Court urged to wind up Heritage Bank over inability to pay bank guarantee

By Akin Kuponiyi Two Nigerian companies IHS Nigeria limited and INT Towers Limited have filed winding up petition against Heritage Bank Plc urging the court to wind up the bank on the ground that the bank is unable to pay a bank guarantee of $3million equivalent of N1.7 billion. According to the petition filed before a Lagos Federal high court by lawyer Moyosore Jubril Onigbanjo SAN,the petitioner stated that sometime on 17th of March, 2016, two companies executed an infrastructure Sharing Agreement ISA with NATCOM Development and Investment Company.

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