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UBA Offers Customers Unforgettable #Fun Summer Treat with ‘Fun Summer’

UBA Offers Customers Unforgettable #Fun Summer Treat with ‘Fun Summer’

 

Africa’s Global Bank, United Bank for Africa (UBA) Plc has assured customers of a memorable summer treat with the recent launch of exclusive benefits and discounts tied to its cards during this period.

Tagged, the #FunSummer campaign, customers are set to enjoy a wide range of privileges and savings between now and  the end of August 2023, and this service is open to all customers and non-customers of UBA.

Unveiling the campaign in Lagos, UBA’s Group Head,  Retail Products and Sales, Prince Ayewoh, said the bank, understands the relevance of the summer season to Nigerians who use their cards both home and abroad, online or in-store and has worked towards creating a value-driven campaign on how UBA Card holders can best achieve their desires this season and beyond.

He said, “We are thrilled to introduce our Summer Campaign, providing our esteemed customers with remarkable benefits through the UBA card. With our exclusive discounts on staycations and lifestyle services as well as subscriptions, we aim to enhance our customers’ summer experiences and contribute to their personal growth and well-being.”

 

“With the UBA card, customers gain access to an array of exceptional offers. For starters, customers can now enjoy a 5% discount when booking a staycation or availing other lifestyle services through the Aura by Transcorp hotel app,” he noted.

Ayewoh pointed out that UBA recognizes the importance of keeping children engaged and learning during the summer holidays, which is why UBA cardholders will be entitled to enjoy a special 10% discount on uLesson subscriptions, an innovative and interactive online learning platform.

 

“With uLesson, parents can provide their children with fun and educational content, enabling them to expand their knowledge and skills while enjoying their summer break, and so I urge all our customers and non-customers to take advantage of these offers and create lasting memories this summer,” he said.

The summer campaign will also see customers benefit from the use of the UBA Prepaid Cards – the UBA Dollar and Naira Prepaid Card or the Debit card which also comprises of Debit Card for a Naira account, Gold Debit MasterCard, Platinum Debit Mastercard and the Visa Dual Currency Debit Card (DCDC) all of which boast of an array of benefits.

The UBA card is accepted in over 210 countries of the world and is protected with second to none technology to ensure the security of all cardholders. Cardholders are encouraged to share their summer desires on UBA’s social media pages to qualify for amazing prizes.

For useful travel tips and content, customers are encouraged to follow the conversation on the UBA social media pages and campaign page. 

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees’ group wide and serving over 35 million customers globally.  Operating in 20 African countries and in the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

Second Pay Rise In 90 Days UBA Improves Staff Welfare in Quick Response to Rising Cost of Living

Second Pay Rise In 90 Days UBA Improves Staff Welfare in Quick Response to Rising Cost of Living

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has reaffirmed its commitment to prioritise the welfare of its staff and their families reflecting the current economic realities and its impact on living conditions.

To this end, the bank’s Board of Directors have announced the implementation of a cost of living adjustment for its staff effective immediately

The bank said that over the past few months, it has been closely monitoring the effect of the rising cost of living on its employees and recognises the importance of addressing these challenges proactively.

It is interesting to note that even when the bank had previously implemented cost of living adjustment for staff on October 1, 2021 and more recently on April 1, 2023, the persistent economic challenges faced by employees and the broader society as a whole, informed the unanimous decision to again implement another adjustment.

Also in line with its commitment to promote staff for excellent performance every year, UBA had in March 2023, announced the promotion of over 1,500 staff across Africa, and had also elevated close to 1,000 staff in 2022.

UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who made the announcement, said, “We are aware of the impact of recent economic policy pronouncements on prices and your capacity to meet your financial commitments to family and personal needs. As an organisation focused on the well-being of our people, I am pleased to inform you that the Board of UBA Plc has approved a Welfare Allowance for all employees.”

Alawuba explained that the decision to adjust the staff’s remuneration package once again demonstrates UBA’s unwavering commitment to maintaining the standard of living for its employees at a level that is commensurate with prevailing economic conditions.

