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Again, UBA Rewards Loyalty as Customers Win Big in Bumper Draws

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Africa’s Global Bank, the United Bank for Africa (UBA) Plc, has again rewarded its loyal customers in the just concluded UBA Bumper draws, doling out millions in cash prizes.

 

The virtual draw was witnessed by relevant regulators including representatives of the National Lottery Regulatory Commission (NLRC) and the Consumer Protection Council (CPC).

 

20 lucky bumper customers won N100,000 each, another customer won N500,000; while two lucky star winners got N1.2m and N2m cash prize.

 

Austin Akeju, a UBA Bumper account holder, emerged the winner of the star prize of N2m; while Abigail Ijeoma Ogbuehi and Sunday Okpaka, smiled home with N500,000 and N1.2m cash prize respectively.

 

Winners of the N100,000 cash prizes are: Jesulayomi Dorcas Akintomide, Maryam Salisu, Ahmad Salisu, Fatimo Adeife, Imam Imam, kunle Aremu Micheal, Abdurrazak Abdulhamid, Eniye Ebi Ikisa, Fatima Muhammed, Mulikatu Dupe Saka, Amarachi Angela Nwanegbo and Onyinyechi Esther Nwafor.

 

Others are Emmanuel Ajiga Ogo, Ejiro Fidelia Oseya, Progress Osozebhueghele, Philip Domozu, Daniel Ornguga Ojume, Arinze Daniel Offorbuike, Benedict Ifeanyichukwu Ononye and Chinecherem Emelda Enuka.

 

When contacted over the phone, one of the winners Austin Akeju, expressed gratitude to the bank for the cash prize, adding that he was very excited, “I am very happy, thank you UBA for this amazing gift,” he said.

 

UBA’s Head, Personal Banking, Ogechi Altraide, who congratulated all the winners after the draw, said that “For several months, the bank has been all about putting smiles on the faces of its customers, while encouraging them to cultivate the culture of savings. Over the years, we have constantly given away huge cash prizes as reward to our customers, with the aim of appreciating our customers who believe in us and have trusted the bank with their funds.”

 

Altraide encouraged customers who did not win this time to get set for the Super Savers draw happening this December, adding that; “I will advise new customers to quickly key in by dialing *919*20# to open a UBA account and save a minimum of N5,000 to qualify for the Super Savers draw.”

 

The Group Head, Brand Management & Marketing, Uzoamaka Oyeka, said the general intent of the monthly, quarterly and periodical draws is to appreciate loyal customers, who have stayed with UBA over the years, while also presenting fresh opportunities for potential and intending customers to join the growing number of millionaires who have benefitted from several promos organised by the bank.

According to her, there are several saving options for customers to choose from to be able to experience the thrills and joy that comes with winning huge rewards from the bank. “We have the Super Savers draw coming in December, and I therefore encourage those of you who are yet to jump on this winning train to do so to enjoy their own life-changing moments. Customers who save with UBA stand the chance to win ₦2,000,000 and other fantastic prizes in the Super Savers Draw” she added.

 

United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty-five (25) million customers across 1,000 business offices and customer touch points in 20 African countries. With presence in New York, London and Paris, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.

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Oreoluwa Finnih leads Stakeholders in charting path for building sustainable Lagos….

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A 2022 report by the Office of Sustainable Goals revealed a startling statistic: about 3 million Lagosians, that is 10 percent of the total population, live in hard-to-reach or underserved communities.

 

This figure, compounded by the city’s rapid population growth, urbanisation, and projected rise in sea levels is posing a threat to the resilience of Lagos.

 

In a bid to change this narrative and build a resilient and sustainable Lagos State, Oreoluwa Finnih, the special adviser to Governor Babajide Sanwo-Olu on Sustainable Development Goals recently gathered stakeholders across the country to discuss how best to achieve sustainable development goals for Lagos State.

 

 

Themed ‘Building a Resilient and Sustainable Lagos,’ Finnih hinted that the Lagos State Sustainability Summit is symbolic of Nigeria’s unity and commitment towards achieving a sustainable future for Lagos and significantly reflects the country’s shared purpose, collective responsibility, and resoluteness in guaranteeing a better and more sustainable Lagos for future generations.

 

 

Finnih said the summit is only a result of a genuine collaboration and a thirst for excellence, adding that beyond this summit, she and her team have pooled resources, expertise, and resolve together to align their activities with the global Sustainable Development Goals (SDGs) and ensure that the vision of a sustainable and resilient Lagos becomes a reality.

 

 

This, she said, is because her commitment is not merely superficial; but demonstrated through the integrated policies, strategic partnerships, and concerted efforts that they are witnessing.

 

This summit, she said, is one major outcome and an example of these endeavours. The theme for this summit, ‘Building a Resilient and Sustainable Lagos’ was neither randomly decided, nor is it out of place. It is a deliberate choice that mirrors our ambition of Lagos Sustainability Vision.

