Business

Fresh Winners of Ovation Palliatives Emerge, Cart Away N1.070m

Published

5 years ago

May 13, 2021

Eric

By Eric Elezuo

Another batch of winners of the Ovation Palliatives, a charity efforts of Ovation Media Group, has emerged.

In a statement issued by the organisation’s Chairman, Chief Dele Momodu, this batch, which consisted of 214 lucky Nigerians carted away a combined sum of One Million and Seventy Thousand Naira (N1, 070, 000.00) at N5,000 each.

“The Ovation Palliatives has come to stay, and in our own little way, we will continue to reach out to vulnerable Nigerians, especially at this time in the life of our country,” Chief Momodu said.

Momodu also paid glowing tributes to so many people that have contributed to the charity purse, and continue to contribute.

“With great joy, I appreciate our donors, and pray that the Almighty God continue to bless and provide for them,” he added.

Below is a complete list of the beneficiaries:

Bank Sort Code Bank Name Branch Account No. Amount
NIP011 FIRST BANK NIGERIA LIMITED Angela Oniovosa katako branch 3160168186 5000
NIP011 FIRST BANK NIGERIA LIMITED Ayebanengiyefa Micah Yenagoa 3156428993 5000
NIP011 FIRST BANK NIGERIA LIMITED Zainab Garba Maiduguri 3171155388 5000
NIP011 FIRST BANK NIGERIA LIMITED Fatima Fatima First bank 3147731873 5000
NIP011 FIRST BANK NIGERIA LIMITED Godwin Abah Emure -Ekiti 3081679970 5000
NIP011 FIRST BANK NIGERIA LIMITED Uloko Nelson Otukpo 3109687440 5000
NIP011 FIRST BANK NIGERIA LIMITED Ibrahim Usman Ashaka 3167320637 5000
NIP011 FIRST BANK NIGERIA LIMITED Wankin Moses Katsina-ala 20000 5000
NIP011 FIRST BANK NIGERIA LIMITED Isma’il Auta Unijos branch 3130841705 5000
NIP011 FIRST BANK NIGERIA LIMITED IDOKO UKAMAKA bida 3031739516 5000
NIP011 FIRST BANK NIGERIA LIMITED Susan Orim Calabar road branch 3112398649 5000
NIP011 FIRST BANK NIGERIA LIMITED Salamatu yakubu Maiduguri 3121966320 5000
NIP011 FIRST BANK NIGERIA LIMITED Sharifat Aliyu Kaduna north 3064992469 5000
NIP011 FIRST BANK NIGERIA LIMITED Sylvester Mbah Nsukka 3069501486 5000
NIP011 FIRST BANK NIGERIA LIMITED ATSA ABANTELE Emene industrial layout 2015005283 5000
NIP011 FIRST BANK NIGERIA LIMITED Bosede Ayeni Bello Road Branch Kano 3020349201 5000
NIP011 FIRST BANK NIGERIA LIMITED Folorunso Samson Kogi state 3029159937 5000
NIP011 FIRST BANK NIGERIA LIMITED Isu Abani Ugep branch 3070828152 5000
NIP011 FIRST BANK NIGERIA LIMITED Oluwatobi Mary Ikare akoko 3113762872 5000
NIP011 FIRST BANK NIGERIA LIMITED Abidemi Asepitan Egbeda 3048439630 5000
NIP011 FIRST BANK NIGERIA LIMITED Obasi Ikenna Yenagoa 3035139176 5000
NIP011 FIRST BANK NIGERIA LIMITED ugochukwu Ometa Ezzangbo 3031663842 5000
