EXCHANGE RATE: BAKERS MAY INCREASE PRICES OF BREAD

As car dealers groan THERE is the possibility of an increase in prices of bread any moment from now as members of the Bakers Association of Nigeria, Oyo State, chapter are set to meet next week following a major increase in prices of production materials. This was disclosed to Saturday Tribune by a member of the association, Mr Taiwo Samuel Titilola, in an interview. Titilola revealed that following the likely… Continue Reading

Reckless Wale Tinubu borrows money to save crumbling empire

In what will come as a rude shock to many Nigerians who knew him and his company’s networth, it appears the dark days are here for the boss of Oando Oil Plc Wale Tinubu, if what is filtering in is anything to go by. As you all know that Global News will always be the first to break the hottest news in the country and as you read this we… Continue Reading

Over 300,000 Nigerians will be jobless if foreign airlines leaves…..NANTAP President

The foreign airlines threatened to close shop in Nigeria due to the lingering forex crisis, the National Association of Nigerian Travel Agencies, NANTA has warned that the country travel industry is at the risk of losing over 300, 000 jobs. This is coming as anxiety continues to mount over the $591 million foreign airlines money trapped in Nigerian banks, which made difficult for foreign carriers to repatriate fund to their… Continue Reading

Tony Elumelu P​romotes Nigeria as top Investment Destination to the French Business Community

Serial entrepreneur, philanthropist and promoter of Africaptalism, Tony O. Elumelu on 27 May 2016, delivered an inspiring speech in Paris, France, selling Nigeria as an investment destination to the French business community. Elumelu, who is the Chairman of Pan-African banking group, United Bank for Africa (UBA) Plc and proprietary investment firm, Heirs Holdings delivered the speech as a guest speaker at the 1st ‘Colloque Nigeria’, a colloquium on doing business… Continue Reading

Fake oil baron Kola Aluko sells off $24.5m American mansion

The joke is on Kola Aluko right now; having scorned the subtle nudge of reason in prosperous clime, Kola could not foresee his doom and eventual collapse of his oil business. It is sadder that Jide Omokore, his partner and benefactor, for whom he fronts, cannot prevent the once profitable cash-cow from untimely death in the slaughterhouse of roguish economics and maladministration. As you read, Aluko, currently under investigation by… Continue Reading

Economy Crisis: Guinness Nigeria Plc Lays Off 500 Workers

The bitting harsh economy situations in the country has claimed yet another casualties in the foods and beverages sectors in the country with the recent laid off well over five hundred of there staff. The stay at home order cut across all the departmets ranging from junior and top management levels. Learnt that there has been palpable fear in the minds of the staff for sometime now. One of the… Continue Reading

Diamond Bank Of Fraud ….How It Is Defrauding It’s Customers Through Illegal Charges

There’s no doubt that Diamond Bank Plc is striving hard to be among one of the best banks in the country with theirservices that are people oriented. But while one will commend them on this, their customers are also groaning under the series of illegal deductions on their hard earned money. One of the customers who simply gave his name as Femi disclosed that the bank are not helping the… Continue Reading

UBA to expand footprint to 25 African countries

Group Chairman Elumelu reconfirms Africa network as strategic priority, pledges further capital for African growth The United Bank for Africa (UBA) Group recently held its first ever Senior Leadership Forum reflecting the strategic importance and growth potential of its pan-African business. UBA Group Chairman Mr. Tony O. Elumelu convened the Forum to review the impressive growth that the bank’s African network had made over the past 11 years and to… Continue Reading

UBA INAUGURATES GROUP BOARD FORUM

Following a 3-day Forum held in Lagos, Nigeria between April 6 & 8, 2016, United Bank for Africa (UBA) Plc Chairman Mr. Tony Elumelu formally inaugurated a Group Board Meeting as a platform for group integration, bonding and knowledge sharing. 90 participants comprising of the entire Board of United Bank for Africa PLC, Chairmen and CEOs of UBA subsidiaries in Africa and the United Kingdom, Group Strategic Business and Support… Continue Reading

Efficiency Gains Drive UBA’s First Quarter Profits To N18 Billion

Pan Africa financial services group, United Bank for Africa Plc has announced its unaudited results for the first quarter of 2016 showing gross earnings of N74 billion and profit before tax of N18 billion for the three months ended March 2016. The Group sustained its strong profitability, recording an annualized 20% return on average equity (RoAE). “I am pleased to report yet another impressive performance for the period. In addition… Continue Reading

