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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As British Prime Minister Theresa May visits Nigeria and two other African countries this week, the country revealed that it had returned £70 million recovered from a Nigerian, who was convicted of fraud by an Italian court. British High Commissioner to Nigeria, Mr Paul Arkwright, revealed this while addressing reporters in Abuja, the nation’s capital.…
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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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After a video footage went viral on Friday, in which a Fidelity Bank branch manager allegedly got the police to beat up two young men who were alleged to have complained a little too loudly about the poor customer service of the bank, Fidelity Bank has come out to release the full CCTV video footage of the event and…
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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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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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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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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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United Bank for Africa Chairman Mr. Tony Elumelu, has strongly commended the Federal Government and the Central Bank of Nigeria (CBN) for their efforts in stimulating the Nigerian economy, and bringing to bear a coordinated policy response that will positively jumpstart the Nigerian economy. According to Elumelu, recent actions by the Federal Government, including greater…
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Following a closed door meeting between Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele and the Senate on Tuesday, during which a gloomy picture of the Nigerian economy was painted (read full report here), Minister of Finance, Kemi Adeosun on Thursday admitted that the country’s economy is indeed in recession. Appearing before the Senate, Adeosun who…
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