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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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Diezani Madueke Drags EFCC, AGF to Court over False, Injurious Publications, Seeks N100bn Damages

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By Eric Elezuo

A former Minister of Petroleum during the administration of former President Goodluck Jonathan, Mrs. Diezani Alison-Madueke, has brought the Economic and Financial Crimes Commission (EFCC) and the Attorney-General of the Federation as first and second defendants respectively, through a Writ of Summons before a Federal Capital Territory High Court, demanding the appearance of the duo in court with a statutory 14 days period, or judgment may be given to the claimant in their absence.

The commandment was given in Suit number C4/6273/23, and dated May 26, 2023 with Mrs. Alison-Madueke as the claimant and the duo of EFCC and AGF as defendants.

The former Petroleum Minister is praying the court to declare certain publications “authored by the Defendant under the supervision of the 2nd Defendant and widely published by the 1st Defendant, is false, malicious, injurious and intended to lower the reputation and integrity of and did indeed lower the reputation and integrity of the Claimant in the estimation of right thinking members of the society within and outside Nigeria and also brought the Claimant into public ridicule, odium, contempt, derision and obloquy.”

Alison-Madueke also sought an order, among many orders “directing the Defendants jointly and severally to pay to the Claimant the sum of N100,000,000,000.00 (100 billion naira) only as damages for the false, injurious, malicious and libelous publications against the Claimant in the 1st Defendant’s publishing platform, and at the instance of both the 1st and the 2nd Defendants.”

The publications according to the claimant were dated from 2017 till 2021, and appeared in prominent national dailies including print and online.

The claimant, in proving the falsehood of the publications, said that the defendants had means and opportunities to verify the truth, but chose not to do so.

“The Defendants had the means and opportunities of verifying the truth or otherwise of the offensive publications, but failed to do so and were motivated in making the offensive publications by the desire to increase their public profile and perception, and to bring the estimation of the Claimant into contempt, odium and ridicule in the eyes of an average Nigerian.

“The publications have greatly prejudiced and injured the Claimant and caused her reputational damage, loss of goodwill, and confidence by her political associates and professional colleagues, whom all of now shun and keep their distance from her as a common thief and corrupt public officer,” the Summons revealed.

Mrs. Alison-Madueke was Nigeria’s Minister of Petroleum till 2015 when the Jonathan’s administration left office. She left for England shortly after to treat severe ailment, and has been in England ever since. Attached are some of the documents of the Summons.

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Muhammadu Buhari: Eight Years of the Good, the Bad, the Ugly

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By Eric Elezuo

The tense atmosphere prevalent in the nation today has proved that the fanfare, flamboyancy and tangible joy that heralded the arrival of President Muhammadu Buhari in 2015 are no longer in vogue. On the lips of most Nigerians is the expression ‘thank God it’s finally come to an end’ with different persons expressing themselves in different ways, but each coming to terms with the meaning.

In barely 24 hours, the eight years administration of Nigeria’s leader will come to an end; glorious or inglorious depends on the side of the divide the particular Nigerian or interest group is speaking from. To many, it has been an eight years of nostalgia, to others, it was an eight years of irreparable mistake. But the truth remains that the eight years, counting from May 29, 2015 to May 29, 2023, has remained a watershed in the history of Nigeria. Without an iota of doubt, a lot has happened, ranging from the good, the bad, the ugly and in fact the very ugly.

In 2013, when it was believed that the administration of former President Goodluck Jonathan, was becoming rudderless, clueless, and practically heading to nowhere, a strong anti-government group ostensibly led by the Senator Bola Tinubu, rose, and galvanised a huge followership to cast aspersion on the incumbent with a view to dethroning him. The group, which cut across many parties in the country, including the ruling Peoples Democratic Party (PDP) sought the endorsement of Muhammadu Buhari as its presidential candidate, being touted as the face of the north, and erroneously believed to be a ‘saint’ in the corruption index.

A columnist wrote: “For the past eight years of Buhari’s administration have been an unmitigated failure; a monumental waste of time, of resources, and of the hopes and aspirations of a nation and a people. True stewardship is leaving a place better than one found it. But Buhari is leaving Nigeria far worse than he found it in 2015.”

From many quarters, observers have said that Buhari had an opportunity to better his first coming in 1984, but flopped the chance with a performance they believe is below average.

But how did the Buhari administration fare? In a Sunday morning farewell broadcast, the president examined his stewardship, and presented as follows:

My fellow Nigerian brothers, sisters and friends of Nigeria. 

