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125 Years Anniversary: FirstBank Holds Splendid Lecture, Glamorous Gala Nite

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By Eric Elezuo

In continuation of the first class activities lined up to celebrate its 125 years milestone in the banking industry, Nigeria premier financial institution, FirstBank Nigeria Limited, has hosted an economy reviving lecture.

The pot pourri of events, which kicked off March 1, with flag hoisting, successfully continued with a splendid lecture, delivered by one of the industry’s best and Turkish-born American Economist, Professor Daron Acemoglu, who also is the author of the bestseller, “Why Nations Fail” at the prestigious Convention Centre of the Eko Hotel and Suites, Victoria Island, Lagos, and a gala nite much later at the same venue.

In his analytical lecture titled “Institutional Impact on Economic Growth and Improved Living Standard” shortly after the Group Chairman, FBN Holdings Plc, Dr Oba Otudeko CFR, has emotionally delivered a welcome address, which exalted the ”extremely remarkable” achievements of FirstBank in 125 years, Prof Acemoglu presented a trend which suggests that “constant development of education and health” will see to the growth of African democracies.

Prof Daron Acemoglu 

With clear cut demographic figures through analytical power point presentation, Acemoglu held his audience spellbound, centring his conviction on his High Quality Growth Prospect in an Emerging World through which he profered adequate technical inputs for growth. Some of them include: employment growth, wage growth for all and health and education for all.

Acemoglu’s well grounded lecture, which explicitly proved the One Lecture, Huge Impact narrative, was immediately followed by a plenary session on Global Interdependency as Catalyst for Africa’s Ascedency, moderated by renowned Economist and Associate Professor, Lagos Business School, Dr. Doyin Salami.

The Panelists

The members of the highly professional panel were Professor Daron Acemoglu, Nigeria’s Honorable Minister of Finance, Mrs. Zainab Ahmed; Ghan

L-R: Mr. Uche Orji, Mr. George-Gyan Baffour, Prof Daron Acemoglu

a’s Honorable Minister for Budget and Planning, Mr. George Gyan-Baffour; Managing Director/CEO, Nigeria Sovereign Investment Authority; Mr. Uche Orji and Country Managing Director, International Finance Corporation, Mrs. Eme Essien.

In their various good will messages, Nigeria’s President, Muhammadu Buhari and the Vice President, Prof Yemi Osinbajo, who were ably represented by Mrs. Zainab Ahmed and the wife of the Vice President, Mrs. Dolapo Osinbajo, respectively, lauded the board, management and staff of FirstBank for a job well done in the last 125 years and counting.

Mrs. Zainab Ahmed, Mrs. Eme Essien and Dr. Doyin Salami

The well attended programme had in attendance former Central Bank of Nigeria Governor and Emir of Kano, Sanusi Lamido Sanusi, who is an integral part of the FirstBank family; Dr. Oba Otudeko, Chairman, FirstBank of Nigeria Limited, Mrs Ibukun Awosika, MD/CEO, FirstBank, Dr. Adesola Adeduntan; Minister of Works, Power and Housing, Mr Babatunde Fashola SAN; Representatives of the Olu of Warri, Mr. U. K. Eke among many other notable guests.

In his vote of thanks, the CEO, FirstBank, Dr. Adeduntan, thanked everyone who has found time to celebrate with the organization, promising that they will continue to up the game and set new standards for the benefit of its clients and the society in general.

He noted that FirstBank remains the only financial institution that can be found in the nook and cranny of the country with over 750 branches, stressing they will continue to serve in perpertuity, innovation and lead the path to disrupting standards and setting new ones.

Dignitaries

“We will be here for our stakeholders for another 125 years,” he concluded.

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Sell Petrol at N770 Per Litre, IPMAN Tells Dangote

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The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged Dangote Refinery to sell premium motor spirit (petrol) at N770 per litre.

The spokesperson of IPMAN, Chinedu Ukadike, said this on Monday.

Ukadike was reacting to comments by businessman, Aliko Dangote, who said Nigeria’s petrol is less expensive, as his refinery ex-depot price stood at N825 per litre.

However, Ukadike noted that PMS is not cheap owing to the country’s position as a crude oil producer.

According to him, the exchange rate is a major determinant in PMS price in Nigeria, noting a drop in exchange from N1,600 to around N1,200 would bring down the price to below N750 per litre.

“On my part, I don’t feel it’s cheap. I think the petrol will go as low as around N770. That’s my own permutation. I’m not an expert in oil refining. But with what I have gathered — the refinery production costs and the landing at the depot cost, petrol should not be more than N780 or N750, in line with the dollar rate. Now the rate is around N1,600 per dollar; should it appreciate further, PMS from Dangote Refinery should be N750 per litre.

