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UBA Reinforces Its Customer Focus, Honours Staff Integrity

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The United Bank for Africa Plc (UBA) once again demonstrated its commitment to excellence in customer service, by celebrating staff who have strived to implement the Bank’s core values of Enterprise, Excellence and Execution.

 

At the event held at the Eko Hotel Expo Centre, Lagos, Nigeria, UBA gathered customers, captains of industry, dignitaries from politics and diplomacy, staff and Board members from its 19 African country network, to witness the 2017 UBA CEO Awards.

 

The prestigious annual event was first established in 2008 to celebrate outstanding performance within the UBA Pan-African family, showcasing excellence, significant innovation and service in key areas of the Group’s business.

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2017 CEO Awards 2: Executive Director, North, UBA Plc, Mr. Ibrahim Puri; GMD/CEO, UBA Plc, Mr. Kennedy Uzoka; Governor of Adamawa State, His Excellency Bindow Jibrilla ; Governor of Bauchi State, His Excellency, Mohammed Abdullahi Abubakar ; Group Chairman, UBA Plc, Mr. Tony Elumelu; Directors, UBA Plc; Deputy Senate President, Sen. Ike Ekweremadu;  and former Director General, Mr. Frank Nweke,  at the Annual  UBA CEO Awards which was held in Lagos at the weekend

UBA’s industry-leading recent promotion of 3000 staff members illustrated the Bank’s appreciation of their contributions and their service delivery to customers. Amongst a distinguished audience, the Bank and senior management on Saturday night again celebrated its staff at the CEO Awards Ceremony, in UBA’s inimitable style – bringing together Lions and Lionesses from across Nigeria and Africa.

 

Over 10 Awards were given. Of each award category, the GMD, Kennedy Uzoka said “We recognise and appreciate that there are so many staff members who have demonstrated aspects of each of our core values, but we have had to single out the very best. We celebrate our Lions and Lionesses who used their ingenuity and creativity, as well as their industry experience and passion, to work tirelessly to deliver excellent service to our customers and to continue to achieve exceptional results within the Group’.

 

There were winners who had excelled in innovation and execution across Africa. There were also those who were rewarded for their entrepreneurial abilities. The CEO of UBA Ghana, Mrs Abiola Bawuah was chosen in the special award category of “Business Leader who defied all odds and opened up new opportunities for the Bank”. Mrs Bawuah was described by the GMD as ‘a relentless CEO who breaks barriers, extends the horizon and motivates, inspires and encourages others.’

 

The Award which stole the show went to Ibrahim Ogbanagbo, the UBA security staff at the UBA Oba Akran branch in Lagos, who found $10,000 cash belonging to a customer and returned it to the customer. Ogbanagbo talked about how the $10,000 could have changed his life and how he could have taken it, but how his upbringing, as well as UBA’s value and focus on Integrity would never have allowed him to do so. He was given the Excellence Award for his display of honesty and integrity.

The Group Chairman, Tony Elumelu went on stage to congratulate Ogbonagbo personally. Elumelu said that Ogbanagbo exemplified someone who is committed to the hallmarks of Excellence in the execution of his duties.

“This  is an example to us all. How anyone, no matter their position in our Group can distinguish themselves and set an example. Today, we stand here to celebrate a junior UBA staff member, who returned money that was misplaced and who through this action, gained much more than he could ever have imagined. As a leading pan-African bank, this is what we stand for and we commend Ibrahim Ogbonagbo for living the principle of integrity.”

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2017 CEO Awards 3: CEO, UBA Francophone Africa, Mr. Emeke Iweriebor; Executive Director, Lagos and West, Mr Ayo Liadi ; CEO, UBA Anglophone Africa, Mr. Oliver Alawuba; Award Winner and MD/CEO, UBA Tanzania, Mr. Peter Makau, at the Annual  UBA CEO Awards which was held in Lagos at the weekend

Mr Ogbonagbo was not only recognized and awarded the 2017 CEO Excellence Award, but he warmed the hearts and minds of many.  He received a standing ovation, as well as rewards from dignitaries in the audience who came on stage to acknowledge him. The Governor of Adamawa State in  Nigeria, Alhaji Bindo Jibralla pledged the sum of $5,000 and he also received a personal commitment of $10,000 from the Governor of Bauchi state, Alhaji Mohammed Abdullahi Abubakar.  The Deputy Senate president, present at the event, Senator Ekweremadu said that Ogbanagbo’s name will be announced at the floor of the Senate (on Tuesday) during plenary and will be given the sum of N5,000,000 by the Senate.

 

The theme for the night was “the Journey of UBA”, brought to life by an African entertainment concept, crisscrossing the length and breadth of Africa and highlighting UBA’S Pan-African vision, starting with its oldest region, West Africa and showcasing East and Southern Africa, as well as the significant presence of an African Bank in New York, London and Paris.  There was dance and prose, rhythm and theatre . There were also loved artistes including Dare Art-Alade who opened the show with a terrific rendition of the Nigerian National Anthem, Adekunle Gold, Dr. Sid, Flavor N’abania, P-Square, Awilo Longomba from the Congo and the undisputed King of Juju music, King Sunny Ade. Guests and dignitaries, management and staff of UBA found themselves letting their hair down and throwing protocol to the wind.