“This move will serve to alleviate the financial burdens faced by our staff and their families, reinforcing the bank’s position as a responsible and caring employer,” he explained.

He took time out to appreciate the staff for their effort and dedication and hard work of its employees, which remains the bedrock of its success, as he noted that the bank recognises the critical role played by its workforce in navigating challenges and ensuring the continued growth of the institution.

“My profound appreciation to you for your commitment to our corporate goals and adherence to our core values, as demonstrated in our remarkable half-year 2023 results. By enhancing staff welfare, we aim to boost employee morale and foster a conducive and rewarding work environment that empowers employees to thrive both personally and professionally,” the GMD added.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees’ group wide and serving over 35 million customers globally.  Operating in 20 African countries and in the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

Fostering Equality and Empowerment: Wema Bank Gives Economic Lift To Employees

Fostering Equality and Empowerment: Wema Bank Gives Economic Lift To Employees

In the Nigerian banking industry, Wema Bank, Plc is widely acknowledged to be a leader in the realms of innovation and technology, and for constantly seeking to provide seamless financial services to its teeming customers, but is the financial powerhouse a champion of its employees’ best interests? Yes, the most recent testament to Wema’s commitment to establishing a thriving workplace culture is its announcement of a groundbreaking increase in salaries for its staff.
This momentous decision not only showcases the bank’s dedication to employee welfare and well-being but should also resonate deeply with its community as ripples of elation have been set off through the organization.
Wema Bank’s move to increase the salaries of its staff, especially given the current economic rigors, has undoubtedly struck a chord with employees. By addressing the financial needs of its workforce, Wema Bank is affirming its belief in the value of every individual’s contribution, regardless of their employment status; It is one which fosters a sense of belonging in its staff, ensuring that each member feels like an integral part of the bank’s success story.
Indeed, the impact of this salary increase bears more than mere numbers on a pay slip: employees are experiencing a renewed sense of motivation and dedication to their roles, knowing that their hard work is genuinely recognized and rewarded. There are new levels of morale, leading to enhanced productivity, improved teamwork, and reduced turnover rates. Significantly, Wema Bank is creating a more harmonious and dynamic work environment where the creativity and innovation for which it is acclaimed, flourish the more.
Wema Bank understands that its employees are its most valuable asset, and by providing a competitive and fair remuneration package, the organization aims to attract and retain top talents in the industry.
Wema Bank’s vision extends beyond its bottom line; with this salary increase for its staff, the bank expects the ripple effect of positive change to extend to the wider industry and world of work. Wema Bank’s unwavering support for its employees lies at the heart of this expected transformation.
Beyond financial incentives though, the bank provides ample opportunities to its workers for personal and professional growth by nurturing a culture of learning and development.
By setting a precedent for employee-centric practices, Wema Bank aims to encourage other financial institutions to prioritize the well-being of their staff through the establishing of similarly empathetic and compassionate working environments.
The economic upliftment of its workforce is further proof that Wema Bank is an organization that is attuned to the needs and peculiarities of every segment of its community. By paving the way for a more compassionate and people-focused industry, this Wema Bank initiative should leave an indelible mark on the world of banking and beyond.

2023 HALF YEAR RESULT: FBNHOLDINGS POST N206BN PRE-TAX PROFIT

2023 HALF YEAR RESULT: FBNHOLDINGS POST N206BN PRE-TAX PROFIT

FBN Holdings Plc, has reported a profit before tax of N206 billion for the half year ended June 30, 2023.

FBNHoldings disclosed the figures in its second-quarter statement released yesterday on the Nigerian Exchange.

The increase in second-quarter profits helped its half-year profit before tax to rise by 213% compared to N65.7 billion in the same period last year.

This is also the Bank Holding Company’s best half-year performance since it was listed on the Exchange.

A breakdown of the company’s impressive financial results shows that the bank’s two-quarters of outstanding performance means a profit after tax of N174.9 billion, which is a 228.3% increase from the N53.3 billion reported in the first half of the previous year.

