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UBA resuscitates the Professorial Chair of Finance at University of Lagos, endows it with N52.9m…

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Pan-African financial services group, United Bank for Africa (UBA) Plc has resuscitated the UBA Professorial Chair of Finance at the University of Lagos with an endowment sum of the N52.9 million.

A cheque to this effect was presented to the Vice Chancellor of the University of Lagos Professor Rahman Bello and members of the institution’s governing council on Friday last week in Lagos by Mr. Phillips Oduoza, the Group Managing Director and CEO of UBA Plc.

The UBA GMD who led other executive management members the school said UBA is committed to the promotion of a globally competitive educational system in the country.

“We have seen that there is a huge gap in the funding of educational system in the country and UBA as an institution, strongly believes in the future of Nigeria and that a well trained and educated manpower is germane to our growth and development as a nation, which is the reason why we have decided to resuscitate this endowment,” he said.

Mr. Oduoza assured that the bank will continue to promote research and innovation in the Nigerian educational system, to boost man-power development and called on other banks, companies, institutions and individuals to emulate the UBA gesture.

“As first line beneficiaries of quality manpower, to support the pursuit of research and education in all Nigerian universities, private sector endowments will result in the creation of centers of excellence in different Nigerian universities, improving the quality of graduates, decision making and leadership in the society. Government alone cannot make this happen,” Mr. Oduoza stated.

The Vice-Chancellor of Unilag was full of commendations for UBA Plc for resuscitating this chair despite the economic meltdown in the country, just as he recalled the pioneering efforts of the bank in 1972 as it established the foremost chair in the university, the UBA Chair of Finance with an endowment.

Speaking on the robust relationship that exists between UBA and Unilag, the VC said, “It is worthy to mention here today that the first financial institution to show its presence on campus and to support academic excellence in the university was UBA. From our records, this reputable bank awarded scholarships to our students in the faculty of business administration way back from 1969/1970 academic session.”

Explaining further, the VC said, “The establishment of the UBA Professorial Chair of Finance in 1972 was the first at the University of Lagos and indeed in any other University in the country. It served as the major catalyst for the establishment in 1973 of the Department of Finance in the faculty of Business Administration.”

He added that the endowment would be used to facilitate faculty excellence by providing the much needed funds to the recipients for research, teaching and for other educational activities that will end up strengthening the knowledge base of the country.

UBA’s many contributions to education in Nigeria spans several initiatives and cuts across all geographical zones of the country.

The Bank, through its corporate social responsibility arm, UBA Foundation has provided world-class ICT centres include; Adekunle Ajasin University, Akungba-Akoko, Akure, Ondo State, University of Benin, Edo State, Federal College of Education, Osiele, Abeokuta, Ogun State, and the University of Ilorin, Kwara State.

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More Troubles For Dangote Cement As Kogi Govt Demands 10 Per Cent Share, Orders Immediate Seal Off

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However, Dangote Cement is facing allegations of sharp practice from Kogi State government, Kogi Assembly as well as Akwa Ibom State.Already, the Kogi State House of Assembly has ordered stoppage to the activities of the company in two Local Governments in the State while investigations continue.

To make the claim possible, Kogi State House of Assembly ordered the management of Dangote Cement company to provide all necessary documents that have to do with the transfer of Obajana Cement Company owned by Kogi state government to Dangote Cement Company.

The House also directed that the documents signed at the establishment of the Company and relevant receipts of dues it claimed to have paid to Kogi State Government available at the next adjourned sitting date.

The speaker of Kogi State House of Assembly, Matthew Kolawole, gave the order after interim reports of the ongoing investigative hearing on Internally Generated Revenue (IGR) which was submitted by the ad hoc committee led by Hon. Isah Tenimu Umar, Member Representing Lokoja I Constituency and deliberated upon at the plenary on Wednesday.

Kolawole said this has become important in view of the claims and counterclaims between the Chairman of Kogi State Internally Generated Revenue Service (KGIRS) and representatives of Dangote Cement as the acting chairman of KGIRS, Salisu Enehe had earlier accused Dangote Cement Plc Obajana of forging its tax receipt during the investigative hearing by the State House of Assembly.

According to the State Revenue Boss, most of the figures the company claimed to have paid are totally incorrect, urging the company to check its record.

He added that despite the billions of Naira that company is making from the state monthly, it has failed to pay taxes that are due to the state and Lokoja Local Government Area.

Nigerians Getting ₦1,593,247 Per Week From ₦99,000 Investment in Amazon
Nigerians Getting ₦1,593,247 Per Week From ₦99,000.

In another development, Following the unrestrained environmental degradation in Ankpa and Olamaboro local government areas, Kogi state House of Assembly on Wednesday, directed the Commissioner of Police and Commandant of the Nigeria Security and Civil Defence (NSCDC) to seal off operations of Dangote Plc in the affected areas of the State.