NIP011 FIRST BANK NIGERIA LIMITED Evelyn Ekele Can’t remember 3085866134 5000
NIP011 FIRST BANK NIGERIA LIMITED Ejovwoke Etu Enerhen 3103452752 5000
NIP011 FIRST BANK NIGERIA LIMITED Deborah Robert Calabar 3134822658 5000
NIP011 FIRST BANK NIGERIA LIMITED Christiana Orok Ykc Woji 50 000.00 5000
NIP011 FIRST BANK NIGERIA LIMITED NURA GARBA SOKOTO MAIN BRANCH 3116801413 5000
NIP011 FIRST BANK NIGERIA LIMITED Chimezie Blessing Nsukka branch 3096066127 5000
NIP011 FIRST BANK NIGERIA LIMITED Adaeze Emmanuel Abonta Shippers plaza 1000000 5000
NIP011 FIRST BANK NIGERIA LIMITED Rabiu BALA Numan 3126352668 5000
NIP011 FIRST BANK NIGERIA LIMITED Zakariyya Adamu Zaria 3080706282 5000
NIP011 FIRST BANK NIGERIA LIMITED Ann Onah Ankpa 30 88-67 1313 5000
NIP011 FIRST BANK NIGERIA LIMITED Auwal Idriss first bank 3162734732 5000
NIP011 FIRST BANK NIGERIA LIMITED Amuda Abiola Bowen branch Iwo 3106813008 5000
NIP011 FIRST BANK NIGERIA LIMITED Ayodeji Arogunjo Owo branch 3037498851 5000
NIP011 FIRST BANK NIGERIA LIMITED Rita Arelogie Port Harcourt 3036394138 5000
NIP011 FIRST BANK NIGERIA LIMITED Anietie Essien Akwa ibom 3069872883 5000
NIP011 FIRST BANK NIGERIA LIMITED Simisola oshibanjo Ijebu ode 3078709086 5000
NIP011 FIRST BANK NIGERIA LIMITED Yunusa Adamu Jalingo 3135799409 5000
NIP011 FIRST BANK NIGERIA LIMITED Mcrichard Ebuka Ikotun 2 3095857052 5000
NIP011 FIRST BANK NIGERIA LIMITED kaltume waziri first bank 3148984896 5000
NIP011 FIRST BANK NIGERIA LIMITED Emmanuel Udenwa Portharcourt 3132013760 5000
NIP011 FIRST BANK NIGERIA LIMITED Onyinye Uduji Nyanya 3153704597 5000
NIP011 FIRST BANK NIGERIA LIMITED Yusuf Olajumoke Akute 3096558442 5000
NIP011 FIRST BANK NIGERIA LIMITED Abdulbasi Muktar Anuja 3133638403 5000
NIP011 FIRST BANK NIGERIA LIMITED Hauwa Muhammed Ashakacem Branch 3172110320 5000
NIP032 Union Bank of Nigeria Plc Abdulrazaq Kabir Terminus Ahmadu bello way 2103472869 5000
NIP032 Union Bank of Nigeria Plc Sadiya Sadiya1 Gusau ‘0088718793 5000
NIP032 Union Bank of Nigeria Plc Odikanuom Callistus Orlu ‘0028357202 5000
NIP032 Union Bank of Nigeria Plc Hauwa Abdullahi Gombe ‘0099465493 5000
NIP032 Union Bank of Nigeria Plc Joseph Samuel Birnin kebbi ‘0151085250 5000
NIP032 Union Bank of Nigeria Plc Doris Ali Lokoja ‘0024565447 5000
NIP032 Union Bank of Nigeria Plc Nabila Ibrahim Main branch bauchi ‘0120004431 5000
NIP032 Union Bank of Nigeria Plc Ogah Mosws Oju ‘0135323161 5000
NIP033 United Bank For Africa Plc Adam Maryam Jalingo Maral computer 5000
NIP033 United Bank For Africa Plc Nonso Chiemeka James Asokoro 2134306461 5000
NIP033 United Bank For Africa Plc Emmanuel Akpan Uyo 2148166785 5000
