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UBA Wins ‘Bank of the Year’ at Independent Newspapers Awards

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Pan-African financial institution, United Bank for Africa (UBA) Plc added to its growing list of laurels at the Independent Newspaper Awards, winning the Bank of the Year.

The bank was announced winner of the coveted awards at a glamorous event which was well-attended by the top echelon of the financial sector including Bank CEOs, Captains of Industries and Senior financial executives. The event was held at the prestigious Eko Hotel and Suites on Saturday, May 1, 2021.

UBA’s Directorate Head, Lagos Island, Uzoechina Molokwu who represented Deputy Managing Director, Mr. Liadi Ayoku, received the award on behalf of the bank.

Commenting on the award, UBA’s Deputy Managing Director, Mr. Liadi Ayoku who expressed his delight on the recognition stated:  ‘These awards mark another milestone for the UBA Group and is a testament of the diligent execution of the bank’s strategic initiatives on customer service. For us, being recognised as Bank of the Year complements positive feedback from customers and is a recognition of our improving efficiencies, service quality and innovation.

Continuing, he said, “I therefore dedicate this award to our growing loyal corporate and retail customers, who are our essence. Given our heritage and commitment to Africa’s development, we continue to impact lives through our services as well as our financial support to individuals, businesses and government.”

Ayoku pointed out that the pan-African bank remains focused on its goal of democratising game  banking in Africa, leveraging on new technologies and emphasised its determination to change the narrative of financial services on the continent.

While presenting the awards to the bank, the Editor, Independent Newspapers, Don Okere, noted that UBA has excelled in the key areas of prioritising customers, which, according to him, has earned the bank the highly coveted laurel.

He explained that the bank stood out in prioritising customers and improving its technological offerings to accommodate the growing needs of its customers.

He said that even though Africa’s economic landscape has been unpredictable in recent times, a factor that has resulted in business challenges in Nigeria and some of Africa’s best performing economies, UBA was still able to find its rhythm and excelled as is evident from its recently released first quarter results.

United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty 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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Court declines to dismiss case against MTN, others

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The Federal High Court in Lagos has ruled that HEDA Resources Centre has a right to institute the case against ATC Nigeria Wireless Infrastructure Limited and MTN Nigeria.
It is over the construction of 2,500 base transceiver stations across Nigeria for MTN’s operations within proximity to the base trans-receiver stations that belong to IHS Towers Nigeria.

When the matter, FHC/L/CS/2359/2023, came up for hearing on March 8Justice Bogoro disagreed with MTN Nigeria’s position.

The telco queried HEDA Resources Centre’s locus in instituting the case and ruled that the matter, being a public interest action, gives the civil society organisation the locus standi to bring the suit.

By refusing to grant MTN’s application to dismiss the suit, the court agreed that HEDA has a valid cause of action and that it has the legal basis to bring the action against the Federal Ministry of Environment, MTN, ATC and others.

HEDA Resource Centre, a CSO active in the promotion of sustainable development and protection of the environment, in the public interest case, seeks to stop MTN Nigeria and ATC Nigeria from citing new base stations where there are already existing base stations nearby, based on health and environmental concerns.

The court adjourned the hearing of ATC’s preliminary objection challenging the competence of HEDA’s suit as well as the hearing of HEDA’s application for interlocutory injunction to April 22.

 

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EFCC FILES N84BILLION MONEY LAUNDERING CHARGES AGAINST YAHAYA BELLO, OTHERS

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The Economic and Financial Crimes Commission, EFCC, on Thursday, March 14, 2024 dragged former Kogi State governor, Yahaya Adoza Bello before Justice James Omotosho of the Federal High Court, Maitama, Abuja for alleged N84billion money laundering offences,  alongside his nephew Ali Bello, Dauda Sulaiman and Abdulsalam Hudu.

The EFCC is prosecuting the quartet on an amended 17-count charge of money laundering, breach of trust and misappropriation of fund to tune of N84, 062,406,089.88 (Eighty-four Billion, Sixty-two Million, Four Hundred and Six Thousand, Eighty-nine Naira, Eighty-eight Kobo).

