Tag Archives: Economy

MTN Fires Back After CBN Sanction, Claims Paid Dividends Were Approved

In a statement on Thursday, MTN denied the allegations of illegal funds repatriation leveled against it by the Central Bank of Nigerian(CBN), claiming that it illegally converted shareholder loans to preference share and repatriated $8.1 billion as dividend saying all dividends it paid to its shareholders between 2007 and 2015 were approved by the apex bank. Contrary to the…

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UPDATE! Zenith Bank Confirms EFCC Arrest Of GMD, Peter Amangbo

Zenith Bank confirms that it’s Group Managing Director, Peter Amangbo, is in the custody of the Economic and Financial Crimes Commission (EFCC). (See previous post here). The bank released a statement signed by its Head of Corporate Communication, Victor Adoji, on Tuesday claiming Amangbo was “invited”(although reports reaching us say he was indeed arrested) by the anti-graft agency in relation…

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Nigerian Economy Is Still In Recession – Yemi Kale

The Statistician-General of the Federation, Yemi Kale, has said Nigeria’s economy has not recovered from the 2016 recession. Kale, who is also Chief Executive Officer of the National Bureau of Statistics, said the conflicts between farmers and herdsmen had dragged down the Gross Domestic Product in the first quarter of 2018 according to the Punch.…

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UBA Rewards High Performance, Promotes 2,000 Staff Across Africa

In line with its commitment to reward excellence and high performance, Pan-African financial institution, United Bank for Africa (UBA) Plc, has announced the promotion and elevation of about 2000 of its work force, representing about 17% of total staff strength across the group. This is in recognition of the remarkable contribution the staff members have…

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UBA Expands Presence in London, PRA Grants Wholesale Banking Licence to its UK Subsidiary

 Kennedy Uzoka – GMD – CEO, UBA Plc United Bank for Africa (UBA PLC), Africa’s global bank, announced today that its London subsidiary has obtained regulatory permission to carry out Wholesale Banking activities in the UK. Following this authorization, UBA is now the only Sub-Saharan African bank to conduct banking activities in New York and…

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UBA Declares Profit Before Tax of N105.3 Billion

GMD -CEO of UBA Plc- Kennedy Uzoka United Bank for Africa Plc has announced its audited results for the financial year ended December 31, 2017, showing significant growth in the contribution and market share from its pan-African subsidiaries, among other positive trends in the financial performance. The pan-African financial institution’s audited results showed that gross…

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UBA Identifies with Youth, Unveils 30 Campus Ambassadors

L-R: Group Head, Cards, Digital Banking; Dr. Yinka Adedeji, United Bank for Africa, (UBA Plc), Executive Director, Risk Management & Compliance, Mr. Ike Uche;  Group Executive, Digital & Consumer Banking;  Executive Director, Group Chief Operating Officer, Operations; Mr. Chukwuma Nweke; Group Head, Retail & Consumer Banking, Mr. Tomiwa Sotiloye; Head UBA Academy, Human Capital Management, Mr.…

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President Buhari Appoints New CBN Deputy Governor

Mrs. Aishah Ahmad, a seasoned banker, financial advisor and current Executive Director, Retail/Consumer Banking at Diamond Bank Plc., has been appointed a Deputy Governor of Central Bank of Nigeria (CBN) by President Muhammadu Buhari. Ahmad, the creative and versatile top executive, who is also the current Chairperson of Women in Management, Business & Public Service,…

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2017 Budget to be Rolled Over into 2018, Minister of Finance Adeosun Reveals

Nigeria’s Minister of Finance, Mrs. Kemi Adeosun, has revealed Federal Government’s plan to roll over at least 60 per cent of 2017 capital projects to 2018 budget proposal. Adeosun made this known when she appeared before the Senate Joint Committees on Finance and Appropriations. She was accompanied by the Minister for Budget and National Planning,…

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