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IMG_1271N4.2bn Transaction: Keystone Bank denies owing ITF N23.5 million

Keystone Bank Limited has refuted allegation by Industrial Training Fund (ITF) and the House of Representatives Public Accounts Committee (PAC) that it is owing the agency N23.5 got million being an accrued interest sum from a N4.2 billion transaction. The Deputy Chairman of the Public Accounts committee, Rep Ibrahim Baba (APC, Bauchi) and ITF’s Director-General, Joseph Ari had accused Keystone Bank of moving money thrice from ITF’s account domiciled in… Continue Reading

IMG_1239UBA Strengthens Brand Afiliation on Nigerian Campuses , Unveils 15 Ambassadors

The United Bank for Africa (UBA) Plc Friday launched the maiden edition of its Campus Ambassador Programme with the induction of the first 15 brand ambassadors. The UBA Campus Ambassador Programme is an initiative to identify young emerging leaders among students of tertiary institutions and give them a unique and highly rewarding learning experience. The 15 successful candidates were selected from among 200 students across tertiary institutions in Nigeria through… Continue Reading

img_1119Massive withdrawal hits banks…as depositors withdraw to finance MMM

Just as many Nigerians are trooping in their millions into the MMM scheme and making millionsof Naira every day, others who are not already into MMM have joined other money-spinning Ponzi schemes like Winthrills ,Ultimate Cycler, Givers Forum,Crowd Rising and many others; but the negative effect of this fast money-making schemes is now being felt by all the Nigerian banks and they are now very jittery because the schemes may… Continue Reading

RECESSION : BANKS TO SACK THOUSANDS!!!

The die is cast. The reality sets in.There is tension in the land.The largest economy in Africa is in deep recession and the attendant effects of the development on various sectors of the economy is beginning to hit home as the banking industry -one of the biggest sub-sectors in the country – is set to embark on a massive and unprecedented retrenchment of its workers. Global News can now authoritatively… Continue Reading

img_0542: AfDB and United Bank for Africa Plc sign US$ 150 million Line of Credit

The African Development Bank Group (AfDB) and United Bank for Africa Plc (UBA) on Wednesday November 30, 2016, signed a US$ 150 million loan agreement to finance infrastructure and SME projects, including women-owned enterprises in Nigeria. “The Fund will support development of productive sectors of the economy; particularly the power sector, Infrastructure, Women owned enterprises as well as SMEs. This line of credit comes at an opportune time and would… Continue Reading

img_1044UBA CFO, Finance Team Shine at CFO Awards

Pan-African financial services group, United Bank for Africa Plc repeated the outstanding feat, it recorded last year at the 2nd edition of Nigeria CFO awards, with a notch higher when its Group Chief Finance Officer (Group CFO) and the Finance Team bagged the treble at the awards night held on November 19, 2016 at Oriental Hotel, Lekki Lagos. The bank won the following awards; CFO of the Year; Financial Innovation… Continue Reading

img_1034UBA Wins best CSR Company in West Africa

Pan African banking Group, UBA has emerged the best institution in Corporate Social Responsibility (CSR) in West Africa. Its CSR arm; UBA Foundation won the best CSR/Sustainability, West Africa Award at the 10thSERAs (Social Enterprise Report Awards) ceremony which held at the Muson Centre in Lagos Nigeria on Friday November 11, 2016. UBA Foundation, beat other nominees in its category, including; Lafarge, MTN, Nestoil, P&G, Exxon Mobil and Shell to… Continue Reading

img_1025Access Bank Grows Q3 Profit to N72bn

Access Bank Plc has announced animpressive profit of N72 billion for the nine months ended 30 September 2016 basedon enhanced business efficiency as a result of the effective execution of its long-termstrategy. The Bank’s Profit Before Tax (PBT) showed an increase of 19% from N60.4 billionrecorded during the same period in 2015. Profit After Tax (PAT) grew by similar marginfrom N48.1 billion in 2015 to N57.1 billion in 2016.Access Bank… Continue Reading

kennedy-uzoka-official-potraitUBA Wins Big at Finacle Client Innovation Awards

United Bank for Africa has continued to receive accolades and global recognition for its commitment to the use of cutting-edge technology to provide simple and convenient banking solutions and services to its customers. The pan African banking Group was adjudged winner in two categories at the recently concluded Finacle Client Innovation Awards 2016, organised in India by Infosys Limited; the corporation that provides business consulting, information technology and outsourcing services… Continue Reading

imageANOTHER DIAMOND BANK STAFF IN PRISON OVER N24M FRAUD

The Federal High Court in Ikoyi, Lagos has ordered that a former Manager of Diamond Bank Plc., Chinedu Oguike, be remanded to prison custody over a N24 million fraud charge. Justice Abdul Aziz Anka gave the ruling on Tuesday when the defendant was arraigned by the Police Special Fraud Unit for a three-count charge bordering on conspiracy, obtaining money under false pretense, and advance fee fraud. CSP Effiong Asuquo, the… Continue Reading

