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E-Financial

UBA: How Vision and Dedication Catapults an Institution to Greatness

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There is no gainsaying that having a vision and purpose, gives direction to ones hustle as well as gives flight to dreams.

UBA: How Vision and Dedication Catapults an Institution to Greatness

To put in perspective, It helps you focus on what you want to achieve and the steps you need to take, to get you there.

Without a clear vision, you may end up going in different directions, wasting time and resources.

For a number of individuals and institutions who have passionately followed this principle, the outcome has been, that of enviable success.

Individuals and organisations who get better at what they do, all over the world have constantly shown and proven that when you go at your dream  relentlessly even when it seems daunting, eventually it all comes together.

That is consistency. It helps you gain mastery of a particular skill or set of skills. Consistency opens the door to expertise and eventual greatness.

Today, the iconic success story of UBA since coming into existence 75 years ago, typifies this and is indeed an exceptional one which is a testament to vision and sheer determination and truly deserves commendation.

Whether it’s in its  first rate customers service, passion to overall wellbeing, customer satisfaction, business growth, the ability to maintain a steady course over time from generation to generation as evidenced in the overwhelming testimonials of UBA generational customers, is one that has kept the bank constantly leap-frogging competition in bounds which is why UBA continues to enjoy enduring success.

This principle is brilliantly exemplified in what  the United Bank for Africa (UBA) PLC, a financial institution which has not only survived but thrived for 75 years stands for.

Let’s look at how UBA’s unwavering commitment to excellence has allowed it to keep getting better with age.

Adapting to Change and Innovation

UBA has stayed relevant for 75 years by embracing technological advancements. From launching the first chat banking bot in Africa, the first cash deposit ATMs in Nigeria to launching the Braille account opening form for the visually impaired, The bank has continued to balance reliability with innovation.

A Legacy of Trust

While speaking during a global press conference as part of its 75th anniversary celebration, Group Managing Director, United Bank for Africa Plc (UBA), Mr. Oliver Alawuba, said: “Since 1949, UBA has continued to support and transform businesses across Africa, especially in the critical SME space. One such transformed business is Destination Global Investment, a beverage distribution company that was able to expand its business into major distributorship, through the support of UBA”.

“This he attested to the bank’s huge contribution to the growth of businesses and the bank’s unwavering dedication to its customers (C1st Philosophy) which has made it easy to build this legacy of trust and reliability”.

Alawuba also applauded the Group Chairman of UBA Group, Mr. Tony Elumelu for his visionary leadership and tutelage without which, he said the bank’s success would have been impossible.

Also, Alawuba noted that the bank remains committed to improving and facilitating intra-Africa trade, adding that the $6 billion it pledged for that purpose would be used to finance it and as well as support from Development Finance Institutions (DFIs).

“we are committed to developing Africa. We are committed to supporting the key sectors that are pushing African economies. And it is showing even in our performances and our businesses. If you look at our accounts and performance, you will see that our performance has continued to improve, reflecting clearly what we are doing.

“We don’t just support these businesses; we support all the value-chain that are tied to these businesses so that the SMEs will continue to thrive. SMEs are the future of Africa and will continue to provide support to SME businesses,” he said.

“We are committed to expanding our presence, seizing growth opportunities, and delivering value to all stakeholders. Collaboration and partnerships as exemplified by the $6 billion SME funding agreement signed with the African Free Trade Area (AfCFTA) will be instrumental in achieving our strategic objectives. We are dedicated to deepening relationships with customers, employees, regulators, and other stakeholders for mutual benefit and long-term success.

“As we embark on the next phase of our journey, I urge all stakeholders to continue their support and collaboration. Together, we will write the next chapter of success for United Bank for Africa Plc.”

Watch this space for more updates on our 75th anniversary.

 

 

 


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

E-Financial

UBA Expands to More African Cities, Stamps Footprint  in Saudi Arabia

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United Bank for Africa (UBA) has announced strategic expansion into more African countries even as it plans to open a new office in Saudi Arabia, marking a significant milestone in its mission to connect Africa with key global markets.

UBA Expands to More African Cities, Stamps Footprint  in Saudi Arabia

Oliver Alawuba, GMD/CEO, UBA group,

This emerged during the Group’s Half Year Business Review held at its global headquarters in Lagos, where Oliver Alawuba, group managing director/CEO, UBA group, met with senior executives overseeing UBA’s 24-country footprint.

The meeting reaffirmed the bank’s pan-African strategy while outlining bold new steps into global markets.