2. I address you today, in my last assignment as a democratically elected President of our great and well-endowed nation, with a deep sense of gratitude to God, a great deal of appreciation to the Nigerian people and a modest sense of fulfilment. 

3. Today we mark and celebrate another peaceful transition of power from one elected government to another in our steady march to improve and sustain Nigeria’s democracy. 

4. This year we witnessed the most keenly contested Presidential Elections since the first Republic and this demonstrates that our democracy is getting better and more entrenched with each election. 

5. We must as a nation improve and sustain gains we make in the electoral process, on an incremental basis for Nigeria to take its rightful place among Nations. 

6. Our democracy provides for, allows and encourages seeking redress for perceived injustices, enabling some candidates and political parties that did not agree with the results to go to court. 

7. Irrespective of the outcome of the various cases, I urge all parties involved to accept the decision of our courts and join hands to build a better Nigeria. 

8. I salute the doggedness and resilience of all the Presidential Candidates and their political parties for believing in our judicial system by taking their grievances with the election results to court. 

9. In the course of the campaigns, we had argued and disagreed on how to make Nigeria better but we never disagreed or had any doubts that Nigeria has to be better. 

10. As your President, I call on all of us to bring to bear the strength of our individualism, the power of our unity, the convictions of our beliefs to make Nigeria work better and together with one spirit and one purpose. 

11. To my brother, friend and fellow worker in the political terrain for the past ten years – Asiwaju Bola Ahmed Tinubu -, I congratulate you on the realisation of your dream, which was propelled by a burning passion to put Nigeria amongst the leading nations of the world.  

12. You have indeed worked for this day and God has crowned your efforts. I have no doubt that your passion for excellence, reliance on competence, fairness in relationships, commitment to equity, loyalty to the country and desire for Nigeria to be globally relevant would come through for you, under God’s guidance, as you lead our country to levels higher that I am leaving.   

13. You are the best candidate among all the contestants and Nigerians have chosen well. 

14. The last eight years have been an exciting experience in my desire and commitment to see a Nigeria in which public goods and services are available, and accessible within a united, peaceful and secure nation. 

15. Fellow Nigerians, on the strength of your overwhelming support for me and my political party, I started this journey with a great deal of promise and expectation from you. I never intended to be just politically correct but to do the correct things that will make meaningful impact on the lives of the common Nigerian. 

16. This high expectation was not misplaced because, like the ordinary Nigerian, I had grown tired of watching the country progressively moving away from the path of correctness. 

17. To ensure that our democracy remains resilient and our elected representatives remain accountable to the people, I am leaving behind an electoral process which guarantees that votes count, results are credible, elections are fair and transparent and the influence of money in politics reduced to the barest minimum. And Nigerians can elect leaders of their choice. 

18. We are already seeing the outcome of this process as it provided an even playing field where persons without any political God-Father or access to money defeated other well-resourced candidates. 

19. The Nigerian economy has become more resilient due to the various strategies put in place to ensure that our economy remained afloat during cases of global economic downturns. 

20. You would all recall the supply chain disruptions and economic downturn that the world witnessed between 2020 and 2022 as a result of the COVID-19 pandemic. The deftness of our response to the pandemic still remains a global best practice. 

21. Furthermore, we increased the ability of the poor and rural Nigerians to earn a living, provided more food for millions in our villages and gave our women opportunities to earn a living. 

22. Young men and women in urban centres were also supported to put their skills into productive use. Our administration also provided an enabling environment for the private sector to engage in businesses for which their return on investments is guaranteed. 

23. The private sector proved a strong partner in our drive to build a resilient and sustainable economy as evidenced by the growing number of turn-key projects in various sectors of the economy. 

24. In the course of revamping the economy, we made some difficult choices, most of which yielded the desired results. Some of the measures led to temporary pain and suffering for which I sincerely apologised to my fellow countrymen, but the measures were taken for the over-all good of the country. 

25. Mindful of the need to ensure adequate infrastructure to drive economic growth, we completed age-long projects and processes notably amongst which are the Petroleum Industry Act, completion of some power projects, completion of the second Niger bridge and various important roads linking cities and states. 

26. Our battle to ensure that all Nigerians live in a safe and secure environment has achieved considerable results. As I complete my term in office, we have been able to reduce the incidences of banditry, terrorism, armed robbery and other criminal activities considerably. 

27. To sustain the gains made so far, I call on all Nigerians to be more vigilant and support the security agencies by ensuring that our values defined by being your brothers’ keeper govern our actions. 

28. Up-till now, I still grieve for our children still in captivity, mourn with parents, friends and relatives of all those that lost loved ones in the days of the senseless brigandage and carnage. For all those under unlawful captivity our Security Agencies are working round the clock to secure their release unharmed. 

