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UBA Appoints five new Executive Directors to Group Board .

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7 years ago

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nited Bank for Africa PLC, the leading pan Africa banking group, with operations in 19 African countries and presence in the London, Paris and New York, is pleased to announce the following executive management appointments, subject to the approval of the Central Bank of Nigeria:

Ayo Liadi;

Oliver Alawuba;

Ibrahim Puri;

Uche Ike and

Chuks Nweke

All bring considerable experience to the Board and, as a sign of the depth of internal talent and the Group’s commitment to fostering promotion of its own human capital , all have been promoted from within the Bank.

Ayo Liadi has over 20 years’ banking experience, having worked in Tier 1 banks in Nigeria and in West Africa, before joining UBA in January 2014 as the Director for Lagos and West Bank, overseeing over 200 branches of UBA. A Chartered Accountant and graduate of Business Management from the University of Nigeria, Nsukka, Ayo received the Dean’s Award for Outstanding Academic Performance.

Oliver Alawuba, currently the CEO Africa, Anglophone, joined the UBA Group in 1997. A member of the Association of Bank Directors in Nigeria and also a Catholic Knight, Oliver had previously supervised the Bank’s Public Sector and Personal Banking businesses. Oliver has over 25 years of banking experience.

Ibrahim Puri, currently Directorate Head of the North Bank is a graduate of Banking and Finance. He joined the UBA Group in 2006 and has contributed immensely to the growth of the Bank in both the private and public sectors. Ibrahim has over 25 years of banking experience.

Uche Ike  the Group Chief Risk Officer, is a Chartered Accountant, with an MBA from the University of Benin. He has been with the Group since 2006 and has served in a number of prominent roles, first as Group Head of Operations in South and South East Banks and then for a period of five years, as General Manager at the Bank’s New York branch. Uche has over 27 years of banking experience.

Chuks Nweke, currently the Head of Operations and Information Technology, is an accounting graduate of the University of Nigeria at Nsukka (best graduating student) and holds an MBA from the same university. Chuks is also a qualified Chartered Accountant. He has over 25 years of banking experience .

Congratulating the newly appointed Directors, the Group Chairman, Tony Elumelu said ” These appointments will greatly assist in the plans we have to transform the UBA Group into a truly customer led bank and the foremost financial institution in Africa”.

“These are exciting times for UBA”, he continued. “And with this leadership, I have no doubt that the Bank will continue on its strong growth trajectory “.

The newly appointed Executive Directors join Kennedy Uzoka, who was appointed as the incoming Group CEO in March 2016. Kennedy will assume his role on the 1st of August, on the retirement of Phillips Oduoza.

Mr Uzoka said today “I am extremely optimistic about the future of the Bank, these appointments show the strength of the talent available within UBA and demonstrate our commitment to institutionalisation. We could not have put together a better executive leadership team”.

Board Chairman, Tony Elumelu, also commended outgoing Directors saying “I take this opportunity to inform you that two of our Executive Directors, Femi Olaloku and Obi Ibekwe will be retiring from the Board effective June 30 and May 31, 2016 respectively. I would like to thank them for the enormous contributions they have made during their time of service”.

In April this year, UBA held an intensive three day strategy session which brought together the Group Board , subsidiary CEOs and board chairs to set a path for the Pan Africa Bank’s future.

At the Group strategy session, the Bank resolved to deepen its commitment to its pan Africa strategy and accelerate its expansion across the continent. The appointment of five Executive Directors today is a visible manifestation of the Group’s strategic intent.

UBA reported strong financial results in 2015, in what all recognised was a challenging macro environment. Gross earnings were N315billion whilst operating profits approximated to N70billion. First quarter profits in the current financial year, at N18 billion, illustrate the resilience of the Bank’s business model.

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JUST IN: Tinubu returns to Abuja after France, South Africa trips

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3 hours ago

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December 4, 2024

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President Bola Tinubu has returned to Abuja from his visit to France and South Africa.