 

“In fact, it is built around the Lagos State Office of Sustainable Development Goals (OSDG), fundamental principles of social responsibility, equitable development, and the creation of an enabling environment for sustainable growth and development.

 

“Building a sustainable Lagos has never been more important than now because of the surmounting pressures ahead. Going by the United Nations 2030 sustainability agenda, we are left with just six years to attain the sustainable development goals.

 

“Although Lagos remains ahead in the sustainability journey, we still face unique challenges that range from rapid urbanisation to a growing population, and increased vulnerability to the impacts of climate change,” Finnih explained.

 

 

She recognised the tireless efforts of three critical bodies who have been instrumental to the realisation of this summit: the Lagos State Office of Sustainable Development Goals (OSDG), the Lagos State Safety Commission, and the Lagos State Environmental Protection Agency (LASEPA).

 

She said the OSDG’s mandate has evolved to lead as the principal SDG coordinator in Lagos by championing initiatives that accelerate the attainment of the 17 goals. For us, sustainability is the practice of meeting today’s needs without compromising the future generation’s ability to meet their own needs.

 

She stressed that the OSDG execution strategy is and will remain characteristically innovative, inclusive, and practical.

 

Finnih said she and her team has refined strategy on four pillars: Strategic Planning which aligns state-level initiatives with global sustainability targets, resource mobilisation, which secures the financial, technical, and human resources including forming strategic partnerships, advocacy and awareness which engages all sectors on the importance of sustainability, and of course monitoring & evaluation to track their progress, assess impact, and make informed adjustments to meet her objectives.

 

In essence, she added that these pillars are directed towards the Lagos State Development Plan 2052, closely aligned with the SDGs, to reinforce our commitment to establishing Lagos as Africa’s Mega City.

 

 

For this cause, we have commissioned the OSDG Lighthouse Project, a flagship programme targeted at improving the livelihood of thousands of Lagosians in hard-to-reach or underserved communities.

 

“We have also commenced the Lagos Minds Project geared towards bettering the mental well-being of our teeming young population.

 

“We are also building a comprehensive data repository to guide the OSDG and other stakeholders in evidence-based decision-making.

 

“The OSDG has also designed a comprehensive framework and assembled a dedicated team for extensive monitoring and evaluation across both the public and private sectors. This is to compare our baseline and target outcomes and drive the change we seek,” she said.

 

 

During his keynote address, Rabiu Olowo, executive secretary and chief executive officer, Financial Reporting Council (FRC) of Nigeria said the FRC plays a crucial role in advancing sustainability practices through several key functions and initiatives which includes establishing and enforcing reporting standard, promoting best practices in corporate governance, training and education, facilitating transparency and accountability, monitoring and compliance, encouraging innovation and adoption of sustainable practice and collaboration with stakeholders.

 

 

Olowo mentioned five thematic levers for aligning financial strategies with the sustainable development goals to include better prioritization of resource allocation ( Budgeting), focusing on service delivery and outcomes, sustainable financing, economic empowerment and sustainability reporting.

 

 

He said FRC is not relenting on its efforts to promote and enforce sustainability practices, support innovation, and collaborate with various stakeholders.

 

“By doing so, we will help drive Nigeria’s transition towards a more sustainable and resilient future.

 

“The FRC alone cannot handle this task and that’s why partnerships like this are the only way to advance sustainability practices in Lagos. This is a responsibility that the FRC is happy to execute with all the seriousness that it deserves,” he added.

 

Also speaking at the summit, Babajide Olusola Sanwo-Olu, Governor of Lagos State said the summit serves as a pivotal moment to build consensus and forge new partnerships around the priorities shared.

 

 

Sanwo-Olu who was represented by Kadri Obafemi Hamzat, Deputy Governor, Lagos State said Lagos State Development Plan (2022–2052) sets the framework for our long-term vision. It emphasizes four key pillars: economic growth, human capital development, infrastructure expansion, and environmental sustainability.

 

 

At the heart of this plan, he said, is a commitment to using technology, innovation, and inclusive governance to build a city capable of adapting to an unpredictable future.

 

Sanwo-Olu said Lagos, like many urban centers worldwide, faces increasing pressures from rapid urbanization, climate change, and social inequality.

 

He said but instead of being daunted by these challenges, he sees them as opportunities to shape a Lagos that thrives on resilience and sustainability.

 

“Sustainability has always been central to our developmental agenda. In 2021, Lagos became the first sub-national government to activate the $1 trillion Nigerian Green Bond Market Development Program, paving the way for sustainable finance in urban development.

 

 

This bold move is more than just a financial milestone, It is a testament to our commitment to building a greener, smarter Lagos.

 

“Our Lagos Climate Action Plan sets ambitious targets to achieve net-zero emissions by 2050. It encompasses critical sectors such as energy, food systems, manufacturing, transportation, and urban infrastructure.

 

 

By mobilizing resources towards green projects, we are driving the systemic changes needed to foster sustainable growth without compromising our environment or the well-being of our people,” the governor explained.