Alawuba highlighted UBA’s continued growth outside Nigeria, with more than 51.7% of Group revenues now generated from its ex-Nigerian operations.

He described the Saudi expansion as a move that positions UBA to support cross-border trade, attract investment flows, and better serve the African diaspora.

“UBA’s vision is clear—we are building a truly global institution anchored in Africa, but serving customers across continents. Our entry into Saudi Arabia signals confidence in new opportunities and commitment to supporting economic connectivity between Africa and the Middle East,” he said.

The Saudi expansion adds to UBA’s international presence, which currently includes the United Kingdom, United States, France, and the United Arab Emirates. Alawuba also disclosed that the bank is upgrading its operating licence in France to further strengthen its European operations.

“In Europe, UBA has operations in the United Kingdom and is upgrading its licence in France, expanding its capacity to serve cross-border trade, investment flows, and the African diaspora, complementing our over 40-year presence in New York,” Alawuba noted.

Since launching its pan-African journey with an entry into Ghana in 2004, UBA has expanded rapidly across 20 African countries, establishing itself as a leading driver of financial inclusion, innovation, and regional integration.

 

 

 

 

 

 


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E-Financial

Ecobank Plans to Raise $250m Capital Through Private Placement

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Ecobank Transnational Incorporated announced its plan to raise up to $250m in Additional Tier 1 capital through a private placement of contingent convertible notes.

In a statement filed on the Nigerian Exchange Limited recently, the capital raise was approved by shareholders at the company’s Extraordinary General Meeting held in Lomé, Togo. The private placement offer was launched on July 9 and will run for ten days.

“Following the approval of the shareholders at its Extraordinary General Meeting held on May 28, 2025, in Lomé, Togo, to raise up to $250m in additional Tier 1 capital qualifying instruments via a private placement of contingent convertible notes, Ecobank Transnational Incorporated announces the launch of the AT1 effective July 9, 2025, for ten days. Renaissance Capital Africa has been appointed as the transaction adviser to ETI.”

The move is an initiative aimed at strengthening Ecobank’s capital adequacy, enhancing financial resilience, and supporting its long-term growth ambitions across its diversified pan-African banking platform.

Additionally, Madibinet Cisse, Ecobank’s Company Secretary, said, “This proposed capital raise represents a critical step in our efforts to fortify the bank’s financial foundation and support sustainable growth across Africa.”

It would be recalled that Ecobank Transnational Incorporated, the parent company of the Ecobank Group, has raised an additional $125m through a Eurobond tap, bringing the total size of its 2029 notes to $525m.

 


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E-Financial

EFCC Recovers Funds Lost to CBEX Fraud

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Ola Olukoyede, chairman, Economic and Financial Crimes Commission (EFCC), has announced that the body has recovered lost funds from the CBEX fraud scheme.

EFCC Recovers Funds Lost to CBEX Fraud

Olukoyede did not announce the amount recovered, but he assured Nigerians that the EFCC is taking action against the promoters of the scheme.

The EFCC Chairman emphasised that the suspects found are facing prosecution.

“We have found a lot of people culpable. Those who promoted that scheme are within our jurisdiction and have been arrested. So, at this moment, they are being prosecuted. And we can also say that money has been recovered, even though the process is still ongoing for us to finally forfeit it,” he said.

Olukoyede also urged Nigerians to exercise caution when investing their resources into online platforms.

“Ponzi schemes remain one of the most pervasive threats facing unsuspecting investors. The CBEX case is a clear example. We all remember the outcry that followed the collapse of the scheme, but these unfortunate situations are preventable. Nigerians must begin to conduct due diligence before committing their resources to such platforms,” Olukoyede said.

He also stressed that the body remains committed to fishing out the culprits and recovering the lost funds.

“It was only when the bubble burst that people wanted EFCC to perform magic and recover their money. In the case we investigated in Lagos, which we dubbed Operation Flush, we arrested a large number of foreigners involved in various cybercrimes, including CBEX. I want Nigerians to know that as of today, we have secured close to 150 convictions. Some of them are already serving their jail terms. And when they are through with that, we are going to send them back to where they came from. So we are monitoring them,” he added.

He urged the public to stay vigilant, assuring them that the body will see the case to the end.

“We are no longer the EFCC that drops cases halfway. Whatever we start, we will finish. Nigerians should trust us and believe in our capacity to do justice. Some of these cases are complex and may require cross-border investigations, but we are up to the task,” he said.


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