 

The Bank was honoured by the presence of their Excellencies, the Governors of Adamawa and Taraba States, Deputy Senate President, Senator Ekweremadu, Governor Donald Duke, Alhaji Abdul- Samad Rabiu and many others.  The ceremony also witnessed the presence of key industry players, diplomats, ministers and key influencers in Nigeria, as well as the CEOs and Board Chairmen of the 19 African countries in which UBA operates, democratising banking for over 14 million customers.

 

In all it was a night to remember, an evening of reward and celebration, and perhaps most poignantly, the story of how the integrity and honesty of a UBA security staff could become the role model of an African group of over 25,000 people and a symbol of the paramount commitment of UBA to its customers.

 

United Bank for Africa Plc is a leading pan-African financial services group, with presence in 19 African countries, as well as the United Kingdom, the United States of America and France.

 

UBA was incorporated in Nigeria as a limited liability company after taking over the assets of the British and French Bank Limited who had been operating in Nigeria since 1949. The United Bank for Africa merged with Standard Trust Bank in 2005 and from a single country operation founded in 1949 in Nigeria – Africa’s largest economy – UBA has become one of the leading providers of banking and other financial services on the African continent. The Bank provides services to over14 million customers globally, through one of the most diverse service channels in sub-Saharan Africa, with over 1,000 branches and customer touch points and robust online and mobile banking platforms.

 

UBA was the first Nigerian bank to make an Initial Public Offering, following its listing on the NSE in1970. It was also the first Nigerian bank to issue Global Depository Receipts. The shares of UBA are publicly traded on the Nigerian Stock Exchange and the Bank has a well-diversified shareholder base, which includes foreign and local institutional investors, as well as individual shareholders.

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Nigerian Bank MD’s colluded with government officials to re-loot recovered Abacha loot – EFCC

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The Economic and Financial Crimes Commission has accused commercial banks of colluding with government officials to re-loot recovered loot of the late dictator, Sani Abacha.

In December 2017, the Federal Government signed a Memorandum of Understanding with Switzerland on the return and monitoring of the $322 million Abacha loot.

The proceeds were intended for Conditional Cash Transfer under the Social Investment Programme which began in December 2016, under ex-president Muhammadu Buhari’s administration.

The looted funds were meant to provide N5,000 monthly stipends to the most vulnerable Nigerians across the country.

However, on Sunday, a spokesperson for the EFCC, Dele Oyewale, in a statement, said that the anti-graft agency opened investigations into other alleged financial malpractices from the ministry; involving the COVID-19 funds and the World Bank- assisted loan coordinated by the Humanitarian Ministry to assist poor Nigerians.

The EFCC said, “Discreet investigations by the EFCC have opened other fraudulent dealings involving COVID -19 funds, the World Bank loan, Abacha recovered loot released to the ministry by the Federal Government to execute its poverty alleviation mandate. Investigations have also linked several interdicted and suspended officials of the ministry to the alleged financial malfeasance.

“It is instructive to stress that the commission’s investigations are not about individuals. The EFCC is investigating a system and intricate web of fraudulent practices. Banks involved in the alleged fraud are being investigated. Managing directors of the indicted banks have made useful statements to investigators digging into the infractions. Those found wanting will be prosecuted accordingly. Additionally, the EFCC has not cleared anyone allegedly involved in the fraud. Investigations are ongoing and advancing steadily. The public is enjoined to ignore any claim to the contrary.’’

The commission also revealed that N32.7 billion and $445,000 had been recovered from both past and suspended officials of the humanitarian ministry.

It added that the commission initiated investigations into the affairs of the humanitarian ministry inviting former minister, Sadiya Umar-Farouq, and her successor, Beta Edu, suspended by President Bola Tinubu in January for alleged abuse of office.

 

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EFCC recovers N32.7bn, $445,000, faults Betta Edu, Sadiya Umar-Farouq, Halima Shehu

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The Economic and Financial Crimes Commission, EFCC has faulted suspended Humanitarian Minister, Betta Edu, her predecessor, Sadiya Umar-Farouq, and the Coordinator of the National Social Insurance Programmes Agency, Halima Shehu, while revealing that a combined total of N32.7bn and $445,000 has been recovered so far from ministry.

The commission made the development known on Sunday via its official X handle in response to rumours concerning the progress of its investigations into the alleged financial misappropriation in the Ministry of Humanitarian Affairs, Disaster Management and Social Development.

The statement signed by the spokesperson for the EFCC, Dele Oyewale, read, “The Economic and Financial Crimes Commission, EFCC, has noticed the rising tide of commentaries, opinions, assumptions and insinuations concerning its progressive investigations into the alleged financial misappropriation in the Ministry of Humanitarian Affairs, Disaster Management and Social Development.