NIP033 United Bank For Africa Plc Nazifi Sulaiman Bauchi 2183750897 5000
NIP033 United Bank For Africa Plc Amina Idris Bauchi 2090150940 5000
NIP033 United Bank For Africa Plc Taofeeq Akinyemi oyan market square 2115137961 5000
NIP033 United Bank For Africa Plc Iveren Chia Gboko 2054518713 5000
NIP033 United Bank For Africa Plc Opaluws halimat idah 2115547836 5000
NIP033 United Bank For Africa Plc Tijjani Sanusi Taraba wukari 2137006401 5000
NIP033 United Bank For Africa Plc Isaac Victor Gusau 20000 5000
NIP033 United Bank For Africa Plc Fahad Laula Maiduguri Baga Road 2087154971 5000
NIP033 United Bank For Africa Plc Onah Ene Makurdi 2082351995 5000
NIP033 United Bank For Africa Plc Aliyu Salihu Bauchi 2140090871 5000
NIP033 United Bank For Africa Plc MBAKUHAN TYOHEMBA makurdi 2085001442 5000
NIP033 United Bank For Africa Plc Modu Ladan Maiduguri 1013790535 5000
NIP033 United Bank For Africa Plc Babajide Kayode Ilorin 2182136625 5000
NIP033 United Bank For Africa Plc Amara Okoye UNEC branch 2112405074 5000
NIP033 United Bank For Africa Plc Davies Clifford Adamawa 2157218756 5000
NIP033 United Bank For Africa Plc Jamila Ibrahim Jalingo 2164543159 5000
NIP033 United Bank For Africa Plc Desmond Okpara funtua 2007141922 5000
NIP033 United Bank For Africa Plc Godfrey Michael Aliyu jodi brance 2148245938 5000
NIP033 United Bank For Africa Plc Hannah Ituma Abakaliki 2180616718 5000
NIP033 United Bank For Africa Plc Ibrahim Fatimo Ilaro FPI 2059801412 5000
NIP033 United Bank For Africa Plc Sufiyanu Sani Argungu 50000 5000
NIP033 United Bank For Africa Plc Folasade Adesiyan Dockyard 1003034791 5000
NIP035 Wema Bank Plc jemilat muhammed kishi branch ‘0246173883 5000
NIP035 Wema Bank Plc Adeyinka Alex Ikare ‘0229551705 5000
NIP035 Wema Bank Plc NAFISAT LAWAL Ayetoro ‘0220320557 5000
NIP035 Wema Bank Plc Adedayo Adeojo Ado-Ekiti ‘0230583601 5000
NIP035 Wema Bank Plc Eme Inyang Calabar ‘0243219160 5000
NIP035 Wema Bank Plc Ojerinde Abiola Igboho ‘0230566983 5000
NIP044 Access Bank Adesina Emmanuel Maryland 50000 5000
NIP044 Access Bank Shakiru Ayoola Osogbo ‘0012800490 5000
NIP044 Access Bank Rashida Dandibi Koton karfe 1396548000 5000
NIP044 Access Bank Oluwaseun Adigun Ilorin ‘0009141017 5000
NIP044 Access Bank AWODEYI MARY Keffi 1381830736 5000
NIP044 Access Bank Noah Adams Beach road ‘0800891352 5000
NIP044 Access Bank Peace Anthony Ife Branch ‘0813433790 5000
NIP044 Access Bank Azeez Adewale Ondo ‘0692054541 5000
NIP044 Access Bank Godfrey Asadu Orba Road Nsukka ‘0019375057 5000
NIP044 Access Bank Isi obanoke Sapele okpe road ‘0818768604 5000
NIP044 Access Bank Nkechi Anosike Aba ‘0064494325 5000
NIP044 Access Bank Ibrahim Hammanjoda Adamawa state ‘0097000032 5000