“So, if the dollar can come down to N1,200, I want to tell you that the price of PMS at the pumps will go below N750,” he added.

Dangote, barely a week ago, said Nigeria’s petrol price is 55 percent below the West African average.

He reiterated recently that Nigeria’s petrol price is not expensive.

Nigerians currently buy petrol between N875 and N910 in Lagos and Abuja.

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UBA Introduces *919# Advance Top-Up Feature for Instant Access to Customers

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, has launched a new feature called Advance Top-Up on its USSD banking platform *919#, which is designed to provide instant access to airtime and data for its customers especially when they are out of call credit or disconnected from the internet.

The new feature, which can be accessed through *919*9#, was unveiled at the UBA head office in Marina on Thursday, allowing customers to borrow airtime or data directly from their mobile devices, offering a fast, dependable solution.

UBA’s Group Head, Retail and Digital Banking, Shamsideen Fashola, who spoke during the official launch, described the feature as a timely addition to the bank’s digital offerings and a testament to its customer-first approach.

“At UBA, we are constantly looking for ways to make banking and everyday services more accessible for our customers. With the launch of Advance Top-Up on our USSD platform, *919*9#, we are giving our customers the power to stay connected without interruption, regardless of time, location, or airtime balance,” Shamsideen said.

UBA’s Advance Top-Up which is now live on *919*9#, joins a wide range of services on the platform, which include airtime and data purchases, money transfers to UBA and other banks, account balance checks, card blocking and freezing, online transaction controls, bill payments, and more.
Fashola emphasised the simplicity and convenience of the solution, adding that “You don’t need to download an app or visit a data centre. Just dial *919*9#, follow the prompt, and you’re immediately connected. It’s simple, fast, and reliable.”
The Bank’s Group Head, Marketing and Corporate Communication, Alero Ladipo, added that the feature was developed based on real feedback from customers and their evolving needs.

“Our users asked for a way to stay connected when they have no airtime, and as always, we have come up with a quick solution, right there on their phones, instantly, with no fuss, and no need for internet connectivity. Whether for emergency communications or business continuity, *919*9# puts instant connectivity in every customer’s hands,” she explained.
She explained that only recently, the bank unveiled its newly improved Point of Sale (POS) Terminal as well as the UBA MONI App to redefine the digital payment landscape and empower small and Medium Scale Enterprises across Africa.

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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UBA Emerges Strongest Nigerian Brand in 2025

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United Bank for Africa (UBA) has been named the strongest Nigerian brand in the 2025 Brand Finance Banking 500 report, making a remarkable leap from its 9th position in 2024.

With a brand strength score of 92.4 out of 100 and a coveted AAA+ rating, UBA now leads the pack among Nigerian brands, reaffirming its status as a trusted and innovative banking institution.

Brand Finance, a globally recognized independent brand valuation consultancy, highlighted UBA’s outstanding performance across key brand metrics, including familiarity, preference, and consideration within its home market. This performance contributed to UBA’s climb in the rankings, not only as Nigeria’s strongest brand but also as the 13th strongest banking brand globally among 500 evaluated.

“This year’s ranking is no coincidence; it is the result of deliberate planning, strategic investments, and an unwavering focus on customer satisfaction,” said Alero Ladipo, Group Head, Marketing and Corporate Communications at UBA. “We remain committed to adapting to the evolving landscape while consistently delivering exceptional value.”

UBA’s performance was bolstered by its strong customer loyalty and trust. It scored particularly high in price acceptance, outperforming other leading African banks such as Capitec (South Africa) and Equity Bank (Kenya). These scores reflect UBA’s consistent value delivery and competitive pricing, earning it a solid reputation across its operating regions.

The bank’s rise is also attributed to its sustained investment in digital banking, innovation, and customer-centric technologies. Over the past year, UBA has prioritized digital transformation to enhance user experience and deepen customer engagement—an approach that aligns with current trends in Africa’s rapidly evolving financial services landscape.

Operating in 20 African countries and with offices in the United Kingdom, the United States, France, and the United Arab Emirates, UBA serves more than 45 million customers worldwide. With a workforce of 25,000, it remains one of the largest employers in the African financial sector.

UBA’s strong performance in the Brand Finance report underscores a broader strategy focused on brand equity, innovation, and customer satisfaction, positioning it as a leader in shaping the future of banking in Africa and beyond.

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