“At the outset of investigations, past and suspended officials of the Humanitarian Ministry were invited by the Commission and investigations into the alleged fraud involving them have yielded the recovery of N32.7billion and $445,000 so far.

“Discreet investigations by the EFCC have opened other fraudulent dealings involving Covid -19 funds, the World Bank loan, Abacha recovered loot released to the Ministry by the Federal Government to execute its poverty alleviation mandate. Investigations have also linked several interdicted and suspended officials of the Ministry to the alleged financial malfeasance.

“It is instructive to stress that the Commission’s investigations are not about individuals. The EFCC is investigating a system and intricate web of fraudulent practices. Banks involved in the alleged fraud are being investigated. Managing Directors of the indicted banks have made useful statements to investigators digging into the infractions. Those found wanting will be prosecuted accordingly.

Additionally, the EFCC has not cleared anyone allegedly involved in the fraud. Investigations are ongoing and advancing steadily. The public is enjoined to ignore any claim to the contrary.

“On the issue of the works of the Commission against Naira abuse, dollarization of the economy and the enforcement of all extant laws relating to them, the EFCC appreciates the avalanche of public awakening, support and involvement demonstrated so far. Increasingly, members of the public are drawing the attention of the Commission to video recording of abuse of the Naira by Nigerians from all walks of life. These gestures amply demonstrate rising consciousness of the public to the sanctity of our national currency and the need for collaborative engagement to sustain the tempo.

“To this end, the Commission will always investigate and prosecute anyone involved in the abuse of the Naira. Old videos being exhumed and flying around for the attention of the Commission are noted as the Commission is sensitive to the fact that its Special Task Force against Naira Abuse and Dollarization of the economy commenced operations on February 7, 2024. However, going forward, new videos of such infractions will be investigated and prosecuted.

At the moment, the Commission is investigating several celebrities involved in Naira abuse. Many of them have made useful statements to the Commission and many more have been invited by investigators working on the matter. The EFCC will not relent in its no-sacred-cow mode of operations and the public should be wary of running afoul of laws against the crime.”

 

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CAC Places First Bank Records On Caveat Over Litigation

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The Corporate Affairs Commission, CAC, has placed the records of First Bank of Nigeria (FBN) Holdings on caveat pending the resolution of the crisis rocking…

The Corporate Affairs Commission, CAC, has placed the records of First Bank of Nigeria (FBN) Holdings on caveat pending the resolution of the crisis rocking the board of the bank as a result of multiple court cases filed by aggrieved directors.

The crisis rocking the bank stemmed from protests by shareholders who were kicking against the bank’s internal governance and shareholding structure, as a result of which some of them have taken their grievances to the court.

One of such is the case of Olusegun Samuel Onagoruwa v. FBN Holdings Plc in Suit No. FHC/L/CP/1271/2022), which is challenging the capacity of the Board of Directors of FBN to appoint new persons to fill vacant slots.

Onagoruwa in his suit is seeking “an order setting aside, nullifying, annulling and/or quashing the appointments and approvals of Mr. Olusola Adeeyo, Mr. Viswanathan Shankar, Mrs. Remilekun Adetola, Mr. Anil Dua and Mrs. Fatima Ibrahim as Non-Executive Directors of First Bank of Nigeria Limited made on the 20th day of March, 2024, by FBN Holdings PLC during the pendency of this action and in defiance of the subsisting order of this Honourable Court made on the 15th day of July, 2022.”

The motion also seeks an order restraining the above-named non-executive directors from acting or taking any steps as non-executive directors of the bank.

The current court case follows similar four other cases pending at the Federal High Court in Lagos and Abuja challenging the internal governance of FBN Limited, in addition to existing court injunctions restraining the bank from holding the last two Annual General Meetings which the bank went ahead to hold.

In a new twist to the crisis, the Corporate Affairs Commission in a letter entitled.

“Re: notification of pendency of suit no. fhc/l/cp/1575/23 against FBN holdings plc, and subsisting interim orders of the Federal High Court made on the 9th day of August 2023 restraining FBN holdings plc from holding or proceeding with its annual general meeting purportedly held on the 13th day of August 2023”, weighed in on litigations threatening to tear the old generation bank apart.

Signed on behalf of the Registrar General of CAC by Chidimma Maureen Nwite, the Commission in a letter to lawyers to some of the parties in court against FBN Holdings said: “This is to inform you that the record of FBN Holdings PLC RC: 916455 has been placed on caveat pending the determination of Suit No. FHC/L/CS/1575/2023.”

A shareholder, Mr. Olalekan Babalola, said “it is imperative for the authorities to find a solution to this lingering crisis as Nigeria cannot afford another major bank’s collapse at this critical time

He called for urgent resolution of all court cases in the overall interest of depositors, shareholders and other stakeholders of the bank before further damage is done to the oldest Nigerian bank.

 

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