NIP044 Access Bank Atim Asanaenyi Uyo ‘0814132193 5000
NIP044 Access Bank Clems Chidi Port Harcourt ‘0784456042 5000
NIP044 Access Bank Tosin Afolabi New Gbagi Ibadan ‘0087440334 5000
NIP044 Access Bank Farida Musa Maiduguri ‘0719851849 5000
NIP044 Access Bank Grace Ajayi Ahmadu bello jos ‘0071803983 5000
NIP044 Access Bank Yau Zainab Gombe 1402131217 5000
NIP044 Access Bank Idris Umar Access bank maiduguri ‘0808373456 5000
NIP044 Access Bank Peace Egbuna Gusau Road ‘0726944433 5000
NIP044 Access Bank Israel Osogbue Ikotun Lagos ‘0095399150 5000
NIP044 Access Bank Onome Akpoyomare Fct 1408465808 5000
NIP044 Access Bank Timilehin Abe Bodija @tim_rolex 5000
NIP044 Access Bank Aliyu Adamu Malumfashi 1374283556 5000
NIP044 Access Bank abubakar abdulmumin damaturu ‘0099730461 5000
NIP044 Access Bank Ruth Okere Idimu ‘0055222781 5000
NIP044 Access Bank ABDULLAHI DANGUDIDI BAUCHI ‘0024827204 5000
NIP044 Access Bank Musa Hauwa Deba 1.40787E+11 5000
NIP044 Access Bank Martha Dauda Gombe branch 5000 5000
NIP044 Access Bank Ogene Philip Ogene ugochukwu Philip ‘0054198011 5000
NIP044 Access Bank Treasure Okubo Ughille ‘0805962129 5000
NIP050 Ecobank Nigeria Plc Terry Hannah Wuse Abuja 2203007232 5000
NIP050 Ecobank Nigeria Plc Nafisa Rabiu Ali akilu road kaduna 3060018221 5000
NIP057 Zenith Bank Plc Fatima Gambo Azare 2214479072 5000
NIP057 Zenith Bank Plc Favour Sanyaolu Mokola 2210759206 5000
NIP057 Zenith Bank Plc Abiola Oluwasanumi Osogbo 2264085232 5000
NIP057 Zenith Bank Plc Muhammad Abdullahi GUSAU 2261961652 5000
NIP057 Zenith Bank Plc Yusuff Rasheed Saki 2087924947 5000
NIP057 Zenith Bank Plc David Miaza Nnebissi 2189425977 5000
NIP057 Zenith Bank Plc Stephen Kalu Aba road 2285198344 5000
NIP057 Zenith Bank Plc Bello shu’ibu Kano road sokoto state 2367376383 5000
NIP057 Zenith Bank Plc Suleiman Abdullahi Bauchi 2361852865 5000
NIP057 Zenith Bank Plc Umar Hussaini Zenith bank branch 3 Monday market 2281778728 5000
NIP057 Zenith Bank Plc Rose Adamma Abakaliki 2253003393 5000
NIP057 Zenith Bank Plc Zara Tijjani Maiduguri 2214174676 5000
NIP057 Zenith Bank Plc Ajumoke Lawrence Jos 2111522905 5000
NIP057 Zenith Bank Plc Eyayo Lucky Yenagoa 2082016382 5000
NIP057 Zenith Bank Plc Nuraddeen Ibrahim Katsina branch 2216699368 5000
NIP057 Zenith Bank Plc Kehinde Yetunde Unity road 2256287459 5000
NIP057 Zenith Bank Plc Faith Taiwo Area 8 2118693109 5000
NIP057 Zenith Bank Plc Akachukwu Ifeanyi Tradefair 200000 5000
NIP057 Zenith Bank Plc Temple Chinedu Abuja 2121850472 5000
NIP057 Zenith Bank Plc Abosede OLAGOKE Abule egba 1002588789 5000
NIP057 Zenith Bank Plc Sandra Emmanuel Gudu district 5000 5000