UzokaUBA SUSTAINS STRONG ASSET QUALITY AND PROFITABILITY; PROPOSES N0.20 INTERIM DIVIDEND

United Bank for Africa Plc (“UBA” or “the Bank”), announced its Audited 2016 Half Year Financial Results for the period ended 30 June 2016 showing the bank recorded gross earnings of N166 billion, net operating income of N109 billion and profit before tax of N40 billion. The bank also recorded a significant growth in total assets, rising 20% to N3.3 trillion, crossing the three trillion mark. Following the sterling performance,… Continue Reading

Outgoing GMD/CEO, UBA Plc Valedictory Lecture Speaker, Mr. Phillips Oduoza and  Professor Segun Ajibola, President, Chartered Institute of Bankers of Nigeria(CIBN);  at the 4th Valedictory Lecture in honour of Phillips Oduoza, organised by CIBN in Lagos on FridayUBA’s GMD Calls For Closer Collaboration Among African Central Banks

Outgoing Group Managing Director of pan-African banking group, United Bank for Africa (UBA) Plc Mr Philips Oduoza has called for increased collaboration among African central banks in order to drive intra-African trade on the continent. He said this on July 22, 2016 when he delivered the fourth Valedictory Lecture of the Chartered Institute of Bankers of Nigeria (CIBN) on the topic “The Emergence of a Nigerian Pan-African Bank” to a… Continue Reading

imageUBA, MasterCard announce Pan African partnership

…Five year deal across 19 markets focused on driving financial inclusion in Africa United Bank Africa (UBA) and MasterCard have announced a partnership which will see UBA act as the issuer for MasterCard in 18 new markets in Africa. The partnership which came into effect in the second quarter of 2016 will see UBA issue MasterCard credit, debit and prepaid cards across these markets. The partnership will also focus on… Continue Reading

UzokaFitch Affirms UBA’s Viability Rating as Agusto Upgrades Rating to “Aa”

….as UBA stock now best performing on the exchange Fitch International, one of the foremost global rating agencies has affirmed United Bank for Africa (UBA) Plc’s viability rating at “B”, as the pan-African banking group continue to sustain its benchmark asset quality and strong profitability amidst industry and macroeconomic challenges. UBA is one of the few banks with strong risk management framework, which has helped keep non-performing loans ratio at… Continue Reading

imageCBN HAMMER ON SKYE BANK: WHY EXPERTS ARE WORRIED

Financial industry watchers have continued to ponder over the sudden resignation of the key Board members of Skye Bank and the appointment of new ones by the Central Bank of Nigeria and the verdicts of top level bankers is that the development portends a dangerous and disturbing signal for the financial industry. A senior management staff of one of the first generation money deposit banks who expressed worries in an… Continue Reading

imageElumelu, Adesina, Graca Machel To Co-Chair World Economic Forum In Kigali

Leading African businessman and philanthropist Tony O. Elumelu; Akin Adesina, President of the African Development Bank; Graca Machel, former first lady of Mozambique and widow of Nelson Mandela; Phillipe le Houerou, CEO of the International Finance Corporation and Tarek Sultan Al Esso, CEO and Vice Chairman of the Board Agility have been slated to co-chair the 26th World Economic Forum on Africa that will be held from 11th-13th May, 2016… Continue Reading

imageAccess Bank hosts 2016 Innovation Challenge

In line with its corporate strategy of developing innovative solutions that drive economic development, Access Bank Plc hosted an innovation challenge where several ideas were pitched by participants with a view to finding solutions to problems in agriculture, transportation, security and power. The Access Bank Innovation Challenge is a competition that invites teams of contestants to develop innovative solutions to Nigerian societal, infrastructural and environmental challenges, and provides them with… Continue Reading

imageRed Alert: FCMB, Wema, Fidelity, Union Banks Now Distressed

The prevailing economic downturn in the country is taking its toll on all the sectors of the economy as players in the various segments of the Nigerian economy are all feeling the negative impact of this harsh realities. And with the banking sector actively involved in the monetary operations of the economy, Global News can authoritatively reveal that four Nigerian banks are now distressed. These banks that are said to… Continue Reading

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