The Airbus A330 which conveyed Tinubu, arrived at the Presidential Wing of the Nnamdi Azikiwe International Airport, Abuja, at 9.10pm.

This concludes his 33rd foreign trip since assuming office 18 months ago.

Tinubu was in France from November 27 to December 1, 2024, for a three-day state visit on the invitation of his French counterpart, Emmanuel Macron.

At the Palais des Elysée in Paris, Tinubu and Macron signed two agreements to ensure a partnership on developing critical infrastructure and the long-term sustenance of agriculture and food security.

They also witnessed the signing of the agreement by the United Bank for Africa Group Chairman Tony Elumelu and Mr. Antoine Armand, the French Minister of Economy, Finance and Industry for the bank to commence operations in Paris.

Zenith Bank also inaugurated its services in the country during the visit.

On Monday, December 2, Tinubu departed France for South Africa.

He, alongside President Cyril Ramaphosa, co-chaired the 11th Bi-National Commission between Nigeria and South Africa in Cape Town.

At the opening of the event, on Tuesday, the President argued that Nigeria and South Africa share a collective destiny to collaborate for the good of the African continent.

Therefore, he said both countries must intensify cooperation across various sectors, warning that the implementation, not the mere signing of MoUs, constitutes the success of the partnership.

He also sought South Africa’s support to ensure Nigeria’s membership in the G20 nations, a premier international forum for economic cooperation, bringing together the world’s major advanced and emerging economies.

In response, Ramaphosa announced that South Africa will “keenly” support the bid of Nigeria, “a valued sister country,” to become a member of the G20 club of the world’s major economies.

Ramaphosa said other key African countries should also be admitted to the club “so that we can raise the voice from Africa, the neglected continent for the longest time.”

He noted that South Africa had been the lone voice for Africa in the G20 before the admission of the African Union last year after his country had lobbied for it to become a member.

Nigeria and South Africa also operationalised the Joint Ministerial Advisory Council on Industry, Trade and Investment to enhance economic cooperation between the two leading African economies.

Tinubu was received at the airport by the Minister of the Federal Capital Territory, Nyesom Wike, and the Secretary to the Government of the Federation, George Akume, among other senior government officials.

So far, the president has logged 139 days abroad, visited 17 countries, and accumulated about 304 flight hours.

Countries visited include Paris, France (five times); Malabo, Equatorial Guinea; London, the United Kingdom (four times); Bissau, Guinea-Bissau (twice); Rio de Janeiro, Brazil; Nairobi, Kenya; Porto Norvo, Benin Republic; The Hague, Netherlands; Pretoria and Cape Town, South Africa; Accra, Ghana; New Delhi, India; Abu Dhabi and Dubai in the United Arab Emirates; New York, the United States of America; Riyadh, Saudi Arabia (twice); Berlin, Germany; Addis Ababa, Ethiopia; Dakar, Senegal and Doha, Qatar.

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Federal Government Is Not Investigating Air Peace – FCCPC

