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Customer Service Is Key To Our Success – Mr. Ade Adebajo, MD/CEO, UT Financial Services

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By: Michael Effiong

Ten years ago, a new non-bank financial institution, UT Financial Services Limited  berthed in Nigeria.

The company which had earlier operated in Ghana wanted to extend its track record of excellence to Nigeria and it has been an exciting journey so far according to MD/CEO, Mr Ade Adebajo.

According to him, the journey so far has been very tremendous and good, “we’ve had lot of victories. As with everything in life, you have the good and bad times, we have had recession times in this country but all through, UT financial was able to navigate the tide and still standing where others fell”.

He continued “There was a transition of management just about 2 years ago, even at the time, I was in the United Kingdom, I had my own company Crusader Financial services but we decided to come and buy into UT. We have become stronger as a brand, when we combine our efforts with those of the people of Ghana and the ethics that were laid down, that transition was very smooth and very excellent.

He noted that the founder, Prince Kofi Amoabeng, is a man of very strong ethics, principled, a visionary leader, adding that having built a built a strong brand, they met a strong foundation on ground.

Adebajo revealed that the environment of the company is friendly and that “our culture and has helped in impacting a lot on the staff and clients.

He continued “We are a company that cares, that is how we are seen, how we have trained our staff and the way we operate at UT. We make sure to always be customer focused.

As expected, the company rolled out the drums to mark this momentous occasion. It was days later that we had this interview with Mr Adebajo over drinks at Raddison Blu Hotel, GRA, Ikeja.

Congratulations on your 10th anniversary, how has the journey so far been?

UT financial started 10 years ago in Nigeria, it came originally from Ghana, they wanted to have a branch of their bank here but it came as a non-bank financial institution; so, they ran it well and developed it with good culture, the ethics was good as well.

But at a point in time, they felt they needed Nigerian partners to move things forward, you know you get to a certain level and especially it is not your own place, you need local participation to move things forward.

I was in UK as a Nigerian running a successful firm; so, they approached me and I decided to buy into the company and I looked at the books and everything was good, and this was just about 3 years ago.

When we bought into the company, of course we became partners but I took over management having taken the majority share of the company since then it has been a very smooth sailing.

What really helped was that I met good things on ground, the staff were good, the culture I met on ground was very strong, there was professionalism among the staff and even the books were good.

We have moved on now steadily, we have started a branch in Abuja, opened another in Victoria Island, there was a branch in Yaba. And then, we have expanded in terms size and staff.

So, UT has really grown over these years and we have been able to recover a lot of loans that were outstanding prior to our takeover. Thank God that the journey has been very good so far.

What will you say were the challenges that you faced when you took over?

There are always challenges, over the past few years in Nigeria, Nigeria went through a period of recession, a lot of finance houses closed down but what we did at that time was we actually worked on our expenditure and our cost.

We reduced it, we downsized a lot of things, we had to adapt to the situation of things that we found our self; so, once we did that, we were in a comfortable position and then we began to look outside for other avenues to make revenue apart from what UT was normally used to. And that gave birth to UT Homes and a few other things; so we have UT and we expanded our income streams.

We looked at small and medium enterprises that we could support and helped them which turned out in our favour.

Ok, you talked about a lot of financial houses that went under, so what would you say is unique about UT?

What is very unique about UT? First and foremost, our products are very good, very competitive but products alone cannot sustain a company but culture of a company with professionalism of its staff on how to treat your clients because remember that in all, the client is key,

When the clients are happy with you, you will flourish. For example, in the recession period, we went to some of our clients and told them that we have to vary the rates we offered and explained that if we continue with this rate we will go under, they understood.

That was able to happen because we have built trust in our client.

But if we had shown panic and they saw we cannot survive, they would have left us.

Our strength is that we do not joke with customer service. They know that we care. That is the unique thing about us.

You must build good relationship with your clients, we had a caring relationship, most of our clients even after they had finished servicing their loans and whatever transactions, we go on our own and ask after their welfare to know if there is anything we can do again, that is one of the things that distinguishes this company.

You mentioned your products 2weso what are the different products that you offer?