To make way for Yahaya Bello’s inclusion in the trial, prosecution counsel Rotimi Oyedepo, SAN, informed the court of an application before it for the amendment of the charges against the defendants, dated February 5, 2024, and filed the same day. He then prayed that the amended charges be read to the defendants for them to take their pleas. The judge granted the prayer, overruling objections from A.M Aliyu SAN, and Olusegun Joolawo SAN, counsels to Ali Bello and Suleiman, first and second defendants.

Count one of the charges reads: “That you, Ali Bello, Dauda Suleiman, Yahaya Adoza Bello (still at large) and Abdulsalam Hudu (still at large), sometime in September, 2015 in Abuja, within the jurisdiction of this Honourable Court, conspired amongst yourselves to convert the total sum of N80,246,470,089.88 (Eighty Billion, Two Hundred and Forty-six Million, Four Hundred and Seventy Thousand, Eighty-nine Naira, Eighty-eight Kobo), which sum you reasonably ought to have known forms part of the proceeds of your unlawful activity to wit: criminal breach of trust and you thereby committed an offence contrary to Section 18(b) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011 as amended.”

While ex-Governor Yahaya Bello and Hudu are still at large, Ali Bello and Suleiman, first and second defendants respectively, who were present in court “pleaded not guilty” to all the charges when they were read to them.

In continuation of the trial, Oyedepo  invited fourth Prosecution Witness, PW4, Yakubu Gana, counsel to the property owner and seller of a property  located in Danube Street, Maitama, Abuja which Ali Bello and Suleiman allegedly bought at the cost of N950million on behalf of ex-governor Yahaya Bello through their lawyer, Ramalan Jibril Abdullahi.

Gana said that, “we negotiated and agreed on the sum of N950million. Their lawyer, Ramalan Abdullahi,  said his clients would prefer to pay in cash and in dollars. I had to call my client to inform him because he was not in the country at that time. My client cautioned me whether I knew the buyers, and I answered I knew their lawyer way back in secondary school.

“The lawyer and the clients invited me into their office, a bureau de change office at Zone 4, adjacent to Sheraton, now Abuja Continental Hotel. They then showed me dollars in ‘Ghana must go,’ but the dollars in ‘Ghana must go’ was not up to that N950million. They said they would make it up by bringing some dollars to make it to N950million. The transaction took us almost two weeks, and the lawyer invited me to the same BDC office for confirmation, then the money was completed in dollar equivalent,” he said.

In his testimony as fifth prosecution witness,  Abdullahi told the court that though he acted as a go-between in the purchase of the property, his major assignment was to carry out due diligence on the said property which paved the way for its purchase by Ali Bello and Suleiman, his clients.

Oyedepo requested for the property’s title documents to enable him to tender them in evidence.  However, Justice Omotosho ordered him to formally apply to the defendants and thereafter adjourned the matter to March 28, 2024 for continuation of trial.

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HOW EMEFIELE ALLEGEDLY AWARDED MULTI-BILLION NAIRA CONTRACTS TO FAMILY & ASSOCIATES-WITNESS

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A Seventh Prosecution Witness, PW7, in the trial of a former governor of Central Bank of Nigeria, CBN, Godwin Emefiele on Monday, March 11, 2024 told Justice Hamza Muazu of the Federal Capital Territory, FCT, High Court, Abuja, how Emefiele allegedly signed and approved award and payments of contracts to April 1616 Investment Limited and Architekon Nigeria Limited,  companies that allegedly belong to Sa’adatu Ramalan Yero,  his wife,  Margaret Emefiele and his in-law respectively.

 The witness,  Agboro Michael, an investigator with the ICPC,  led in evidence by the prosecution counsel, Rotimi Oyedepo,SAN, was part of the investigation team that comprised the EFCC, ICPC, CCB, DSS and the Nigerian Police .  He testified on the count-charge of abuse of office and conferring  an unfair advantage to a public officer and relatives, preferred against Emefiele.

“My Lord,  these companies were awarded about 45 contracts to supply Toyota Vehicles. We were worried as investigators as to how a particular company would get bids concurrently to supply vehicles. We did our investigation, and discovered that the company was not even accredited by Toyota.

“In the companies my Lord, one has Sa’adatu’s husband and siblings as directors, and the other one has Sa’adatu as the director of the company while she is still a civil servant.

