General News
Union Bank Names Okonkwo MD Designate as Emuwa Retires
The Board of Union Bank Nigeria Plc Monday announced that Mr. Emeka Emuwa, chief executive officer, will retire on March 31, 2021, after leading the financial institution for eight years.
Emeka Emuwa
According to a statement, the Board has appointed Emeka Okonkwo, executive director currently leading the bank‘s Corporate Banking business, to succeed Emuwa.
Emuwa joined Union Bank in November 2012, following a $500 million investment by Union Global Partners, with a mandate to transform and restore one of Nigeria’s oldest institutions back to its rightful position as a respected provider of financial services.
The appointment is however, subject to the approval of the Central Bank of Nigeria. Commenting on his retirement, Emuwa said:
“I have enjoyed the significant challenge of leading Union Bank over the last eight years. I am extremely proud of the management team and what we have been able to accomplish during my time as CEO.
“Today, we have a strong bank that is well positioned to compete and deliver on its vision to be ‘Nigeria’s most trusted and reliable partner.’
” With a clear strategic direction, a growing and loyal customer base and a strong brand, this is now the natural time for the next generation of leadership to take Union Bank forward and deliver further value.”
Continuing, he pointed out that with over three decades of banking, his time at Union Bank has been one of the richest experiences in a long and fulfilling career with a treasure of work and life lessons to carry into the future.
“Together as a team, we scaled many hurdles and accomplished significant feats and I would like to thank my Executive team, senior management and every one of our employees for their integrity, support and hard work that have brought Union Bank to where it is today.
“I would also like to thank the Board for the opportunity to lead this storied institution that has impacted generations of Nigerians for over a century and for supporting our efforts and vision during my tenure.
“As we begin the transition into a new era of leadership under Emeka Okonkwo, a consummate professional with the right experience and values, I know that Union Bank will continue on its path as a values driven organisation that is deeply committed to our customers and the communities we serve,” he added.
Prior to joining Union Bank, Emuwa led a distinguished 25-year career at Citibank.
Following several senior roles in Nigeria and across Africa, he became the first Nigerian to be named country officer and managing director of Citibank Nigeria.
On his retirement, Emuwa will also step down from the Board of Union Bank.
In her comment, Beatrice Hamza Bassey, Union Bank’s chair, said: “On behalf of the Board, I would like to thank Emeka Emuwa for leading Union Bank during the last eight years. His exceptional contribution to the transformation of then business produced excellent results and set a solid platform for growth.
“The focus over the last eight years on technology transformation, digital innovation, and development of diverse markets for our world class range of products, has seen Union Bank well positioned to continue growing from its current position as a market disruptor.
“Amid a tough macroeconomic environment, Union Bank maintained steady operational momentum under Emeka’s leadership which in 2020 culminated in the first dividend payment to investors and shareholders in over ten years.
“His many significant achievements, including providing steady stewardship during the unprecedented challenges wrought by the COVID-19 pandemic, lays a solid springboard for the future.
“We wish him the very best and are grateful for his support and commitment to ensure a successful transition over the next few months.”
She said the Board was pleased to have Okonkwo as incoming CEO, noting that having been a key contributor to the achievements of the bank over the past seven years as an Executive Director, Okonkwo was well suited to lead Union Bank’s next phase of growth.
“The Board and I look forward to working with him to execute our strategy and deliver value to all stakeholders in the years ahead.”
Okonkwo is a seasoned banker with 30 years of experience.
He joined Union Bank in 2013 as an Executive Director to lead the Corporate Banking and Treasury business. As the bank embarked on its transformation, he was responsible for rebuilding the business and strategically positioning Union Bank for success in the Corporate Banking space.
Okonkwo began his career at Citibank Nigeria where he rose from officer level to become Executive Director in charge of Commercial Banking and Global Subsidiaries in 2009.
At Citibank, he worked across various disciplines including Corporate Finance, Credit Risk Management, Marketing, Treasury and Strategic Management in Nigeria and London.
Prior to joining Union Bank, he was the Head of the Corporate and Investment Banking Division in Citibank Bangladesh.
Emeka Okonkwo has a bachelor’s degree in Civil Engineering from the University of Nigeria, Nsukka; an MSc in Construction Management from the University of Lagos and an MBA from Warwick Business School, UK.
