E-Financial
20 More Millionaires to Emerge in UBA Wise Savers Prom, N60m Up for Grabs
Another set of 20 loyal customers will join the rising number of millionaires to win a whooping N1,500,000 each, in the 3rd edition of its quarterly draw for the ongoing UBA Wise Savers Promo.
The raffle draw which is set for July 31st, at United Bank for Africa’s Corporate head office will see new millionaires emerge in a transparent draw in the presence of representatives from the Consumer Protection Council, National Lottery Regulatory Commission and the Lagos State Lottery Board.
“This is yet another great opportunity for new and existing customers to take the chance and get closer to their dreams. This will also add to the growing number of millionaires who have benefitted from the ongoing Wise Savers Promo as a whopping N60 Million is still very much up for grabs” said Dupe Olusola, group head Marketing, United Bank for Africa,.
“To qualify for the draws, new and existing customers of the bank are expected to save at least N10,000 each month for three consecutive months before each draw date. Alternatively, they can make a one-time deposit of at least N30,000 to be saved for 90 days. The promo will run all through 2019 and a total of 80 people will have ultimately become millionaires at the end of the year.”.
She added that at the last draw, the lucky winners, who cut across all regions of the country, have joined the millionaires club in Nigeria. They are: Alli Abiodun Ganiu, Tari E Francis, Onah Joseph, Okwandu Faith Ezinne, Igwedinma Chiedozie Onyekachi, Mgbakor Edmund Eke, Nwokoye Adeseye Ifeanyichukwu and Achi Sheyin Michael. Others are Onyekwuluje Christiana Osho, Ibilola U Okeke, Amos Luka, Mukhtar Halima, Musa Abubakar, Olanrewaju Kolade David, Okongwu Hillary Chidinma, Loretta O Okodua, Adeyemo Biodun Adeola, Oyewusi Oyeyinka Abidemi, Adeola O Adewumi and Anyanwu Vivian.
The promo, which commenced in September 2018 has already seen 40 customers winning N60m in the two previous draws and is expected to run till September 30, 2019 where another 40 customers from across the country will become millionaires, winning another N60 million in the remaining two draws of the promo. The much anticipated draw come July 31st, will see UBA reward another 20 with N30million
Mr. Ayo Liadi, executive director, Lagos & West Bank, while speaking on the forthcoming Raffle draw, noted that a lot of lives have been positively impacted, from the previous draws where 40 people went home with N1,500,000.
According to Liadi: “the Wise Saver’s promo is no doubt genuine proof of how a bank that prioritises the growth and development of its customers, helps them grow and actualise their dreams. We are happy and impressed with the lives that have changed for good since we commenced in September 2018. Knowing full well that our job is not complete until our customer succeeds, we are now motivated and inspired to do more, so our customers can more easily achieve their dreams and goals in life. I am pleased that this cash prize can go a long way in the lives of many, to this end, UBA can only enjoin many more customers to be part of the promo, you never can tell, it could be you”.
E-Financial
SEC to Strengthen Borrowing Framework for Governments, Corporates
The Securities and Exchange Commission (SEC) has pledged to enhance its regulatory framework for borrowing by government entities and corporate organizations.
Emomotimi Agama, Director General of SEC, revealed this in an interview, where he emphasized the pivotal role borrowing plays in sustaining the financial system and fostering economic growth.
He highlighted the need for strategic management of resources, particularly in light of the Supreme Court’s recent ruling mandating direct federal allocations to Nigeria’s 774 local government areas.
Agama stated, “Improving the framework for borrowing is very important because borrowing is part of the financial system, and we can only make much of the move we want to make if there is enough funding.
“Hence, we want to ensure sustainability in both government borrowing, especially for municipal and state governments, given the new Supreme Court order regarding local government allocations.”
He further stressed the importance of structured borrowing in supporting development across sectors. For corporate organizations, the SEC DG noted that the Commission is revolutionizing the landscape with the introduction of new rules on Central Counter Parties (CCPs).
“As a Commission, we have established those new rules, and they will become operational in 2025. Our aim is to make borrowing a seamless and effortless process for Nigerian companies,” he said.
Agama added that SEC was also committed to diversifying the Nigerian capital market, which had long been dominated by a mono-product focus. He disclosed plans to introduce derivatives trading in 2025, supported by enabling laws and regulations to foster growth and confidence.
“To build confidence in derivatives trading, we aim to provide clear exemptions for these transactions from general insolvency laws, creating a safer and more predictable trading environment. By doing this, we hope to attract more players and provide new opportunities for every Nigerian,” Agama concluded.
The SEC reiterated its commitment to creating a safer and more robust trading environment to strengthen the Nigerian capital market and support sustainable economic development.
E-Financial
GTCO Completes First Phase of Capital Raise Initiative with N209bn
Guaranty Trust Holding Company Plc (“GTCO Plc” or the “Group”) (NGX: GTCO) has successfully completed the first tranche of its equity capital raise programme, following the completion of the capital verification exercise conducted by the Central Bank of Nigeria (CBN) and the approval of the Basis of Allotment of the Offer by the Securities and Exchange Commission (SEC).