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7 hours ago

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December 4, 2024

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The Federal Competition and Consumer Protection Commission, FCCPC says its invitation to Air Peace is simply for an inquiry to understand its price methodology and respond to consumers complaints.
The Director, Surveillance and Investigation, Mrs. Boladale Adeyinka said neither the airline nor the chairman, Dr. Allen Onyema is under any investigation, but that the Commission invited Air Peace based on complaints from customers for the airline to educate them on its price methodology.
“Thank you so much for honouring our invite in person. We have gained more insight into your operations. Just again to reiterate that it is not an investigation, it is an enquiry to understand and again, find out based on consumer complaints.”
Adeyinka, who stated this on Tuesday in Abuja when the chairman of Air Peace, Dr. Allen Onyema led some members of his team to honour the invite extended to the airline, commended Air Peace for the insights made on its operations.
“Thank you also for bringing your expertise and insights to the industry, it is a good one for us, it is a good one for Nigerian consumers. This is our own, we are happy that you are doing well because if the consumers are saying that this is our aircraft, it means that ownership has moved from you to every Nigerian.”
She noted that the Commission exists for the good of businesses, customers and the operators, stressing that business stability and sustainability are core to their mandate. “We will review the situation and intervene where we can, not just for Air Peace customers but generally for all air passengers and other consumers of aviation services,” adding that this is part of the Commission’s efforts at bringing competitiveness in the market.
The FCCPC director also commended Dr. Onyema for his love for the country and philanthropic spirit and advised him not to let anything deter him from his services to humanity.
Earlier the Chairman of Air Peace, Dr. Onyema explained that fare pricing in the aviation sector is a global thing but lamented that the fare regime in Nigeria is not commensurate to the cost of putting an aircraft in the air, thus the reason why airlines frequently go under in Nigeria.
Dr Onyema argued that the choice before Nigerians going forward would be flying safe and sustainability of the airlines, which requires proper pricing based on global standards or watch the airlines go under due to poor pricing. “We need flight safety in Nigeria. For us at Air Peace, safety is a pre-condition rather than just a priority.”
He pointed out that the cost of flying anywhere in the world is priced at between $250 to $300 for an hour and in some cases even as high as $540, adding that this is what could pass for fair pricing, which Air Peace does not follow because of the low purchasing power of Nigerians.
Dr Onyema argued that the addictive nature of aviation business and patriotism have kept him in the business, stressing that if Air Peace is to factor the numerous charges involved in its operational cost, not many Nigerians would afford to fly.
He stated that the high cost of interest on loans from banks ranging from 33 to 35 percent, high insurance cost put at about $12m annually, an amount which could insure about eight aircraft abroad, volatility in the cost of aviation fuel, other sundry charges and replacement of parts, which are all sourced in dollars, make prices of tickets very high.
The Chairman of Air Peace also pointed out that it costs about $4,000 for landing per hour for an airbus plane, just as there is a cost for engine flight circle per hour, stressing that these costs if factored into operating cost will deny a number of Nigerians the opportunity of flying.
“What happens abroad is far better but here, it is a different ball game. When you calculate all these costs, you will find out that when you fill your plane with passengers, you will still have not broken even, though 70% is given as the breakeven point because the fares are not just right.”
He further highlighted that in other climes the cost of operations accounts for 40 percent component of the business but regretted that the case is different in Nigeria as the cost is much higher even up to 70 percent.
Dr Onyema noted that he has served Nigeria well at critical times in helping to protect the image of the country during COVID-19, and other times when some Nigerians were stranded abroad at no cost to the nation, stressing that nothing will kill the patriotic spirit in him.

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Just In: Nigerian Activist, Dele Farotimi Sent To Prison 24 Hours After Arrest..

Published

13 hours ago

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December 4, 2024

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Popular human right activist, Dele Farotimi has been sent to prison following his arrest yesterday in Lagos.

 

Farotimi was arrested in Lagos and whisked to Ekiti state for an allegation of defamation following a petition written against him by Aare Afe Babalola, SAN.

 

 

Aare Afe Babalola had accused Dele Farotimi of defaming him in a video he shared about corruption in the judiciary.

 

While giving update about the issue on Twitter, Omoyele Sowore confirmed that Dele Farotimi has been sent to prison.

 

“The Nigerian justice system is whack, as expected @DeleFarotimi has been hurriedly prosecuted and sent to prison after being denied bail by a judge in Ado Ekiti pre-arranged to do the same.

 

 

According to Sowore, “The Nigerian Police, Chief Afe Babalola SAN, and the judicial officers had it all planned out even before they sent the goons from Ekiti state command RRS (formerly SARS) to abduct him. The case adjourned till December 10, 2024. #RevolutionNow, I mean it. Nigeria is overdue for a REVOLUTION! “

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