The first half 2023 profit has also surpassed the N136.173 profit reported in the full year of 2022 (January to December).

The Group’s gross earning of N656.6bn represents a growth of 82.8% from the N359.2bn reported in the first half of the previous year. Al impressive records are Net interest income of N232.6bn, up 52.1% y-o-y (Jun 2022: N152.9bn); Non-interest income of N229bn, up 112.0% y-o-y (Jun 2022: N108.1bn); Operating expenses of N222bn, up 24.7% y-o-y (Jun 2022: N178bn).

Profit before tax of N188.8bn, up 214.6% y-o-y (Jun 2022: N60bn); Profit after tax of N174.9bn, up 228.3% y-o-y (Jun 2022: N53.3bn)

Total assets grew by 34.8% y-t-d to hit N13.6 trillion, Customers’ loans and advances (net) of N5.2trn, up 39.9% y-t-d (Dec 2022: N3.7 trn); and Customers’ deposits of N8.8trn, up 26.9% y-t-d (Dec 2022: N6.9trn)

The Group Managing Director, FBNHoldings, Nnamdi Okonkwo, while commenting on the results stated that: “FBNHoldings has continued to deliver a strong financial performance despite the complex operating environment, thanks to our reinforced foundations, deep market understanding, strong risk management and execution capabilities. On the back of this and in line with our focus of driving further improvement in revenue generation and profitability, the Group delivered strong growth in gross earnings and profit before tax resulting in N656.6 billion and N206.3 billion respectively, for the first half of 2023 financial year”.

He noted that the company will continue to focus on customer-centric innovations with strong transactional and digital capabilities supported by sound risk management practises to anticipate and creatively deliver products and services that delight the different customer segments that we serve.

While noting that the current operating environment remains challenging, he maintained that the company is confident of successfully navigating the terrain.

Commenting on the results, Chief Executive Officer of FirstBank (Commercial Banking Group), Dr. Adesola Adeduntan, added: “In the first half of 2023, FirstBank Group delivered the strongest financial performance in the almost 130 years of the Bank’s history; with solid business momentum, increased revenue, and excellent returns. The result reflects the continued positive impact of our strategy and the tremendous progress that we have made in growing and transforming the Group. The result also highlights the resilience of our business model, customer relationships and institutional capabilities”.

Access Bank Polo 2023: A Grand Affair for Education and Philanthropy

Access Bank Polo 2023: A Grand Affair for Education and Philanthropy

The annual Access Bank Polo and Charity event at the Guards Polo Club in Egham, Surrey was once again a remarkable gathering of royalty, diplomats, political leaders, the business community, and supporters of Access Bank. This prestigious event not only showcases the elite sport of polo but also serves as a fundraising platform to support underprivileged children’s access to quality education.
The Access Bank Polo event is held in partnership with the Fifth Chukker Resort, with the primary objective of empowering underprivileged children through education. The proceeds from the event go towards building the much-needed infrastructure and facilities, ensuring that these deserving children have the opportunity to dream, learn, and grow.
This year’s event witnessed an incredible milestone, with an astonishing 100 classroom blocks being pledged by generous contributors. This achievement is a testament to the unwavering commitment of Access Bank, its partners, and donors to make a lasting impact in the lives of underprivileged children. With these new classroom blocks, countless more children will have access to a safe and nurturing educational environment.
Since the inception of the initiative, over 80,000 children have already benefitted from the schools built as a result of the fundraising efforts. These facilities not only provide education but also serve as a beacon of hope for the future generations, inspiring them to aspire for a brighter future.
Access Bank takes great pride in being a driving force in championing equal education opportunities. The organization firmly believes that every child, regardless of their socio-economic background, should have the chance to thrive and succeed.
With the success of the Access Bank Polo event, Access Bank remains steadfast in its commitment to creating a world where every child has the opportunity to access quality education. The ongoing support and collaboration of its partners, sponsors, and attendees will continue to play a crucial role in changing lives and uplifting communities.
The Access Bank Polo with this noble Charity event has established itself as an extraordinary corporate event in London, bringing together influential individuals and organizations for a noble cause. The commitment to providing underprivileged children with access to education is commendable, and the results speak for themselves. With each passing year, more lives are transformed, and the potential for a brighter future becomes a reality for countless children. Access Bank’s endeavors are a beacon of hope, highlighting the power of collective efforts to make a meaningful difference in society.
In attendance His Majesty, Ogiame Atuwatse Ill, the Twenty-First Olu of the Warri Kingdom; Her Majesty, the Queen Consort of Warri Kingdom, Olori Atuwatse IlI; HH, The 14th Emir of Kano, Muhammadu Sanusi; Babajide Sanwo-Olu, Governor of Lagos State; Mosun Belo-Olusoga, former Chairman, Access Bank PIc (2015-2019); Dr. Ajoritsedere Awosika, former Chairman, Access Bank PIc (2019-2023); Paul Usoro (SAN), Chairman, Access Bank Plc and Chairman, Coronation Capital, Aigboje Aig-Imoukhuede; Herbert Wigwe, Group MD/CEO, Access Holdings PIc; Roosevelt Ogbonna, Group Managing Director, Access Bank Plc and Amaechi Okobi, Chief Brand and Communications Officer, Access Holdings Plc among other dignitaries.