We have various products tailored to different desires, School Fees for those who are saving towards their children school fees, we have a product for that, we have for people with small businesses looking to start a business, we have a saving plan that is geared towards getting a house, we look at your whole investment and then from that we determine which product can be affordable, we also launched another product on our 10th anniversary which is the Unique Investment Plus, it comes with an amount of money 500,000 minimum, we have lower ones but this particular one is 500,000 minimum and then we give you an extra on top of our usual interest, there is a bonus of 2%, this is just for the 10th anniversary and it will last for 3 months and I will advise that people take up this opportunity while it still there.

The offer is one of the best in the market in terms of rates. We used it to celebrate how good God has been to UT.

We also have other products for people who are set towards enjoying a holiday.

Our rate like I keep saying is the best in the market and it is the reason why people come to us.

I am interested in the future of UT, where do you see UT going at 15?

In the next five years, I see UT as a major non-banking financial institution in Nigeria, and I am saying this because we are planning towards it, already we are climbing towards there and we are introducing new products, and we are also looking at our products and improve them for the Nigeria public, we are spending a lot on technology so that people can invest and also we are developing an app so that people can also use and push UT further.

In the next five years, we hope to increase investor’s confidence. If we have investor confidence, a lot of things can be achieved.

We are 10 years today and nobody can say he knocked at our doorway and we did not pay them their money, it is a good testimony, by the time we now add all this new things with the level of training that we are giving our staff now, in the next five years I see UT as a major force in Nigeria and Africa, and when we say 10 years, I’m looking at a bank in Nigeria.

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Lagos-Calabar Coastal Highway: Prioritize Existing Unfinished Projects, Peter Obi Tells FG

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Mr. Peter Obi, the Labour Party’s presidential candidate in the 2023 general election, has advised the federal government to prioritize existing unfinished projects spread across the country instead of the Lagos-Calabar coastal highway project.

Obi, in a series of posts on X (formerly Twitter) on Monday, stated that the project was a misplaced priority given the numerous unfinished roads throughout the country.

The former governor of Anambra State mentioned that the budget allocated to the Ministry of Works is insufficient for significant progress on the country’s various unfinished roads, much less their completion.

Obi therefore, advised that the government prioritize the existing infrastructural projects in the country before embarking on any new and colossal projects like the Lagos-Calabar super highway project.

“The Federal Ministry of Works 2024 capital budget of N892,461,262,656.00, additional funding from multilateral loan projects of N94,828,535,243.00, alongside other expected contributions from sources like the China-Exim Bank and the World Bank, will not be enough for serious work on all the critical roads, some of which I enumerated above, let alone their completion.

So, why embark on another huge project that will not be completed in the next 20 or 30 years?

“To do so will only exacerbate the problem of abandoned, uncompleted projects that are not contributing to economic growth and overall development.

“Therefore, while acknowledging the potential benefits of coastal superhighway infrastructure, I urge prioritization of our existing uncompleted projects. We must allocate resources towards repairing and completing existing infrastructure.

“In any development formula, the primary focus should be on completing and rehabilitating existing infrastructure rather than embarking on colossal new projects that may never reach completion within the next 30 years,” Obi said.

Back in March, the Federal Government began constructing the 700-kilometer Lagos-Calabar Coastal Highway, designed to extend through 9 states with two spurs leading to the Northern States.

Recall that former Vice President, Atiku Abubakar, had earlier described the project as a fraud.

“Umahi had announced that Hitech would fully fund the project, and based on this, there was no competitive bidding. He (Umahi) then said that Hitech could only raise just 6% of the money for the pilot phase. This smacks of deceit,” Atiku said.

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2027 Presidential Race: Opposition Parties Under Attack

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By Eric Elezuo

While it is still a whole three years before the next general election in 2027, The Boss has learnt that opposition parties in the countries are being muffled to pave the way for the ruling All Progressives Congress (APC) to return to, and retain power.

From the Peoples Democratic Party (PDP), to the Labour Party (LP), and down to the New Nigerian Peoples Paty (NNPP), crises have engulfed the rank and files, in what a source told this paper was the attempt and making of the ruling party, APC, to decimate, destabilize and make redundant the machineries of the opposition parties.

It is believed that by 2027, the apparatuses holding together the various opposition parties would have weakened irredeemably to the extent the country would seemingly nosedive into the inglorious one party state that every civil right advocate and democrats abhor.

It is alleged that all the crises in all the opposition parties are being engineered by the President Bola Tinubu-led ruling APC, with the hope of getting the fibres of their system weakened, thereby luring the members of the crisis-ridden parties into the APC.

