Heritage Bank Plc has revealed it preparedness to commence account opening with Bank Verification Numbers (BVN) for the earmarked 774,000 participants for the federal government’s SPW Programme throughout the 774 Local Government Areas.
The participants are to be paid an allowance of N20, 000 only, monthly and the programme is to kick off from 1st November 2020. A total of 129 LGAs have been assigned to Heritage Bank Plc.
The SPW is a post-COVID-19 poverty alleviation initiative approved by President Muhammadu Buhari and the Federal Ministry of State for Labour and Employment.
As part of the modalities of the programme, the six participating banks, Heritage Bank inclusive have been mandated to open accounts for all the beneficiaries and capture BVN. Also, a special feature form has been provided by the Federal Government to capture participant’s Bio-data for this exercise.
The Divisional Head, Corporate Communications, Fela Ibidapo disclosed that Heritage bank has prepared seamless process flow for the commencement of the BVN enrolment/ account opening documentation of the assigned shortlisted beneficiaries.
He explained: “For locations that the bank does not have physical presence, the agency banking team has engaged super agents to cover these areas and ensure smooth on boarding in such locations.”
He stated that Heritage Bank would adhere strictly to the beneficiary list forwarded to the bank from the federal government to avoid any infraction.
Ibidapo reiterated the bank’s success stories and legacies in similar exercises sustained through various entrepreneur schemes in the support for economic growth, which had always focused on dependable job-creating sectors, such as agricultural value chain (fish farming, poultry, snail farming), cottage industry, mining and solid minerals, creative industry (tourism, arts and crafts), and Information and Communications Technology (ICT).
The Minister of State for Labour and Productivity, Festus Kenyamo had allayed the fears of missing out from the registration by the beneficiaries, stating that it has gotten assurance from the banks that even in places where they have no physical presence or branch, registration centers would be provided; hence participants don’t need to travel far.
The minister said, ‘‘The banks assured us that even in LGAs where they don’t have branches, temporary registration centers would be opened in such LGAs so that the participants would not have to travel far to open their accounts”.