29. Fellow Nigerians, you know how dear the desire in my heart is, to rid the country of corrupt practices that had consistently diminished our efforts to be a great country. 

30. I did pursue this commitment relentlessly, in spite of the expected push back. I am happy that considerable progress had been made in repatriating huge sums of money back to the country and also taken over properties illegally acquired from our common wealth. 

31. To improve service delivery, we began the implementation of a number of reforms aimed at producing an Efficient, Productive, Incorruptible and Citizen-oriented (EPIC) Federal Civil Service and the results are beginning to show. 

32. On the international scene, Nigeria’s influence continues to grow as exemplified by notable Nigerians occupying headship and leadership positions in renowned global bodies. 

33. Our democracy is built on and continues to thrive on the principles of separation of powers. The leadership and members of the National Assembly deserve my appreciation for their patriotism which did not detract from their roles as a check to the executive arm.

34. I also want to use this opportunity to express my appreciation to a good number of Nigerians who provided their support and encouragement to help me navigate the exciting journey in moving Nigeria forward. 

35. I cannot and will not forget the millions who prayed for me during my illness in my first term of office. I am constantly praying for you and for Nigeria to thrive in peace.

36. As I retire home to Daura, Katsina State, I feel fulfilled that we have started the Nigeria Re-Birth by taking the initial critical steps and I am convinced the in-coming administration will quicken the pace of this walk to see a Nigeria that fulfils its destiny to be a great nation. 

37. I am confident that I am leaving office with Nigeria better in 2023 than in 2015. 

38. I thank you all. And may God Bless the Federal Republic of Nigeria.

The Buhari administration has however received knocks from a good number of quarters, which believed that his administration was the worst in the history of the nation. According to the outgoing governor of Benue State, Samuel Ortom, Buhari performed abysmally low, and should be told.

In his opinion, a Peoples Democratic Party (PDP) chieftain, Chief Bode George, noted that in all sectors of the country, the Buhari’s administration has not impacted positively the lives of Nigerians.

“My personal assessment is that he failed, not completely in every sector, but if you do an examination and say you must have a minimum of 33 per cent, then you can go to the next class, but they did not attain that 33 per cent.

“I can give them maybe about 5 per cent, even the 5 per cent requires a lot of retrospection.

“So it is very disheartening and heartbreaking that he failed in his number one job, which was to guarantee security of lives and property.

“You know when he was coming in, Buhari told us, ‘I would fight corruption, I will secure the lives and properties of the people, I will do this, I will do that’.

“So, let’s put those promises now into his departure, because that’s what will be written on the pages of history. Whatever a leader does during his time is on the pages of history,” he said.

For Senator Shehu Sani, Buhari granted waivers to the rich and impoverish the poor, closing the borders for those who import bags of rice on motorcycles and permitting those who use the ships.

“He led the country without any economic direction. He presided over a Government that failed to secure the lives of Nigerians; 63k dead, 3m IDPs & 366k refugees in neighbouring countries,” he tweeted.

“He failed to restructure as he promised. He granted waivers to the rich & impoverished the poor. He closed the borders for those who import bags of rice on motorcycles and permitted those who use the ships.

“He built magical pyramids that disappeared after three days. He left incomplete projects with huge debts to service for decades.

“He enabled, enriched & reinforced a cabal for 8 years. He appointed & retained failures and rewarded them with extensions. He was weak in taking decisions & runway when it’s tough.

“He has no house in London but made London his home. He left behind record inflation, record devaluation, record unemployment, record fall in GDP, record figures of poverty and record plunder of state resources.

“He left behind a nation with 60m people suffering from mental illnesses. He is leaving behind the health workers on strike. He set up traps for the next Government in order to make his own look better,” Sani said.

Also assessing the eight years of the Buhari administration, an aide to PDP presidential candidate, Atiku Abubakar, Mr. Demola Olanrewaju, said: “APC was voted in 2015 on the promise of change, and APC got and effected a change of promise”.

He added that “nobody attaches credibility to promises made by politicians anymore because of the inability of this administration to keep its promise”.

“We must cast our mind back to the promises made by APC in 2015 en route to taking over from the PDP. I think it’s quite obvious that if you look at those promises and the reality on the ground today, the APC has simply not fulfilled its promises. Buhari has simply not fulfilled the promises that brought him into power,” he said.

“The government came in with high hopes that began to be dashed gradually.

“There was a sense of Buhari’s administration not being a reflection of any other administration simply because APC had criticised the previous government for some of the things that they turned around to do; in terms of the integrity of elections, insecurity, and ideas on how to make Nigeria work.