Adron GMD Aare Adetola and Olori Aderonke Greets Ogun State First Lady, Bamidele Abiodun on 57th Birthday

Adron GMD Aare Adetola and Olori Aderonke Greets Ogun State First Lady, Bamidele Abiodun on 57th Birthday

The Group Managing Director of Adron Homes and Properties; Aare Adetola Emmanuel-King and his beautiful wife, Olori Aderonke Emmanuel-King has felicitated with the First Lady of Ogun state, Her Excellency, Chief Mrs. Bamidele Abiodun on the occasion if her 57th birthday today.

Via a statement signed by his Senior Special Adviser on Media, Aare Adetola appreciates the good work of her excellency as a mother in ensuring that Ogun state gets the very best in terms of women and children empowerment using her pet projects as a bait. He also extolled her for being a woman of virtues, a supportive wife who is passionate about development and a supportive mother who has made Governor Dapo Abiodun function optimally bringing peace and tranquility to their home.

Aare Adetola further said; “Our wives plays a pivotal role in our overall performance. If the house is not at peace, don’t expect Governor Abiodun to perform well but in the case of Mrs Abiodun, she has been a supportive wife and a dear mother to our state. She has prioritize health care, children education, women empowerment through her SHEVENTURE initiative and through philanthropy she has reached out to many downtrodden within the state. This has further proven that she is a mother indeed and she is worth celebrating on her birthday today. On behalf of me and my family, I want to wishing her many more years in good health and wealth. I also want to pray for more grace to be able to intensify the good works in putting our dear state on the map in women empowerment among other.”

Olori Aderonke also hailed Mrs Bamidele Abiodun, refers to her as a symbol of hope for womanhood. She also added that; Mrs Bamidele is a beacon of hope and also a woman everyman should always have beside them as a co-pilot in any journey. “Our First lady is a type of woman everyman should pray for. Her strength, resilience, prayers and positive energy has helped made things easier for our Governor in Ogun State. She is also a role model to many women with her heart of Gold. Celebrating her on her birthday today is a clarion call for all women across the county to emulate her and also be supportive to their husband in achieving their dreams. She has been a solid rock and I pray that; the power to remain strong and firm like a pillar, may Almighty God grant her. I also pray for Good life in health and wealth for her. Happy Birthday Your Excellency ma.”

Breaking: Lagos Assembly Demands Constitutional Amendment To Accommodate State Police

Breaking: Lagos Assembly Demands Constitutional Amendment To Accommodate State Police

The Lagos State House of Assembly on Tuesday held its first plenary since its inauguration with a call on the National Assembly to commence actions that would lead to the establishment of state police.