 

He disclosed that Lagos is also pushing forward with projects such as the Circular Lagos Project, which promotes zero waste and a circular economy.

 

These initiatives, he said underscore its focus on long-term strategies that unlock the potential within the sustainability ecosystem and support Lagosians in living more harmoniously within the city.

 

 

Sustainability is not just about the environment; it is about creating a city that works for everyone. The future we envision for Lagos is one where no one is left behind. Our city planning must address the needs of all residents—urban and rural alike—and consider the cross-sectoral impact of our policies.

 

 

We are dedicated to creating public spaces and services that promote social interaction, safety, and inclusivity. Cities are made by people, and they must be for the people.

 

“This means ensuring that all residents, regardless of income or background, have

access to the resources and opportunities that will enable them to thrive,” Sanwo-Olu said.

 

https://www.linkedin.com/posts/oreoluwafinnih_lagossustainabilitysummit-sustainablelagos-activity-7239992144046751744-Zc4O?utm_source=share&utm_medium=member_android

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Central Bank Begins Tracking Of POS Transactions, Issues Directive To Service Providers….

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The Central Bank of Nigeria on Thursday ordered all Payment Service Providers to route all transactions from PoS terminals at merchant and agent locations — physical or electronic — through an approved CBN Payment Terminal Service Aggregator.

 

The directive was contained in a circular issued by Oladimeji Yisa Taiwo on behalf of the CBN’s Payments System Management Department.

 

The apex bank stated that all PoS transactions from merchant and agent locations must now be routed through any CBN-licensed PTSA.

 

 

The circular also announced a 30-day deadline requiring service providers to comply with enhanced routing guidelines for point-of-sale transactions.

 

This move aims to strengthen the monitoring of electronic transactions across Nigeria and decentralise PoS transaction routing, addressing concerns about the centralisation of such transactions under a single entity.

 

The circular read, “To achieve the objective of tracking electronic transactions in Nigeria, the Central Bank of Nigeria, in August 2011, granted a Payment Terminal Service Aggregator licence to Nigeria Interbank Settlement System Plc. In furtherance of the above, the CBN hereby directs acquirers to route all transactions from PoS terminals at merchant and agent locations, whether on physical or electronic PoS terminals, through any CBN-licensed Payment Terminal Service Aggregator.”

 

“PTSAs are required to send PoS transactions to only processors certified by the relevant Payment Scheme, nominated by the Acquirer, and licensed by the CBN.”

 

This development follows the expiration of the 5th September deadline for PoS agents to formally register their businesses with the Corporate Affairs Commission.

 

 

Although the directive was challenged in court, the CAC recently announced that it has commenced taking drastic actions, including shutting down PoS businesses that failed to register.

 

The directive on PoS business registration comes against the backdrop of frequent fraud incidents involving PoS terminals and the Central Bank of Nigeria’s plans to prevent trading in cryptocurrency or virtual currency.

 

According to a report by Nigeria Inter-Bank Settlement System Plc, PoS terminals accounted for 26.37% of fraud incidents in 2023.

 

 

 

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Record Breaking: GTCO becomes first financial institution to cross N1trn profit mark..

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Guaranty Trust Holding Company (GTCO) Plc has released its audited consolidated and separate financial statements for the period ended June 30, 2024, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).

 

The Group reported profit before tax (PBT) of N1.004trilion, becoming the first Nigerian financial institution to cross the N1trillion mark in profit.

 

 

This figure represents an increase of 206.6 percent over N327.4billion recorded in the corresponding period ended June 2023. The Group’s loan book (net) increased by 25.5 percent from N2.48trillion recorded as at December 2023 to N3.11trillion in June 2024, while deposit liabilities grew by 39.8 percent from recorded N7.55trillion in December 2023 to

N10.55trillion in June 2024.

 

 

 

 

The Group recorded growth across all of its asset lines and continues to maintain a well-structured, healthy, and diversified balance sheet across all jurisdictions where it operates a banking franchise as well as across its payments, pension and funds management business verticals with total assets and shareholders’ funds closing at N14.5trillion and N2.4trillion, respectively.

 

 

Capital Adequacy Ratio (CAR) remained very robust and strong, closing at 21 percent , while asset quality was sustained as evidenced by IFRS 9 Stage 3 Loans which closed at 4.3 percent in June 2024 from 4.2 percent in December 2023. Improvement in Cost of Risk (COR) stood at 1.6 percent from 4.5 percent in December 2023.

 

 

Commenting on the results, Segun Agbaje, group chief executive officer of Guaranty Trust Holding Company Plc said: “We are immensely proud of the progress we have made as a leading financial holding company. Despite the uncertainties in the operating environment, our performance in the first half of the year, where we recorded our highest profit to date, is a testament to the resilience and adaptability of our business model. We remain optimistic about the future and are committed to leveraging our unique strengths as a thriving financial services ecosystem to create sustainable value for all our stakeholders as we continue to position all our business verticals–Banking, Funds Management, Pension, and Payments–for rapid growth a

cross key markets.”

 

 

 

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