The House gave the order during a public hearing on activities of Dangote Group in the state, especially on the the massive exploitation , environmental degradation and non compensation to the affected owners of the land and without revenue accruing to the state government.

The Speaker, Kogi state House of Assembly, Mathew Kolawole, charged the NSCDC commandant to ensure immediate implementation pending when the ad hoc committee on revenue clarifies some grey areas. Kolawole, who lamented the environmental degradation caused by mining activities on Kogi by the Dangote group and its subsidiaries, accused the multi national business concern of making billions in the state but yet fails to give back to it.

Akwa Ibom is also finding it difficult to collect its entitlement from the Dangote Group. According to reports from the place, the Itu Local Government blocked Dangote premises with their trucks because the company has refused to pay tax for more than two years despite pleas and series of warnings.

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Union Bank, WACOT Rice Kick Off Financial Inclusion Drive for Smallholder Farmers in Kebbi

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As part of Union Bank’s commitment to driving financial inclusion in Nigeria, the Bank has partnered with WACOT Rice Limited – a rice processing company, to financially include 6,000 local farmers including youth and women in Kebbi State.
The Kebbi Financial Inclusion Drive (KFID) which will cover four Local Government Areas – Argungu, Augie, Suru, and Dandi – is a critical part of WACOT’s Argungu Outgrower Expansion Project funded by United States Agency for International Development (USAID) West Africa Trade Hub. This program is set to resolve the overwhelming financial inclusion deficit within rural communities in Kebbi.
The financial inclusion initiative is being implemented with technical support from National Identity Management Commission (NIMC), to help the farmers acquire the relevant documentation and identification required to open bank accounts.
Union Bank will facilitate account opening and expand its agency banking network to cover the areas while supporting its agents on ground with digital banking solutions to enable seamless transacting and account management.
Farouk Gumel, Chairman WACOT and Board Chair, Union Bank was on ground in Kebbi State to kick-off the drive and paid a visit to the Kebbi state Governor, Senator Abubakar Atiku Bagudu to discuss expanding the programme state-wide.
In his recent keynote address at the recently concluded and  Chartered Institute of Bankers of Nigeria (CIBN) Conference, Mr. Gumel said:
 “As we work towards achieving financial inclusion to reach the unbanked, we must commit the same resources and investments to rural-local customers as we have done to urban-global clients to help create the growth that will lift us all to collective prosperity.”
WACOT Rice is a subsidiary of TGI Group. TGI Group, through another of its subsidiary Titan Trust Bank, recently acquired Union Bank in a landmark transaction which was announced in 2021.

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FIRSTBANK PARTNERS VERVE INTERNATIONAL, MAKES CUSTOMERS MILLIONAIRES IN THE FIRSTBANK VERVE CARD PROMO

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In partnership with FirstBank – Nigeria’s premier and leading financial inclusion services provider – Verve International, Africa’s leading payment technology and card business, has launched its third National Consumer promo designed to reward users of FirstBank verve card with exciting gifts and cash prizes to appreciate their patronage and use of the card to carry-out their electronic banking transactions.

The ongoing 2-month promo will end on 30 October 2022 as 20 customers (10 customers per month) with the highest transaction count during the promo will be made millionaires, winning the sum of N1 million each. Also, N20,000 will be won by 25 customers monthly.

On the other hand, 2620 FirstBank verve cardholders that double their transactions every week, stand a chance to enjoy 10% cashback capped at N2,000 per customer.

Speaking on the promo Chuma Ezirim, Group Executive, e-Business & Retail Products, FirstBank said “we appreciate our partnership with Verve Card through the years; a partnership of empowerment and opportunities which include growing the economy, supporting new businesses and preventing unemployment. FirstBank verve card holders are encouraged to keep using their cards as it is a card offering that promotes safe, convenient and rewarding digital banking experience with 20 customers standing a chance to be millionaires at the end of the promo.”

Verve card is a secure debit card that allows cardholders to conveniently meet their daily financial needs such as payment for goods and services, airtime recharge, bill payments, funds transfer, etc. Verve card is accepted across all ATMs, POS, Web and Mobile Platforms in Nigeria.

The promo is also opened to new verve cardholders as non-verve cardholders are encouraged to visit the nearest FirstBank branch today to pick up a Verve card and start getting rewarded!

Only recently, FirstBank – in partnership with Verve – rewarded over 2601 FirstBank verve cardholders with various prizes; including N20,000 cash prize, N10,000 cash prize, N10,000 worth of airtime; power generating sets, refrigerator, cooking gas, smart TV and the grand prize of a brand-new car to a lucky winner.

 

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