The House also called on Governor Babajide Sanwo-Olu to urgently equip the Neighbourhood Safety Corps of the State so that its personnel could effectively perform the task of community policing.

These actions, Speaker of the House, Rt. Hon. Mudashiru Obasa, said, would stem the increasing spate of insecurity in the country.

Dr. Obasa noted with concern, recent attacks on communities in some states of the federation with many citizens losing their lives and belongings.

Recalling some of the latest attacks, the Speaker said he read about the killing of some residents in Plateau State. He also noted the abduction of the Chairman of the All Progressives Congress (APC) in Ekiti State, Mr. Paul Omotoso.

Obasa said though the Lagos Assembly had consistently clamoured for the establishment of state police, it is an appropriate time for the Senate and the House of Representatives to begin an amendment of the Constitution to contain the creation of the alternative policing system.

“While I commend the ninth National Assembly for doing a lot to amend the constitution, there is a need for us to call on the 10th National Assembly to see it as a matter of urgency to make the issue of state policing a major factor of development,” Obasa said.

Supporting the Speaker, Hon. Gbolahan Yishawu, commended the Speaker for bringing up the issue of state policing again.

“We remember very well that it was you that sponsored the bill on Neighbourhood Safety Corps and we see what it has done for our State and how other states are copying it,” Yishawu said.

While noting that President Bola Tinubu started well with moves to rejig the economy, Hon. Yishawu said security remains at the heart of a country’s progress urging for more focus this area.

The motion was supported by other lawmakers who complained about the inadequate number of police personnel in Lagos and also suggested police reforms at the national level.

The lawmakers argued further that the establishment of state police would boost employment across the country.

Meanwhile, the House, through Speaker Mudashiru Obasa, has congratulated President Bola Tinubu over his election as Chairman of the Authority of Heads of State and Government of the Economic Community of West African States (ECOWAS).

The House said it believes in Tinubu’s capacity to bring the countries under ECOWAS to work together.

At the plenary, the House also resolved a report relating to issues of legislative compliance on appointment of some Governor’s nominees without approval of the House of Assembly. The lawmakers called on the Executive arm to henceforth act in conformity with the law.

Eromosele Ebhomele
Media aide to the Speaker.

Billionaire ‘Jite Okoloko, Ex-wife Fight Dirty over Multimillion Dollar Debt

Billionaire ‘Jite Okoloko, Ex-wife Fight Dirty over Multimillion Dollar Debt

Billionaire Oil Mogul, Onajite Okoloko, and his estranged wife, Salma Okoloko, are currently at war over outstanding contract debt his company, Eroton Exploration and Production Company is owing his wife’s company, Tectonic Oil Tools Limited (TOTL) for job executed for Eroton’s OML 18.

Court papers and documents detailing correspondence between both companies on one hand and between Tectonic and NNPC Limited (new owners of OML 18 oil field) showing that the original debt owed Tectonic by Eroton was $37million and N5.3 billion respectively has emerged

A letter from Tectonic dated April 6, 2023 and addressed to the Group Managing Director of NNPCL, said the money was for contract awarded Tectonic by Eroton dated May 1, 2016 for the provision of Coiled Tubings, Pumping, and Nitrogen Lift Services with contract No. EEP 16-0125.

The letter stated that TOTL has since executed the contract but is yet to be fully paid by Onajite’s Eroton.

It will be recalled that NNPCL took over operatorship of the OML 18 Asset from Eroton Exploration and Production Company. It was gathered that while NNPCL has duly paid Eroton all its dues, Eroton was yet to pay off TOTL the balance of $14 million and N2.9 billion for the said contract executed.

It was also gathered that following a court order, Eroton had in a letter dated 2nd July 2021, addressed to The Vice President Operations, Tectonic Oil Tools Limited, No 4, Okunola Martins Close, Off Awolowo Road, Ikoyi, Lagos, Nigeria, admitted to owing TOTL a balance “sums (net of taxes) of NGN 2,969,754,531.07 (Two Billion, Nine Hundred and Sixty Nine Million, Seven Hundred and Fifty Four Thousand, Five Hundred and Thirty One Naira, Seven Kobo Only) and USD 14,030,212.87 (Fourteen Million, Thirty Thousand, Two Hundred and Twelve United States Dollars and Eighty Seven Cents Only) due and payable to your company.”