NIP057 Zenith Bank Plc Nduka Nwosu Yola Adamawa state 2378269405 5000
NIP057 Zenith Bank Plc Jacob Monday Dei-Dei Abija 2190605911 5000
NIP057 Zenith Bank Plc Emmanuel Ojegade Akure 2211983947 5000
NIP058 Guaranty Trust Bank Plc Muhammad Idris Gusau ‘0428364002 5000
NIP058 Guaranty Trust Bank Plc Folasade Akinjo Ilorin kwara State ‘0035513907 5000
NIP058 Guaranty Trust Bank Plc Abayomi Ajagbe Utako ‘0284477458 5000
NIP058 Guaranty Trust Bank Plc Victoria Ogunbiyi Anthony ‘0250830416 5000
NIP058 Guaranty Trust Bank Plc Temitope Ogunbode Lagos road ‘0015078125 5000
NIP058 Guaranty Trust Bank Plc Blessing Abah Area 3 Abuja ‘0491069242 5000
NIP058 Guaranty Trust Bank Plc Oshama Obogor Calabar ‘0040515491 5000
NIP058 Guaranty Trust Bank Plc Michael Essien Gwarinpa by Chambian plaza. 6th Avenue ‘0459774078 5000
NIP058 Guaranty Trust Bank Plc Umma Ibrahim Maiduguri ‘0615298532 5000
NIP058 Guaranty Trust Bank Plc Rahina Abubakar Yola ‘0265418322 5000
NIP058 Guaranty Trust Bank Plc Ebinimi Gbeinzi Yenagoa ‘0052899550 5000
NIP058 Guaranty Trust Bank Plc Husaina Musa Bauchi ‘0259464030 5000
NIP058 Guaranty Trust Bank Plc Balkisu Bala Bauchi ‘0593066712 5000
NIP058 Guaranty Trust Bank Plc Fatima Adamu Main branch bauchi ‘0452285236 5000
NIP058 Guaranty Trust Bank Plc Gabriella Uzoma Wuse Abuja ‘0344673884 5000
NIP058 Guaranty Trust Bank Plc Samuel Udo Abak Road ‘0428673740 5000
NIP058 Guaranty Trust Bank Plc Chikanma Orji Umuahia ‘0162871811 5000
NIP058 Guaranty Trust Bank Plc Muktar Hammanjoda Gt Bank AUN Branch 4000000 5000
NIP058 Guaranty Trust Bank Plc Ya’u Ahmad Gombe ‘0232168742 5000
NIP058 Guaranty Trust Bank Plc Lomem Kenos Yola ‘0508176116 5000
NIP058 Guaranty Trust Bank Plc Abdullahi Umar Jalingo ‘0620505027 5000
NIP058 Guaranty Trust Bank Plc Abubakar Mainasara Birnin kebbi 22412263721 5000
NIP058 Guaranty Trust Bank Plc Ogunka ida Rumuokoro ‘0113136888 5000
NIP058 Guaranty Trust Bank Plc Abdulganiyu Jejelola Ilorin #30000 5000
NIP058 Guaranty Trust Bank Plc GLORY VICTOR MGBUOBA TOWN RIVERS STATE ‘0424035850 5000
NIP058 Guaranty Trust Bank Plc Emeh Blessing Yenagoa ‘0042366460 5000
NIP058 Guaranty Trust Bank Plc Rabiu Abubakar Jalingo ‘0613283952 5000
NIP058 Guaranty Trust Bank Plc Halima Kofi Jalingo ‘0466372597 5000
NIP058 Guaranty Trust Bank Plc OGUNDELE SEYIFUNMI Unity ‘0282902235 5000
NIP058 Guaranty Trust Bank Plc Abdulganiyu Dare Taiwo ‘0034765307 5000
NIP058 Guaranty Trust Bank Plc Ladi Goteng Bert ‘0115555049 5000
NIP058 Guaranty Trust Bank Plc Levi Stephen Murtala Mohammed Square Kaduna branch ‘0157966913 5000
NIP058 Guaranty Trust Bank Plc Abduls Idris Ahmadu bello way plateau state ‘0173530165 5000