Slightly one year after the last presidential election, the two major opposition platforms, Peoples Democratic Party (PDP) and the Labour Party, have separately been embroiled in a crisis of confidence which has diminished their capacity to provide viable opposition to the ruling All Progressives Congress (APC).

The crises in both opposition parties got to a head. The Labour Party led by its national chairman Julius Abure held its much-opposed national convention which was boycotted by its 2023 presidential candidate, Peter Obi; its only governor, Alex Otti of Abia State; federal and state lawmakers elected on its platform, and the organised Labour.

In the Labour Labour, members have been embroiled in endless battle of supremacy with a faction led by Mr. Apapa steadily contesting the leadership of Julius Abure.

Consequently, the presidential candidate of the party in the 2023 elections, Mr. Peter Obi, reverence as a leader in the fold, noting that whatever the party faces presently, that Nigeria’s problems are far bigger than the crises in his party.

The LP has been embroiled in crises — ranging from allegations of misappropriation of funds, and leadership tussle, to calls for the resignation of the party’s national chairman.

TheCable reported that “On March 27, the LP conducted a national convention in Anambra state where Julius Abure was re-elected as its national chairman.

Obi did not attend the convention, fuelling speculations that he may be mulling over ditching the LP for another platform.

Speaking during an appearance on HaveYourSay247, an interactive online session hosted by Rudolf Okonkwo over the weekend, Obi said he is confident that the crises rocking the LP will soon be resolved amicably.

“Whatever is happening in the Labour Party is so minute compared to what is happening in the country,” Obi said.

“So, for me, it is something we will resolve amicably, and it is not anything to worry about. Let us worry about the country.

“Let us worry about how the average Nigerian would be able to have a means of livelihood to be able to eat, that should be our worry.”

Obi said he has no interest in being the party’s leader but only to make sure things are done properly.

“I don’t see what I do in politics as being the leader of any place or not. My position is that just like I always say, I am not desperate to be president of Nigeria, I am desperate to see Nigeria work because I know it can work,” he added.

“We have a more desperate situation. Parties are just a means to be able to contest elections. What is important is that being a leader of a party does not reduce the price of food.

In the PDP, the shenanigans of former Rivers State Governor, Mr. Nyesom Wike, has practically kept the party in constant crisis with many observers concluding that the now Minister of the Federal Capital Territory (FCT) is working for the APC, and is just a mole in the PDP. Wike has denied the allegation, however,

But news filtered in last week as that the immediate past Governor of Rivers State, and Minister may have concluded plans to attend the much advertised National Executive Council (NEC) meeting of the main opposition party, the Peoples Democratic Party (PDP), billed to hold on Thursday, in Abuja.

Impeccable source, who is in the know, told The Boss that the minister, whose membership of the PDP is yet to be revoked even as he frolicks with the ruling All Progressives Congress (APC), and serving in the President Bola Tinubu government as a minister.

The Source told The Boss that Wike’s impending presence at the NEC meeting on Thursday was not unconnected with plans, already hatched with some governors, to weaken the opposition PDP.

“Yes, we have on good authority that FCT minister, Wike is planning to attend the NEC meeting tomorrow all in a bid to weaken the fabrics of the PDP, and pave the way for the continuation of the Tinubu administration come 2027, and by extension, relapse Nigeria to a full blown one party state.

“From every indication, Wike and his co-travellers, are bent on unleashing the same crisis ravaging the third force, Labour Party, and Senator Rabiu Kwankwaso’s Nigerian National People’s Party (NNPP) on the PDP for the APC to remain the only political party in the country, and ensure that Tinubu has no challenger, come 2027,” the Source said.

It would be recalled that Wike has boasted over and again that there’s no opposition against Tinubu’s re-emergence in 2027, and that they have made sure of that. He has been compensated with the Ministerial job after he withdrew support for his party, and supported the APC and Tinubu to emerge as national government.

The Source further revealed that in the attempt to actualize the intended one party  state, a lot of funding is ongoing to ensure that concerned stakeholders are ‘settled’ handsomely.

Wike, prior, during and after the 2023 general elections, has been floating in between the two major political parties; the APC and the PDP. While he claim to still be a member of the PDP, he is functioning as a minister in an APC government, mocking the inability of his party to discipline him.

While political stakeholders concluded that the outcome of the Thursday’s PDP NEC meeting will determine the path Nigeria’s political trajectory will take, and that it may portend the end of multi-party system and political democracy if Wike succeeds in his plan; every page of what finally transpired at the meeting pointed to the fact.

