November 30, 2022

Global News

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Ernest Shonekan’s Business Empire Crumbles

2 min read

Years after the scourge of economic meltdown that affected businesses and some countries’ economy globally, it is sad that some companies are bound for extinction as they do not have machineries in place to withstand such situation. Yet, many companies have since regained their grounds and some are just picking up, but one company that is finding it difficult to pick up is the business conglomerate owned by the defunct interim government of Nigeria, Chief Ernest Shonekan, which consists of Unic Health, Unic Insurance, Nigerian German Chemical (NGC) and Critical Rescue International (CRI).

A visit to the Oba Akran, Lagos administrative headquarters of the conglomerate shows the place is desolate and sparsely used. Though it was at a time said that the NGC has been moved to Sango, Ogun State, it is common knowledge that Adeboye, Shonekan’s son generally referred to as A. S. who is also the executive vice-chairman and CEO of the company will not allow his head office to be moved away from Ikeja.

However, the current state of decay and neglect the Oba Akran head office is in has everything to do with the fact that the income of the company is close to being in the red.

Unic Insurance which is the parent company of Unic Health, had years back entered into an agreement with the then V-Mobile, one of the three GSM companies in the country during that period and this led to the formation of Critical Rescue International (CRI), a quick distress response firm, that also has its office and call centre inside the Oba Akran premises of the company, though it also had its affiliation with a South African company.

This and many petty investments made the Shonekan family business very healthy during that period, but the current condition of the building that also serves as the head office of Unic Insurance and Health is in a state of disrepair that passers-by would wonder if the place has been abandoned.

Many reasons have been attributed to the state of things in the company. Some set of people believe it may be due to the economic meltdown, and that the company is only struggling to get back on its feet, but many attribute it to the fact that A. S. who heads the headquarters is not a good manager of men. One Femi who was at a time said to be at the helm of affairs in the company was forced to resign for allegedly dating another senior staff of the company who the CEO is also having an affair with. This and many more were said to have been working against the growth of the company and is said to be responsible for the current state of things in the company.

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UBA Foundation Rings in The Yuletide Season, Lights Up the Lagos Marina Africa’s Global bank, United Bank for Africa, through its Corporate Social Responsibility Arm, the UBA Foundation, on Tuesday, held its annual Christmas Lighting ceremony to mark the start of the festive season. The brilliant Christmas Lights of the UBA Foundation Gardens at the UBA Head Office on the Marina in Lagos, were activated by the bank’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, in a grand ceremony which was witnessed by key management staff and some customers of the bank. Alawuba, who addressed attendees at the ceremony, reiterated that the annual Lighting event is a symbol of hope for the coming year, the future and all the goodness it will bring into people’s lives. Alawuba said, “The UBA Foundation is focused on touching lives and giving back to its host communities. UBA through its foundation, the UBA Foundation desire remains is committed to improving lives in whatever way we can. We want to give back always and this event is quite symbolic as it represents the affinity we have towards our customers, employees and associates as well as our communities.” The CEO of the UBA Foundation, Mrs Bola Atta, said that the Christmas lighting ceremony was important for the Foundation adding: “Today is significant. All over the world, it is known in the advent period as Giving Tuesday. It is a time to give back to those who don’t have enough. It is a time to shine light on others, to give hope and give gifts. Today we gave out a lot of gifts and people were happy as we lit up the Foundation gardens to symbolise joy and hope. We are constantly reminded as an institution, of our promise to continue to touch lives and show kindness. In these difficult times, sharing even a little bit, goes a long way.” The lighting ceremony was attended by UBA staff members and customers who were serenaded with Christmas carols by the UBA Customer Fulfilment Centre’s choir. It ended with a guided tour around the UBA Foundation gardens on the Lagos Marina. Over the years, the UBA Foundation has been very active in creating sustainable development in its host communities and as part of its corporate social responsibility, the Foundation will be feeding tens of thousands of people across Africa during this festive season. UBA Foundation, the CSR arm of the UBA Group, is committed to the socio-economic betterment of the communities in which the bank operates, focusing on development in the areas of Education, the Environment, Economic Empowerment and other Special Projects.

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2 min read

UBA Foundation Rings in The Yuletide Season, Lights Up the Lagos Marina Africa’s Global bank, United Bank for Africa, through its Corporate Social Responsibility Arm, the UBA Foundation, on Tuesday, held its annual Christmas Lighting ceremony to mark the start of the festive season. The brilliant Christmas Lights of the UBA Foundation Gardens at the UBA Head Office on the Marina in Lagos, were activated by the bank’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, in a grand ceremony which was witnessed by key management staff and some customers of the bank. Alawuba, who addressed attendees at the ceremony, reiterated that the annual Lighting event is a symbol of hope for the coming year, the future and all the goodness it will bring into people’s lives. Alawuba said, “The UBA Foundation is focused on touching lives and giving back to its host communities. UBA through its foundation, the UBA Foundation desire remains is committed to improving lives in whatever way we can. We want to give back always and this event is quite symbolic as it represents the affinity we have towards our customers, employees and associates as well as our communities.” The CEO of the UBA Foundation, Mrs Bola Atta, said that the Christmas lighting ceremony was important for the Foundation adding: “Today is significant. All over the world, it is known in the advent period as Giving Tuesday. It is a time to give back to those who don’t have enough. It is a time to shine light on others, to give hope and give gifts. Today we gave out a lot of gifts and people were happy as we lit up the Foundation gardens to symbolise joy and hope. We are constantly reminded as an institution, of our promise to continue to touch lives and show kindness. In these difficult times, sharing even a little bit, goes a long way.” The lighting ceremony was attended by UBA staff members and customers who were serenaded with Christmas carols by the UBA Customer Fulfilment Centre’s choir. It ended with a guided tour around the UBA Foundation gardens on the Lagos Marina. Over the years, the UBA Foundation has been very active in creating sustainable development in its host communities and as part of its corporate social responsibility, the Foundation will be feeding tens of thousands of people across Africa during this festive season. UBA Foundation, the CSR arm of the UBA Group, is committed to the socio-economic betterment of the communities in which the bank operates, focusing on development in the areas of Education, the Environment, Economic Empowerment and other Special Projects.

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