The Offer, which garnered substantial interest from domestic retail investors, raised a total of N209.41 billion from 130,617 valid applications for 4,705,800,290 ordinary shares, fully allotted.
This milestone concludes the first phase of GTCO’s phased equity capital raise programme, which is structured on a balanced allocation strategy based on an equal split between institutional and retail investors.
This balanced approach aligns with GTCO Plc’s commitment to fostering a well-diversified and robust investor base.
Commenting on this phase of the recapitalisation exercise, Segun Agbaje, Group Chief Executive Officer of GTCO Plc, expressed his gratitude, saying:
“We extenour sincere appreciation to our new and existing shareholders, as well as the regulatory authorities, for their unwavering support during this initial phase of our equity capital raise.
“The strong participation and successful capital verification exercise and allotment process reaffirm the confidence investors have in our fundamentals and execution capabilities.
This sets a solid foundation for accelerating our strategic roadmap, which aims to pivot the Group for transformational growth and unlock greater value across the Group’s Banking and NonBanking businesses.” GTCO Plc continues to lead its peers in key profitability metrics and financial performance.
Building on this successful first phase, the Group will commence the second phase of its recapitalisation plan in 2025, which is strategically positioned to attract significant foreign institutional investments, reinforcing its reputation as a “Truly International” financial services brand.
Proceeds from the combined equity raise will be strategically deployed to recapitalise the Group’s flagship subsidiary, Guaranty Trust Bank Limited (GTBank Nigeria), enhancing its ability to meet regulatory requirements and further solidify its position as a leading financial institution.
Additionally, the funds will support Group-wide growth initiatives, including footprint expansion, product enhancement, and innovation across both Banking and Non-Banking subsidiaries.
GTCO remains committed to delivering sustainable value to its stakeholders and driving innovation across the financial services landscape in Africa.
E-Financial
UBA Ranks Among Top 5 Banks in KPMG 2024 Customer Experience Survey
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has cemented its position as a leading customer-centric institution, emerging among the Top 5 banks, in various survey’s segmentation, in the recently released KPMG 2024 West Africa Banking Industry Customer Experience Survey.
The survey showed that the bank earned an impressive second place in SME Banking as well as a third place in Retail Banking, marking a significant leap in rankings that highlights UBA’s transformation under its Customer First (C1st) philosophy.
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has cemented its position as a leading customer-centric institution, emerging among the Top 5 banks, in various survey’s segmentation, in the recently released KPMG 2024 West Africa Banking Industry Customer Experience Survey.
The survey showed that the bank earned an impressive second place in SME Banking as well as a third place in Retail Banking, marking a significant leap in rankings that highlights UBA’s transformation under its Customer First (C1st) philosophy.
The survey results showcase UBA’s remarkable transformation in customer experience over the past year. For instance, in Retail Banking, the bank rose to third place up from the14th place recorded in 2023, while in SME Banking, it jumped to second position up from 6th place last year.
The bank also made notable progress in Corporate Banking, climbing to fourth place from 8th in 2023. These milestones underscore the bank’s ability to consistently exceed customer expectations and deliver unmatched service across all its business segments.
Speaking on the achievement, UBA’s Group Managing Director/CEO, Oliver Alawuba, said: “This recognition is a testament to our ability to turn aspirations into achievements and challenges into victories. At the heart of this success lies our unwavering commitment to the Customer First (C1st) philosophy. It is not just a slogan but the essence of who we are. Through C1st, we’ve redefined customer satisfaction, delivered value, and earned the trust and loyalty of our clients.”
Alawuba who credited UBA’s success to the dedication of its employees, said, “From retail branches to corporate offices, from technology teams to front-line staff, every effort contributed to this extraordinary transformation. I extend my heartfelt gratitude to our exceptional team for making this possible.”
According to the GMD, UBA has for several years, placed its customers at the centre of its operations, guided by its six pillars of Customer Experience: including Integrity- Building trust through honesty; Resolution- Promptly addressing customer concerns; Expectations-Anticipating and exceeding customer needs; Time and Effort- Simplifying processes to save time; Empathy- Demonstrating genuine care and understanding as well as Personalisation- Delivering tailored solutions.
He added that these principles have reshaped how UBA connects with its customers, fostering trust and deepening loyalty across its diverse markets.
While celebrating this milestone, the GMD disclosed that UBA remains committed to becoming the undisputed number one across all segments, adding that the bank aims to achieve this through deepened customer relationships, strengthened processes, and continuous innovation.
“The world of banking is evolving rapidly, and customer expectations are at an all-time high. To lead in this dynamic landscape, we must stay agile, innovative, and unwavering in our commitment to excellent service. Together, we will set new benchmarks and deliver unparalleled value to our customers,” he stated.
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.
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