The much touted removal of the party chairman, who is believed to be a crony of the Abuja minister, Damagum, retained his seat, with his executives.

“It is very clear to everyone that a lot of money politics is being played to cajole many loyal members of the party, forcing them into frustration, and eventually it of the party. The option afterwards, will be the APC. This, will for all intent and purpose actualize the intended one party state as an APC agenda.

The Musa Rabiu Kwankwaso-led NNPP is not faring better either. The only governor under their ticket, Abba Kabir Yusuf, just had the confidence of their party on him withdrawn. He was fighting for his political life until suddenly it was announced the the APC in Kano has collapsed its structure into the NNPP.

“This is just another APC strategy to actualize their hidden intentions. Time will reveal the very sinister agenda they harboring,” an analyst said.

Much as 2027 is still three years away, but intrigues are in play to render Nigeria a one party state, and perpetuate the APC in power. The three other opposition parties are basically under attack to bring to pass this unpopular agenda.

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Akwa Ibom Government, Governor Umo Eno Receive Top Honors at the 10th Wonders of the World Expo in Lagos

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The Akwa Ibom State Government and Governor Pastor Umo Eno were recognized with Travellers Awards at the 10th Wonders of the World Expo in Lagos for their sustained enhancement of infrastructure, support for local talent, and dedication to investment in the tourism sector. The ceremony took place at the National Museum in Onikan, Lagos.

 

While Akwa Ibom won the Most Active Tourism State of the Year, Governor Eno was adjudged the most Tourism-Friendly Governor of the Year at the event that had Minister of Tourism, Mrs. Lola Ade John in attendance.

 

According to Amb. Ikechi Uko, Founder/Publisher of ATQ Magazine, the organizers of the event which is in its tenth edition, Akwa Ibom State won the top prize “in recognition of its valiant and resourceful efforts to drive and sustain domestic tourism by promoting the industry.

‘In 2023, Akwa Ibom was one of the states that hosted World Tourism Day (WTD ) events. The state also organized the famous Christmas Unplugged, which featured music, food, and cultures from all 31 LGAs as well as ensured friendly policies.”

 

While hoping that the Travellers Awards would spur Akwa Ibom to do more to dominate the domestic tourism industry, the organizers hoped that the state would gradually evolve into one of Nigeria’s top international tourism destinations.

 

That was not all, the state Commissioner of Culture and Tourism, Sir Charles Udoh was also recognized as one of the Top 100 Tourism Personalities in Nigeria for demonstrating exceptional leadership and innovation in the travel and tourism industry, while other Akwa Ibom indigenes and entity were also celebrated: Mrs. Ime Udo, Honorary Special Adviser to the Governor( Tourism) won Tourism Promoter of the Year, Favour Udo won Tourism Photographer of the Year, Loretta Effiong and Prince Uduak Sunday (Qua Tours) were listed among the Tourism Personalities of the Year and Ibom Air won Airline of the Year International.

In his remarks, Sir Charles Udoh, who represented the Governor at the event, thanked the organizers for the awards and noted that Akwa Ibom is certainly enjoying the golden era when it comes to tourism development. He stated that Governor Umo Eno is very keen on making Akwa Ibom a leading tourism destination with his programmes and policies.

He revealed that with the new Victor Attah International Airport nearing completion, the purchase of a ferry for the Oron-Calabar route, new developments along its coastline and the restoration work that will be done at all its major tourism sites, Akwa Ibom is well on the way to becoming the number one destination for all domestic and foreign tourists.

In her speech, Tourism Minister, Mrs. Ade John hailed the organizers for hosting the Expo, where practitioners were lectured by top experts while also rewarding those who have excelled in the past year.

 

She affirmed that her ministry is open to partnership with public and private sector operators, adding that tourism development can only be successful through collaborative efforts.

 

The event, which attracted leading and budding tourism professionals, also featured interactive and entertainment sessions.

Apart from Sir Charles Udoh and Mrs. Ime Udo, the Akwa Ibom State delegation, also included: Mr. Michael Effiong James, Senior Special Assistant (Lagos Liaison) to Governor, Mrs. Eme Bassey, Special Assistant to Governor (Lagos Liaison) and Akparawa John Offiong, Deputy Director ( Culture) Ministry of Culture and Tourism.

 

More photos below:

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