banking entity, Enterprise.
Deep inside sources confirmed the management of Heritage paidthe required 20% of the reported N56billion winning bid to take possession.
This comes 48hrs ahead of the stipulated deadline.
Heritage Bank had shrugged off competitors such as Fidelity Bank, Diamond Bank, Taunus Holdings, Sahara Group, Stanbic Ibtc, Standard Chartered Bank and other investment groups to emerge the preferred bidder by Asset Management Corporation of Nigeria (AMCON) which wholly owned the entity.
This offer to take over comes with a caveat - 20% of the bid must be paid within a stipulated period, or else the offer reverts to the second preferred bidder disclosed as Fidelity Bank.
Insiders however disclosed Ifie Sekibo and his team have fore closed such an occurrence by meeting initial terms of payment.
Further digs revealed a 'signing of takeover ' document is scheduled for tomorrow, Friday September 19 2014 in Abuja.
According to top level disclosure ' the ceremony is scheduled for 10.00 a.m at the NNPC Towers'.
This development perfects the open door of an expansion effort and enlarged operations initiatives - all things remaining positive - that are expected to take the buying institution beyond borders.
Sources further revealed the remaining 80% of the payment will be due in October based agreed terms.'