NIP058 Guaranty Trust Bank Plc Oluwatosin Adebayo Akure ‘0472021818 5000
NIP070 Fidelity Bank Plc Smart Julius Yenagoa ‘0026678785 5000
NIP070 Fidelity Bank Plc Izuchukwu Obi Utako market 5000 5000
NIP070 Fidelity Bank Plc Abomubo-oso Odidi Port Harcourt 6170581474 5000
NIP070 Fidelity Bank Plc Jessica Monko Calabar 6233502024 5000
NIP070 Fidelity Bank Plc Fatima Kyari Maiduguri 6173097338 5000
NIP070 Fidelity Bank Plc Ndive Chiamaka Gusau road 6234225852 5000
NIP070 Fidelity Bank Plc Josephine Habu Kaduna South 6321824834 5000
NIP070 Fidelity Bank Plc Ndukwe Uka Afikpo 6232244934 5000
NIP070 Fidelity Bank Plc Chibuike Chukwu Agbani road Enugu. 6236984625 5000
NIP076 Polaris Bank Basirat Abideen Birnin kebbi 3048033545 5000
NIP076 Polaris Bank Oladayo Ojo Ile ife 3021542899 5000
NIP076 Polaris Bank Esther Adeleye Sapon Branch 1130628277 5000
NIP076 Polaris Bank Peter Ibikunle Saki branch 3031157944 5000
NIP076 Polaris Bank Kwaghaondo Aondowase Lugbe Abuja 3025245617 5000
NIP082 Key Stone Bank Auwalu Shehu Azare 6020354570 5000
NIP082 Key Stone Bank Hussainah Yahaya Gombe 6030675261 5000
NIP214 First City Monument Bank Plc Halima Abubakar Ashaka 4834443014 5000
NIP214 First City Monument Bank Plc Amina Muhammad Bauchi 7146134016 5000
NIP214 First City Monument Bank Plc Zainab Muhammed Kuje 2208805015 5000
NIP214 First City Monument Bank Plc Aisha Aremu Bauchi 4772957015 5000
NIP214 First City Monument Bank Plc Chigozie Iheonunekwu faulks 6501712018 5000
NIP214 First City Monument Bank Plc AMINA KAFAKE Damaturu 4277388015 5000
NIP214 First City Monument Bank Plc Comfort Ulu Calabar 1184417014 5000
NIP214 First City Monument Bank Plc Kabiru Abdulkarim Jalingo 7005539015 5000
NIP214 First City Monument Bank Plc Rapheal Ochai Ovom Yenagoa 1826743019 5000
NIP214 First City Monument Bank Plc Happpy Graba Bauchi 3929942016 5000
NIP214 First City Monument Bank Plc Chawali Pisagih Bauchi 1113036013 5000
NIP214 First City Monument Bank Plc Abdullahi Umar Birnin kebbi 2118491070 5000
NIP215 Unity Bank Plc Aisha Umar Katsina ‘0032041916 5000
NIP221 Stanbic IBTC Bank Ltd. Chidinma Kalu Elelenwo PH ‘0015914881 5000
NIP221 Stanbic IBTC Bank Ltd. Muhammad Shuaibu Bauchi ‘0026496581 5000
NIP221 Stanbic IBTC Bank Ltd. Thomas Tsokaa Gerie ‘0033212697 5000
NIP221 Stanbic IBTC Bank Ltd. Chahandi Charles Yola ‘0021150941 5000
NIP221 Stanbic IBTC Bank Ltd. Ngozi Iwuoha Okota road ‘0025425832 5000
NIP221 Stanbic IBTC Bank Ltd. Abubakar Sani Gusau ‘0015774832 5000
NIP232 Sterling Bank Plc Sumayya Mohamed Gusau ‘0070414965 5000
NIP232 Sterling Bank Plc Olaibo Owolabi Ogijo ‘0029447890 5000
NIP232 Sterling Bank Plc MARIAM SUNDAY Bauchi ‘0026657603 5000
Total 1070000