“Document ‘F1’ shows the signature and approval of the defendant to pay the sum of N854, 700,000 (Eight Hundred Fifty-Four Million, Seven Hundred Thousand Naira)  His signature was number three on the document”,  he said.  Testifying further, Michael said in ‘F3’, the defendant approved 1, 85,700,000 (One Billion, Eighty-five million, Seven Hundred thousand) for the supply of 47 units of Toyota Hilux.

While ‘F4’ was the defendants approval to purchase for the bank an armoured Toyota Avalon car at the cost of N99,900,000 (Ninety-Nine Million, Nine Hundred Thousand Naira), and ‘F5’ was the approval to procure two units of Toyota Hilux for the bank, and all were bought from April 1616 Investment limited.

Speaking on the findings of the investigative team on exhibit P26, page 86 of 107 on November 6, 2021. Michael said; “It is a credit into the account from the CBN to the tune of N41, 943, 400, 34 (Forty-one Million, Nine Hundred and Forty-three Thousand, Four hundred and Thirty four kobo).

“Page 87 was also a credit in April 2016 from the CBN, N304, 853, 50 (Three Hundred and Four Million, Eight Hundred and Fifty Three Thousand naira, Fifty kobo).

“26 January, 2021, April 1616 Investment Nigeria limited also received N304, 853, 720, 55 (Three Hundred and Four Million, Eight Hundred and Fifty Three Thousand Seven Hundred and Twenty Naira Fifty-Five kobo) from the CBN.

“On the 10th of February, 2021, the CBN paid N201, 23, 323, 31 (Two Hundred and One Million, Twenty-Three Thousand, Three Hundred and Twenty-Three Naira, Thirty-One kobo).

The approval of payment of March 24, 2021 was  N304,843,720,85, April 27, 2021 was 60,976,744,17 (Sixty Million, Nine hundred and Seventy Six thousand, Seven hundred and forty-four naira, Seventeen kobo) May 31, 2021 was a payment of 60,976,744,17 (Sixty Million, Nine hundred and Seventy Six thousand, Seven Hundred and Forty-four Naira, Seventeen kobo), and February 21, 2021 was a payment of N50,547,508,30 (Fifty Million, Five Hundred and Forty-Seven Thousand, Five Hundred and Eight Naira Thirty kobo) were equally approved by the defendant.

The witness further told the court that the team recorded the defendant’s statement under caution and video recorded in a conducive environment.

Testifying further, the witness said; “In 2019, again,  we discovered the defendant also used his office and position to confer a corrupt advantage to one of the staff of CBN, Sa’adatu Ramalan Yero to supply  one unit of Toyota Land Cruiser V8 at the cost of N73, 800,000 (Seventy-Three Million, Eight Hundred Thousand to her company April 1616 Investment Nigeria limited where she is a director, and equally a director in the CBN.

“Again my Lord, the defendant also approved the payment of renovation of the CBN Governors’ residence at No 2. Global road, Ikoyi Lagos to a company named; Architekon Nigeria Limited where his wife and brother-in-law are both directors.

“Sometime in 2020, the defendant used his position as CBN Governor to confer on his wife and brother in-law corrupt advantage by awarding their company landscaping of the CBN governor’s residence in the sum of N39,46,000 (Thirty-Nine Million, Forty Six Thousand Naira”,he said.

Continuing, Michael said a contract to procure furniture items was also awarded to his brother in-law in the sum of 97,000,000 (  Ninety Seven Million Naira), and again, a contract to procure a power line at the same CBN Governor’s residence in the sum of N68,568,740 (Sixty-Eight Million, Five Hundred and Sixty-Eight Thousand, Seven Hundred and Forty naira).

While cross examining the witness, counsel to the defendant, Matthew Burkaa SAN queried the witness  that though there are many signatories in the memo only his client was on trial. In response, the witness told him that the defendant was on trial because he was the approving authority, while others only minuted on the documents to justify the process and didn’t  have the power to make such payments and approvals.

Burkaa also wanted to tender the defendant’s statement at the Nigerian Police force before the court,  but Oyedepo objected, stating it was a public document and needed to be certified before it can be tendered as an exhibit.  Burkaa then withdrew the document and promised to provide the true certified copy at the next adjourned date.

Justice Muazu thereafter adjourned the matter till 25 and 26 April, 2024 for continuation of trial.

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