UBA Rewards Staff At Annual CEO awards

It was an exciting evening on Saturday, April 9, 2016 as staff of pan-African financial services group, United Bank for Africa (UBA) Plc gathered at the Eko Hotel and Suites in Lagos, Nigeria, to celebrate the bank’s staff that have performed exceptionally well in the 2015 financial year. It is a tradition that the bank has maintained since 2008 and this was the eighth edition since its inception. As usual,… Continue Reading

UBA CHAIRMAN TONY O. ELUMELU PLEDGES INVESTMENT IN EASTERN NIGERIA

……….Calls For Regional Approachto development. During a keynote address at the 1st annual Enugu Investment Summit, Chairman of Heirs Holdings and United Bank for Africa Plc (UBA) Tony O. Elumelu presented a compelling case for a sub-regional approach to economic development for Eastern Nigeria. In doing so, he also pledged to invest more steadily in the region. Elumelu called on governors of the five South East states to harmonise economic… Continue Reading

United Bank for Africa(UBA) holds Annual General Meeting as Shareholders Applaud Performance

On Friday April 8, during the bank’s Annual General Meeting (AGM) which was held at the Eko Atlantic Hotel, Lagos, the shareholders of UBA applauded the UBA for its strong financial performance in 2015 despite the difficult operating environment globally. They also approved the board’s recommendation to pay a final dividend of 40 kobo per share. UBA had earlier paid an interim dividend of 20 kobo in September 2015 bringing… Continue Reading

TRANSCORP PLC RELEASES AUDITED FY 2015 CONSOLIDATED RESULTS, REWARDS SHAREHOLDERS WITH BONUS ISSUE

Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s foremost investment conglomerate has announced its audited 2015 Financial Results. The Group posted a profit before tax of N3.3bn for the period under review. Transcorp Group Operating Profit went up by 11% from N14bn in 2014 FY to N15bn. Its posted turnover of N40.8bn and profit before tax of N3.3bn in 2015 due to foreign exchange loss which affected the net results of… Continue Reading

TONY ELUMELU FOUNDATION ANNOUNCES 2ND ROUND OF TEEP2016

1,000 NEW AFRICAN ENTREPRENEURS JOIN $100M TONY ELUMELU ENTREPRENEURSHIP PROGRAMME The Tony Elumelu Foundation (TEF) announces the selection of 1,000 entrepreneurs for the 2nd round of the Tony Elumelu Entrepreneurship Programme (TEEP). Launched in 2015, TEEP is the largest African philanthropic initiative devoted to entrepreneurship and represents a 10-year, $100 million commitment, to identify and empower 10,000 African entrepreneurs, create a million jobs and add $10 billion in revenues to… Continue Reading

Africa’s Interior Design Star To Emerge On REDTV

Africa’s first interiors design show with a twist of reality TV is debuting on REDTV to discover Africa’s next Interior Design star. The launch of the new TV Reality show, tagged “Interiors By Design, was held at Angelika’s, Lagos’ choicest luxury home wares store, on Sunday, March 20, 2016 with notable names gathered from the worlds of design, finance, media and entertainment to celebrate REDTV, Glam Networks and the Interiors… Continue Reading

FY2015:UBA Grosses N60 Billion in profits, pays additional 40kobo dividend.

United Bank for Africa Plc; the pan African financial services Group with operations in 19 African countries has delivered another strong and impressive financial performance. In its Audited Full Year results for the year ended December 31, 2015, released to the Nigerian Stock Exchange (NSE) on Monday, the bank recorded a 10% growth in gross earnings, closing at N315 billion and a 25% growth in profit-after-tax to N60 billion; translating… Continue Reading

Skye Bank Refutes Non-Compliance With TSA

Skye Bank in a statement signed by Nduneche Ezurike, Head Strategic and Brand Management disclosed that “Our attention has been drawn to a report in Sahara Reporters and other r publications stating that the GMD and the Chief Compliance Officer of Skye Bank have been invited by the EFCC over an alleged non remittance of funds belonging to the Presidential Implementation Committee (PIC) to the CBN in compliance with the… Continue Reading

Uber Offers Free Rides To UBA Customers

Uber and UBA have today announced a partnership which offers UBA cardholders up to N6,000 worth of free Uber rides from now until 31 March 2016. UBA cardholders who sign up for Uber will get up to N3,000 off each of their first two rides. To get this offer, a customer needs to sign up with any UBA card and enter the promo code UBARIDES. Uber gets you a ride… Continue Reading