The letter which detailed a Payment Plan to liquidate the debt owed TOTL by Eroton read in part: “We also recognize that some other claims have been submitted and confirm that same are currently undergoing verification and reconciliation. These additional claims would be included in the outstanding sums detailed above upon completion of the reconciliation exercise. The payment plan will be amended accordingly to include the additional claims and paid within the same time frame.

“In respect of the reconciled outstanding sums referenced above, please find below our payment plan,” the letter said.
While the letter listed how the outstanding debt will be paid between Q3 2021 and Q3 2022 for the N2.9 billion, it also listed how the outstanding $14 million will be liquidated between Q4 2021 and Q3 2022.

The letter signed by Ibironke Olaniyi, Chief Financial Officer (CFO) for Eroton Exploration & Production Company, ended with “Please be advised that we would notify you of the payments as they are made in line with the specified timelines and assure you of our highest regard.”
However, it was reliably learnt that despite the tone of camaraderie of the letter, Eroton has reneged on the payment terms and agreement.

“We are shocked that in spite of our mutual respect for and patience with Eroton, they have reneged on a mutually agreed payment plan which was the aftermath of a court order. We have laid our complaint with appropriate authorities including the NNPCL. We will use every legal means available to us to recoup our money,” a source at TOTL told our reporter.

Onajite and his wife, Salma, had been locked in a divorce drama. Onajite had filed for a divorce in 2020, threatening to send his wife out of their Florida (United States) home with their two kids.

But rather than filing for divorce in Florida where they got married and where he confirmed as his place of residence, he went to a court in Badagry, Lagos. The divorce case is currently at the Appeal Court.

Recall that NNPCL recently announced acquisition of Eroton’s OML 18 in what industry watchers said was a move to maximise productivity of the oil field which had suffered deep slump recently just before the acquisition

Tinubu Presidency: A Truly Renewed Hope – PRINCE DAPO ADELABU

Tinubu Presidency: A Truly Renewed Hope

– PRINCE DAPO ADELABU

The swearing in of Asiwaju Bola Tinubu as the 16th president of Nigeria on May 29th, 2023, brought a ray of hope that things would change for the better very soon. Nigerians were waiting with bated breathe to see whether or not the new administration would be a marked departure from what they had become used to – dashed hopes.

Happily, there are great signs that there is light at the end of the tunnel after all. In fact, the way it is going, we may not wait to get to the end of the tunnel to see the light, as there have already been flickers since the inception of the Tinubu administration, a very clear indication that things are turning around for good.

Putting it succinctly, going by the appointments so far announced by the Presidency, it is quite clear that Nigeria is on the march again. Square pegs are readily being fitted into the square holes, and round pegs are equally settling into the round holes.

A pattern is beginning to emerge in Mr. President’s choice of men to work with. He seems to be going for the best in their class. And this started with the list of the highly cerebral and internationally exposed special advisers, which include the likes of Mr. Wale Edun, Mr. Yau Darazo, Mr. Dele Alake and Nuhu Ribadu who has since resumed as National Security Adviser.

We saw yesterday what appears to be a monumental win for Nigeria if indeed Dr. Ali Pate is joining this government. Dr. Ali Pate is a world-renowned medical doctor and public health expert who has garnered awards and accolades from almost every health organization in the world, top of the pack being Harvard health leader, awarded him in 2012.

Dr. Pate had earlier served Nigeria in the capacity of minister state for Health. He was also the global director for Health, Nutrition and Population and Director of the Global Financing Facility for Women, Children and Adolescents (GFF) at the World Bank Group.

These are great signs of things to come and we are here, ready and eagerly anxious to celebrate our nation’s rebirth. Well done Mr. President.

– Prince Adelabu is an Abuja-based businessman.

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