“There were also attempts by this administration to distance itself from its own promises. Buhari promised ‘restructuring’ when he got into power, and he said he did not understand what restructuring means anymore.

“Basically, APC was voted in 2015 on the promise of change, and APC effected a change of promise. Based on that, I think the Buhari administration has not lived up to the billing of its promise.”

On his part, Oluseyi Olufemi, a data journalist, said while the Buhari administration ranked high in some aspects of state management, the government failed in economics and human rights issues.

“In terms of economics, that was a greater decline. The Buhari administration scored the lowest. Things have gotten worst than they used to be,” he said.

“In terms of the number of refugees and internally displaced people (IDPs), that increased drastically also under Buhari compared to other governments. Human rights abuse was also worse.”

The way it is, failed or succeeded, Buhari is on his way out, and this is the era of Senator Bola Tinubu if the cases in court do not yield anything positive. The question is not is how would Tinubu better the wrongs committed by the Buhari administration, especially when he had said he would continue where the outgoing administration stop.

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76th Cannes Film Festival Ends with Bang

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The stars on parade at 76th Festival de Cannes

 

By Michael Effiong

The colour, the glamour, the style and class of the 76th Annual Cannes Film Festival ends today with a big bang.

Festival de Cannes, the film industry’s most prestigious festival will take place at 8:30 pm and will be broadcast live on France 2 and internationally on Brut.

The Jury, presided over by director Ruben Östlund and including director Maryam Touzani, actor Denis Ménochet, writer/director Rungano Nyoni, actress/director Brie Larson, actor/director Paul Dano, writer Atiq Rahimi, director Damián Szifron and director Julia Ducournau, will select the winners from the 21 films in Competition this year.

Actress Anaïs Demoustier, President of the Jury, will hand out the Caméra d’or award to the best first film. Actress Stacy Martin and director Ildikó Enyedi, President of the Short Film and La Cinef Jury, will award the Palme d’or for short films.

Actor Orlando Bloom will hand out the Jury Prize. Actor Song Kang-ho, last year’s winner of the Best Performance by an Actor for Broker and actress Zar Amir Ebrahimi, last year’s winner of the Best Performance by an Actress for Holy Spider, will award the Best Performance by an Actress and Best Performance by an Actor Prizes respectively.

 

Actor John C. Reilly, President of the Un Certain Regard Jury, will award the Best Screenplay Prize, while Pete Docter, Creative Director of Pixar Studios, will present the Best Director Prize.

 

The Festival de Cannes will also be honored by the exceptional presence tonight of legendary filmmaker Roger Corman, who will present the Grand Prix alongside virtuoso Quentin Tarantino.

 

Finally, the prestigious Palme d’or will be presented by the formidable and inspiring Jane Fonda.

 

The Closing Ceremony will mark the end of the 76th Festival de Cannes, and will be followed by the screening of Peter Sohn‘s film Elementary in the Grand Théâtre Lumière.

 

The 21 films competing for the Palme d’or this year are : Firebrand by Karim Aïnouz, Asteroid City by Wes Anderson, Rapito (Kidnapped)(Kidnapped) by Marco Bellocchio, Les Filles d’Olfa (Four Daughters)(Four Daughters) by Kaouther Ben Hania, L’Été dernier (Last Summer) (Last Summer) by Catherine Breillat, Kuru Otlar Ustune (About Dry Grasses)(About Dry Grasses) by Nuri Bilge Ceylan, Le Retour (Homecoming) by Catherine Corsini, The Zone of Interest by Jonathan Glazer, Club Zero by Jessica Hausner, May December by Todd Haynes, Monster by Kore-Eda Hirokazu, Kuolleet Lehdet (Fallen Leaves)(Fallen Leaves) by Aki Kaurismäki, The Old Oak by Ken Loach, Il Sol dell’ avvenire (A Brighter Tomorrow)(A Brighter Tomorrow) by Nanni Moretti, La Chimera by Alice Rohrwacher, Black Flies by Jean-Stéphane Sauvaire, Banel e Adama by Ramata-Toulaye Sy, La Passion de Dodin Bouffant (The Pot-au-Feu) (The Pot-au-Feuby Tran Anh Hùng, Anatomie d’une chute (Anatomy of a Fall) (Anatomy of a Fallby Justine Triet, Jeunesse (Le Printemps) (Youth (Spring))(Youth (Spring)) by Wang Bing, Perfect Days by Wim Wenders.

The Closing ceremony, usually a wonderful evening to behold will be broadcast in English and French by Brut.

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