General News
GOMYCODE Partners Woolf University to Offer Globally Recognised Master’s Degree in Software Engineering in Nigeria
GOMYCODE, a leading technology education provider, has announced a groundbreaking partnership with Woolf University, a global collegiate higher education institution, to offer Master of Science in Computer Science with Specialization in Software Engineering to aspiring and established tech professionals in Nigeria.
This collaboration aims to provide accessible, high-quality, globally recognized education to individuals seeking to advance their careers and expand their opportunities.
The Master’s program is designed to empower busy professionals and ambitious individuals with advanced skills and qualifications, opening doors to global job opportunities and facilitating potential emigration for those seeking international careers.
“We are thrilled to partner with Woolf University to bring this exceptional opportunity to Nigeria,” said Yahya Bouhlel, Co-founder of GOMYCODE. “In today’s competitive tech landscape, advanced degrees are increasingly essential.
“This partnership allows us to provide a flexible, world-class education that empowers our students to achieve their career aspirations, whether they seek to excel locally or on a global stage.”
The program’s online, flexible structure caters to the demands of working professionals, enabling them to balance their studies with existing commitments. Students will benefit from Woolf University’s rigorous academic standards and GOMYCODE’s practical, industry-relevant approach to learning.
“Woolf University is excited to collaborate with GOMYCODE to expand access to quality higher education in Nigeria,” stated Naveen Jangir, Head of Strategy and Growth, from Woolf University. “Our mission is to democratize education, and this partnership aligns perfectly with our goal of providing accessible, accredited degrees to learners worldwide.
“We believe this program will equip Nigerian tech professionals with the skills and credentials they need to thrive in the global economy.”
Babatunde Olaifa, Country Head of GOMYCODE in Nigeria, emphasized the significance of this partnership for the Nigerian tech ecosystem.
“This collaboration represents a significant leap forward for tech education in Nigeria. By offering a globally recognized Master’s degree, we are empowering our professionals to compete on a global scale.
“This is a chance for people to level up their careers, and to open doors that they previously thought were closed.
“We are very excited to see the impact that this program will have on the lives of our students and the broader Nigerian tech community.”
This Master of Science in Computer Science with Specialization in Software Engineering program is ideal for tech professionals seeking to enhance their qualifications; Individuals aiming for global job opportunities; those considering emigration and requiring advanced degrees; ambitious individuals looking to accelerate their career growth.
GOMYCODE and Woolf University are committed to providing a supportive and enriching learning environment that fosters innovation and excellence.
The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy empowering entrepreneurs is set to announce the 11th cohort of the TEF Entrepreneurship Programme on Saturday, March 22, 2025.
The 2025 announcement comes at a critical time, as Africa’s entrepreneurship ecosystem faces funding constraints and global economic headwinds. TEF continues to provide much-needed support, empowering African entrepreneurs to transform their ideas into sustainable businesses and engines of economic growth.
Each selected Tony Elumelu Entrepreneur will receive $5,000 non-refundable seed capital, a world-class business training on TEFConnect, one-on-one mentorship, and access to global networks and investment opportunities. The selection process is being conducted by Ernst & Young, to ensure independent assessment.
The impact of the Tony Elumelu Foundation extends beyond funding. It is changing lives and shaping Africa’s future, as witnessed by beneficiaries of the catalytic TEF Entrepreneurship Programme.
Ahead of the upcoming announcement, Tony O. Elumelu, C.F.R., Founder of TEF and Group Chairman of Heirs Holdings, reiterates his unwavering belief in the potential of Africa’s entrepreneurs:
“I believe that Africa’s transformation will not be led by aid, but by empowering the next generation of African entrepreneurs—giving them the tools, the funding, the training, and the networks to build sustainable businesses that create jobs and drive economic growth.
Over the past decade, we have nurtured entrepreneurs from inception to success, scaling our impact across all 54 African countries. We have provided capital and also developed a robust monitoring and evaluation framework that allows us to track the progress of our entrepreneurs and measure their contributions to their communities and economies.