UBA GROUP APPOINTS KENNEDY UZOKA AS GROUP MANAGING DIRECTOR

At a meeting held at UBA House, the UBA Group Board today approved the appointment of Kennedy Uzoka as the new Group Managing Director, with effect from August 1st, 2016 and subject to the approval of the Central Bank of Nigeria. Mr Uzoka succeeds Phillips Oduoza, who retires on July 31, 2016, after two terms of leading the UBA Group. Kennedy Uzoka has most recently been leading the transformation agenda… Continue Reading

PARENTS BEWARE: CHI LTD RETURNS TO MARKET WITH POISONOUS CAPRISONNE JUICE

Investigation recently conducted by this magazine has revealed that Chi limited hasn’t desist from producing and distributing poisonous juice into the market, thereby putting children at greater risk. Few months ago, a clarion call was made to all mothers in the country to warn their children from taking Caprisonne, one of the packaged fruit juices in the market greatly sought after especially by children between the age bracket of one… Continue Reading

Tony Elumelu Applauds US Congress for the passage of the ‘Electrify Africa Act’

Leading investor and Chairman, Heirs Holdings, UBA Plc and founder of the Tony Elumelu Foundation, Tony O. Elumelu has applauded the U.S. House of Representatives for the passage of the “Electrify Africa Act,” which took nearly three years trying to get the measure through both chambers of Congress. The Electrify Africa Act creates a framework for a major public-private partnership between the United States and sub-Saharan African countries to help… Continue Reading

Elumelu urges US Congress to pass the Electrify Africa Act

Mr. Tony Elumelu, Chairman, Heirs Holdings and Founder Tony Elumelu Foundation has called on the United States Congress to pass the ‘Electrify Africa Act’ stating that the passage in to law would make a world of difference in Africa. “When you leave this place call your Representatives and the leadership of the House and ask them to pass the bill” Elumelu urged members of the packed audience. The bill which… Continue Reading

Buhari, Elumelu, Umunna makes list of 100 most influential Africans in 2015

Tony Elumelu, Chairman, Board of Directors, United Bank for Africa (UBA) Plc, has been named among the “100 most influential Africans of 2015.” The list published by pan African magazine “New African” presents Africa’s definitive power list and profiles the continent’s top game changers in eight different fields: Politics (22); Public Office (4); Arts and Culture (21); Business (21); Civil Society (11); Technology(9); Media (7); and Sports (5). Also on… Continue Reading

Association of Telematics Operators of Nigeria Berths

Apparently disturbed by the activities of quacks, vehicle tracking agents in Nigeria, The Association of Telematics Operators of Nigeria (ATON) has finally taken the bull by the horn to address the situation. The association has therefore begun to put all those in the business of vehicle tracking into integrity test that is in conformity with laid down rules and regulations of Nigerian Communication Commission, NCC. According to ATON, a major… Continue Reading

We did not ask any Nigerian bank to recapitalize…CBN

The Central Bank of Nigeria (CBN) has said that no Nigerian bank is ‘experiencing stress,’ and as such has not compelled any to recapitalise before June 2016. This followed an online publication purporting that some deposit money banks in Nigeria are ‘experiencing stress.’ Describing as fictitious, CBN said the story as published “is not only false and baseless but a figment of the writer’s imaginations.” Reuters news online had published… Continue Reading

The Many Troubles of Oando boss Wale Tinubu

Sometimes, to get to the top may be easy, but to stay up there may not be palatable. Here in Nigeria and some other African countries, those who find themselves at the top either by accident or by their dint of hard work usually find it very difficult to hold on firmly to their positions while some do. Wale Tinubu is one man whose rise was sudden in the sight… Continue Reading

How alleged corruption in NNPC is fueling petrol scarcity

The current fuel scarcity across Nigeria is due largely to the entrenched corruption at the Nigerian National Petroleum Corporation, reliable sources familiar with the operations of the state-owned oil company have told PREMIUM TIMES. The NNPC had said the resurgent queues in filling stations were due to panic buying and claimed it had 1.4 billion litre petrol reserve. But our sources have countered claims by the corporation, saying the current… Continue Reading

UBA treats 20 customers to an unforgettable holiday experience in Dubai

It was a Friday evening at the international wing of the Murtala Mohammed International Airport (MMIA) and 20 lucky customers of United Bank for Africa (UBA) Plc were eagerly waiting for their flight. These were the people who received their Western Union and MoneyGram transfer at UBA during the UBA Remittance Awoof Promo. Their destination was Dubai. Courtesy of UBA, they were going on an all -expense paid 3-day trip… Continue Reading

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