E-Financial
UBA Wins Social Infrastructure Deal of the Year Award

United Bank for Africa (UBA) Plc Pan-African financial services group, has won the African Investor (Ai) Social Infrastructure Deal of the Year award.
The award was announced at the Ai CEO Infrastructure and Sovereign Investment Summit in Cape Town, South Africa last week.
Now in their 8th year, the highly sought-after Ai Infrastructure Investment Awards formally recognises achievements across the main infrastructure sectors in Africa, and reward the institutions and personalities driving transactions and improving the continent’s infrastructure investment climate.
UBA was given the award for its significant investment in social infrastructure across the continent in building the economic capacity of the communities in which it does its business.
Commenting on the awards, Phillips Oduoza, group managing director/CEO, said it was a reflection of the bank’s commitment to supporting the growth of critical sectors of the African economy with its financial expertise and strong balance sheet.
“Infrastructural development is important is driving and sustaining Africa’s growth momentum. Over the years, we have built the expertise to package and support the right infrastructure deals that deliver value to the majority of Africans and support economic growth. We are happy that this award recognizes the significant efforts we have made in this direction”
Also commenting on the Awards, Hubert Danso, Ai’s chief executive officer and vice chairman said, “Showcasing Africa’s infrastructure investment success stories is critical to creating references and increasing the required finance and institutional infrastructure investment to develop and implement the continent’s unparalleled infrastructure investment opportunities. Africa investor is therefore delighted to host these unique awards and congratulates the winners and all those that entered and participated in these important Ai Awards.”
The Social Infrastructure deal of the year award is third award UBA is winning in the last one month. The bank, in May 2015 won the Corporate Affairs Commission (CAC) Corporate Citizens Award in the ‘Extensive Compliance Category at the maiden edition of the awards ceremony organised by CAC in Abuja.
The Corporate Citizens Award, which is open to all registered companies in Nigeria, promotes the culture of good corporate governance in the Nigerian environment by recognising corporate citizens that have conducted their affairs in compliance with statutory requirements and best practices.
In the same month of May 2015, UBA Foundation, the corporate social responsibility arm of UBA Plc, also won the inaugural “Spirit of Lagos Citizens’ Day Award” in the Business and Corporate Organisations category.
The Citizens Day award is set aside by Lagos State to recognize and celebrate individual and corporate citizens doing extra-ordinary work in their communities, businesses and the public service.
UBA is a highly diversified financial services institution and leading provider of innovative e-banking solutions across Africa.
UBA is one of the largest financial institutions in Africa, with offices in New York, London and Paris.
The UBA Group has strong retail penetration across the African continent with more than 8 million customers.
These customers enjoy a bouquet of products and services tailored to meet their different financial needs backed by cutting edge technology that offers secured and convenient real-time online banking services.
E-Financial
Smartcash PSB Launches Access to Instant Motor Insurance via Leadway Assurance

In continuation of its mission to make financial services simpler, faster, and more accessible, SmartCash Payment Service Bank, a subsidiary of Airtel Nigeria, has announced a strategic partnership with Leadway Assurance to offer Smartcash users an effortless access to Leadway’s mobile-friendly motor insurance service.
Starting from ₦15,000, this new offering provides a convenient and affordable way for motorists to stay protected and compliant with national insurance requirements. With this collaboration, new and existing Smartcash customers can now acquire or renew two types of Leadway Assurance motor insurance: the Third-Party Insurance and AutoBase Comprehensive Insurance, directly on the Smartcash app or by dialling *939#.
While the third-party motor insurance plan offers the legally required minimum cover, protecting motorists from liability for damages or injuries caused to others, the AutoBase Comprehensive Insurance plan extends that protection to cover the user’s own vehicle in the event of accidents.
Commenting on this partnership, Chief Executive Officer, Smartcash PSB, Tunde Kuponiyi highlighted the importance of the collaboration in driving convenient and inclusive insurance access for Nigerians.
“At Smartcash, our goal has always been to bring inclusive financial solutions closer to everyday Nigerians. By partnering with Leadway Assurance, we’re making it easier for motorists to insure their vehicles without stress or delays. It’s insurance that moves at your speed,” he said.
He also noted that Smartcash users can complete the entire purchase process in under three minutes, from plan selection to payment with no physical paperwork or documentation required. Customers receive instant confirmation and their digital policy documents via email, making insurance more accessible than ever.
Also speaking on the partnership, Kike Fischer, Director, Sales, Retail and Partnership, Leadway Assurance, added: “At Leadway, innovation and exceptional service are at the core of our mission to deepen insurance penetration and inclusion.
“This collaboration with SmartCash enables us to deliver real-time protection to more Nigerians via a trusted, everyday platform. It marks a bold step in transforming how insurance is accessed and experienced across the country.”
The insurance integrated service is also fully inclusive, as it works across all types of mobile phones. Users without smartphones or internet access can access the same features via USSD, ensuring nationwide reach, especially in rural and underserved areas.
This partnership reinforces Smartcash’s commitment to delivering digital-first financial services that meet the real-world needs of Nigerians. By simplifying access to essential products like motor insurance, Smartcash continues to empower users with tools that protect, support, and uplift their daily lives.
E-Financial
Fidelity Bank Refutes ₦5 Billion Bail Payment Claim, Labels Report “False”

Fidelity Bank has dismissed allegations that its Managing Director, Nneka Onyeali-Ikpe, paid ₦5 billion to evade police detention amid an ongoing fraud investigation.
The bank described the report, published by Sahara Reporters, as “malicious” and aimed at misleading the public.
The controversy arose from a recorded conversation in which Onyeali-Ikpe allegedly referenced ₦5 billion in connection with her bail.
However, Fidelity Bank clarified that the amount referenced was a bail bond signed on self-recognizance—not a direct payment to the police.
Authorities later withdrew fraud charges against Onyeali-Ikpe, with the Attorney General of the Federation citing justice, fairness, and lack of evidence implicating her in the matter.
Fidelity Bank emphasized its commitment to strong corporate governance and adherence to ethical standards.
E-Financial
CBN Suspends Dividend, Bonus Payments for Banks under Forbearance

Central Bank of Nigeria (CBN) has suspended dividend payments to shareholders and bonuses to directors and senior management staff of banks currently benefiting from regulatory forbearance.
Forbearance refers to the temporary reduction or postponement of payments, such as for loans or mortgages, usually introduced to give temporary relief to individuals, and corporations, including financial institutions encumbered by financial straits.
The directive was contained in a circular dated June 13, signed by Olubukola Akinwunmi, director of Banking Supervision, CBN.
According to the CBN, the move is part of efforts to strengthen capital buffers, enhance balance sheet resilience and promote prudent internal capital retention within the banking sector during what it described as a transitional period.
The regulatory forbearance arrangement, which allows banks some relief in meeting credit exposure and Single Obligor Limit (SOL) requirements, is currently being reviewed by the central bank in terms of capital positions and provisioning adequacy.
As part of this review, the CBN directed affected banks to suspend dividend payments, defer bonuses, and refrain from making investments in foreign subsidiaries or launching new offshore ventures.
“This temporary suspension is until such a time as the regulatory forbearance is fully exited and the banks’ capital adequacy and provisioning levels are independently verified to be fully compliant with prevailing standards,” the CBN said.
The bank added that the measure is to ensure that internal resources are retained to meet existing and future obligations and support “the orderly restoration of sound prudential positions.”
The CBN also said it will continue to monitor developments and engage with institutions as necessary.
The move comes amid efforts to tighten supervision across the financial system following recent banking sector reforms and recapitalisation directives.
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