No other organisation is implementing entrepreneurship development at this scale across Africa. We have learned, we have refined, and we continue to improve, ensuring that African entrepreneurs—women and men—are at the forefront of solving our continent’s challenges and creating wealth for themselves and their communities. Entrepreneurship is the key to Africa’s prosperity. I wish the 2025 cohort of Tony Elumelu Entrepreneurs success, as they chase their ambitions, and play their part in Africa’s transformation.”
The Tony Elumelu Foundation is the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation across all 54 African countries and ensuring inclusive economic empowerment.
Since the launch of the Tony Elumelu Foundation Entrepreneurship Programme in 2015, TEF has lifted over 2 million Africans out of poverty, provided 2.5 million young Africans with access to training on TEFConnect, and disbursed more than $100millon in direct funding to thousands of African entrepreneurs who have gone on to create over 1.5 million direct and indirect jobs and generate over $4.2 billion in revenue.
Tony Elumelu Entrepreneur Testimonials from Previous Years:
“I started my agribusiness with nothing but an idea. TEF changed everything. With the funding, training, and mentorship, I have now expanded across three countries and employ 25 people.”
– Fatima Diallo, Senegal, Agritech Entrepreneur
“As a woman in the fintech industry, it was difficult to secure funding. TEF not only provided me with capital but also the confidence and skills to build a business that is now attracting international investors.”
– Mary Okeke, Nigeria, Fintech Founder
“The TEF Entrepreneurship Programme helped me commercialise my clean energy innovation. Today, we provide solar solutions to over 50,000 homes in rural Tanzania.”
– Juma Nyerere, Tanzania, Renewable Energy Entrepreneur
For more details on the Tony Elumelu Foundation’s impact visit our Impact Page, African Success Stories Page, and Annual Report Page.
For Media Inquiries: media@tonyelumelufoundation.org
National Board for Technology Incubation (NBTI) has urged the National Assembly to enact Executive Orders 003 and 005 into law to ensure full compliance by Ministries, Departments, and Agencies (MDAs).
Executive Order 003, signed by former Vice President Yemi Osinbajo, mandates MDAs to prioritise local manufacturers and service providers in procurement.
Similarly, Executive Order 005, issued by former President Muhammadu Buhari, directs MDAs to promote science, technology, and innovation in achieving national development goals.
Speaking on the necessity of these Orders, Dr Kazeem Raji, director-general, NBTI emphasised the need for legal backing to enhance enforcement and compliance.
He noted that while Executive Orders remain in effect until revoked or ruled unlawful, transforming them into legislation would strengthen their implementation and enforcement.
Raji stressed that enacting these Orders as laws would drive the adoption of indigenous technology, increase patronage of local innovations, and enhance economic growth.
“If Executive Orders 003 and 005 become laws, capital flight will reduce, foreign reserves will increase, GDP will grow, and employment opportunities will expand. These Orders will no longer be ignored, as there will be legal consequences for non-compliance,” he stated.
He emphasised that institutionalising these policies through legislation would solidify the government’s commitment to boosting local production and supporting homegrown industries.
MyLagos App Unavailable despite Launch with Fanfare
Airtel Launches AI Spam Alert in Nigeria
Allegations of Fraud against us Unfounded, False — First Bank
Nigeria’s Cash Payments to Decline 32% by 2030 on Digital Transaction Surge
NCC, ALTON, LASIMRA Engage to Strengthen Telecom Infrastructure in Lagos
General News2 days agoTony Elumelu Foundation Set to Announce 2025 Cohort of TEF Entrepreneurship Programme
E-Business3 days agoMillions of Nigerians @ Risk as NASIMS Leaks over 23m FG Records
Telecom2 days agoAirtel Launches AI Spam Alert in Nigeria
Broadcasting3 days agoSpotify Earnings for Nigerian Artists Exceed ₦58 Billion in 2024
E-Financial2 days agoAllegations of Fraud against us Unfounded, False — First Bank
E-Business2 days agoMyLagos App Unavailable despite Launch with Fanfare
E-Business3 days agoKaspersky Uncovers Cybercriminals Blackmailing YouTube Creators to Spread Cryptocurrency Mining Malware
Telecom3 days agoNANS Issues Fresh Protest Notice over Telecom Tariff Hike