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UBA Group Gets Double honours… Wins CEO, 2019 Bank of the Year

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5 years ago

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Pan-African financial Institution, United Bank for Africa Plc got double honours over the weekend as it emerged the Bank of the year 2019; while its Group Managing Director/Chief Executive Officer, Mr. Kennedy Uzoka, also emerged CEO of the year at the Business Hallmark Newspaper Awards, held at the Civic Centre in Lagos on Sunday.

Uzoka beat other CEOs to the prize owing to his sterling achievement since he assumed the leadership role of the bank three years ago, whilst UBA was crowned bank of the year following its exceptional performance as it recorded impressive performance in key financial indicators in 2019.

This is the second time this year that Kennedy Uzoka has emerged CEO of the year as he had only recently clinched the Business Day Banking Awards, (BAFI). The recognitions and awards have further endorsed his visionary leadership style which has consistently earned UBA a plethora of laurels.

Receiving the awards on behalf of the bank, at a well-attended ceremony, which assembled distinguished personalities, UBA’s Executive Director, Mr. Ayoku Liadi, who represented the GMD, thanked the organisers for the recognition, noting that he was proud to work at one of the best institutions in Africa.

“We are creating superior value for all our customers, because we believe they are key to our everyday operations and this commitment, without a doubt has been yielding dividends,” Liadi said.

He continued: “Whilst we are encouraged by these awards, the recognitions present new challenges to us, as we will intensify our commitment towards setting benchmarks for the industry, particularly in our strategic roles,”

The Organiser of the awards and the Chief Executive Officer of Business Hallmark, Emeka Obasi, who spoke at the event explained that the best CEO award is borne out of the need to recognise achievements of financial executives who have been outstanding in their profession and have contributed in no small measure to the growth of their organisations and the economy at large.

Obasi also noted that the award given to UBA, is no doubt a well-deserved one, as is evidenced in the banks numerous innovations, and consistent investment in cutting edge technology giving birth to many firsts, including the launch of Leo the Chat Banker, in January of 2018. This fear has earned the bank the number one position in the digital space.

“Uzoka also did well by focusing on consistent expansion of UBA’s activities and services across and beyond the African continent”, all this is worthy of recognition.” Obasi concluded.

Just recently, UBA released its nine-month results ended September 30, 2019, closing the period with an impressive after-tax profit of N81.63bn, a growth of 32% over that of 2018, a momentum the bank will most likely sustain into the full-year, pointing to the possibility of even higher profits.

The bank’s gross earnings for 2019 nine-month stood at N428.22bn, compared to N310.45bn in 2018, representing 37.94% rise, while profit hit N81.63bn, from N61.7bn in 2018. The UBA group’s impairment charges on financial assets for the period decreased to N6.66bn, compared to N10.67bn in 2018, resulting in a decline in loan loss provision of 37.58%, thereby boosting the bank’s profit for the period.

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Former Governor Ifeanyi Okowa, Spends Second Night In EFCC’s Cell Over N1.3 Trillion Alleged Fraud

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18 hours ago

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November 7, 2024

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Immediate past governor of Delta State, Ifeanyi Okowa, who was arrested and detained by the Economic and Financial Crimes Commission (EFCC) has spent second night in the custody of the anti-graft commission.

 

Okowa is currently being investigated and detained over the alleged diversion of N1.3 trillion.

 

The N1.3 trillion reportedly represents the 13% derivation fund from the federation account between 2015 and 2023.

 

According to sources within the commission, Okowa was invited to the EFCC office in Port Harcourt, Rivers State, where he’s subsequently detained by officials.

 

One of the sources stated, “Okowa was at our Port Harcourt office following an invitation from investigators probing the allegations against him. He was then arrested. The commission is investigating him regarding the N1.3 trillion 13% derivation fund from the federation account between 2015 and 2023.

 

“He is also accused of failing to account for the funds, as well as another N40 billion he allegedly claimed was used to acquire shares in UTM Floating Liquefied Natural Gas. He reportedly bought shares worth N40 billion in one of the country’s major banks, representing an 8% equity stake, to support the offshore LNG project. The funds are alleged to have been misappropriated for other purposes.

Investigators are also examining the alleged diversion of funds by the former governor to acquire estates in Abuja and Asaba, Delta State. He is currently being held at the EFCC facility in Port Harcourt.

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Lagos Government Shuts Down Redeemed Church, Celestial Church, Clubs, Event Centres Over Noise Pollution

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1 day ago

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November 6, 2024

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The Lagos State government has shut down a branch of Pastor E. A. Adeboye’s Redeemed Christian Church of God, a Celestial church, nightclubs and event centres over noise pollution.

The Commissioner for Environment and Water Resources, Tokunbo Wahab, who made this known on Wednesday, said the churches, clubs and event centres were sealed on Tuesday by the Lagos State Environmental Protection Agency (LASEPA) in the Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota areas of the state.

The sealed establishments include: Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Lounge & Lodging, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.

The commissioner in a post on X said, “In a bid to address noise pollution and other environmental violations, the Lagos State Environmental Protection Agency (LASEPA) took action yesterday, closing down several establishments across different parts of the state.

“This enforcement drive, focusing on areas like Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota, is part of LASEPA’s continuous efforts to uphold environmental standards and safeguard public health.

“The affected establishments include Honourable Lounge & Lodging, Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.”

 

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Gen. Taoreed Lagbaja: Tinubu directs flags be flown at half-mast

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1 day ago

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November 6, 2024

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President Bola Tinubu has directed that Nigeria’s national flags be flown at half mast for seven days across the country to mourn the passing of the late Chief of Army Staff, Lt. Gen. Taoreed Lagbaja.

The late Army chief, who was appointed by Tinubu on 19 June 2023, was said to have passed away on Tuesday night after a prolonged illness.

The Secretary to the Government of the Federation, George Akume, in a statement on Wednesday by his office Director of Information & Public Relations, Segun Imohiosen, said the president expressed regret over Lagbaja’s death.

Akume said, “President Bola Tinubu has expressed regret following the death of the Chief of Army Staff, Lieutenant General Taoreed Abiodun Lagbaja, after a brief illness at the age of 56.

“The President has directed that national flags be flown at half mast throughout the country for seven days in honour of the departed Army chief.

“He profoundly appreciates the services of the departed to the nation and wishes the family the fortitude to bear the great loss.”

Meanwhile, the Ministers of Defence, Mohammed Badaru and Bello Matawalle, have commiserated with the president, the military, and Lagbaja’s family over his death.

In a statement by the Ministry’s spokesperson, Henshaw Ogubike, the ministers described Lagbaja’s death as a great loss to his family, the Army, and the nation at large.

“The passing on to eternal glory shocked us at the Ministry of Defence, as our working relationship with him was commendable; he exhibited the spirit of camaraderie and cooperation with us in the discharge of our mandate.

“The late Chief of Army Staff contributed significantly to internal security operations across Nigeria and also exhibited a high level of professionalism.

“He will be greatly missed by the family, the military, and the nation, as he served the nation with commitment and dedication,” the statement added.

 

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