Business

UBA Unveils Diaspora Platform to Connect Global Africans with Investment Opportunities

Published

3 weeks ago

February 15, 2026

Eric

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has unveiled a diaspora banking and investment platform designed to serve Africans living and working across the world and within the continent.

The platform, launched in collaboration with leading ecosystem partners including United Capital, Africa Prudential, UBA Pensions, Afriland Properties, Heirs Insurance Group, and Avon Healthcare Limited — represents a major step in redefining diaspora banking beyond remittances toward structured wealth creation and long-term investment.

At the unveiling, which took place at UBA’s global headquarters in Lagos under the theme: “Beyond Banking: Powering the Global African Lifestyle, all the company representatives were on hand to showcase a seamless platform that goes beyond remittances, wealth creation, protection, and long-term prosperity.

Speaking at the event, UBA’s Head of Diaspora Banking, Anant Rao, described the initiative as a strategic shift in how Africa engages its global citizens.

“For decades, Africa’s engagement with its diaspora has focused largely on remittances. Today, we are moving beyond that. This platform represents a transition from simple money transfers to a financial ecosystem where Africans globally can bank, make payments, invest, protect their families, and build long-term wealth seamlessly,” he said.

Rao noted that African diaspora remittance flows exceed $100 billion annually, making them one of the most resilient and consistent sources of capital into the continent.

“Diaspora capital is not just a flow of funds — it is a strategic growth partner for Africa.
Our role is to provide a trusted platform that converts capital into structured investment and shared prosperity across the continent.”

The objective is to provide a platform that brings together offerings across the numerous needs of the Global African, including Banking and payments, Investments, securities services, asset management, Insurance, Pensions, real estate and Pensions.

Through this coordinated ecosystem, diaspora customers can access financial solutions across multiple sectors through a single trusted platform, enabling them to manage their financial lives and family commitments across borders with ease and transparency.

UBA’s Group Head, Marketing and Corporate Communications, Alero Ladipo, emphasised the importance of collaboration in delivering a seamless diaspora experience.

“The modern African is a global citizen — mobile, ambitious, and deeply connected to home. Whether living in Africa, Europe, the Americas, or the Middle East, there must be a structured and secure financial connection back home. This platform ensures that Africans everywhere can remain economically connected to the continent with confidence and transparency.”

Partners within the ecosystem highlighted growing demand among diaspora Africans for structured investment opportunities, secure property ownership, insurance protection, and long-term financial planning.

United Capital showcased globally accessible investment products designed to deliver professionally managed and transparent wealth creation opportunities.

Afriland Properties emphasised structured and well-governed real estate investment pathways for diaspora clients.

Heirs Insurance highlighted protection solutions for life, and assets, while Avon Healthcare Limited demonstrated healthcare access and insurance solutions for families across borders.

Africa Prudential and UBA Pension reinforced digital investment management and long-term pension savings solutions designed to support diaspora participation in African capital markets.

Together, the partners underscored a shared commitment to providing diaspora Africans with credible, transparent, and professionally managed financial pathways.

Rao also reiterated the guiding philosophy of Africapitalism, championed by UBA’s Founder and Chairman, Mr. Tony O. Elumelu, CFR.

He explained that Africapitalism is the belief that Africa’s private sector must play a leading role in the continent’s development by making long-term investments that generate both economic returns and social impact.

As Africa continues to position itself as one of the world’s most dynamic growth frontiers, UBA believes mobilising diaspora capital through trusted financial institutions will be central to shaping the continent’s next phase of development.

“Africa will increasingly be financed by Africans themselves, including Africans abroad.

“Our responsibility is to build the trusted financial infrastructure that makes this possible.

“When Africa’s global citizens invest back into Africa, growth becomes inevitable,” he concluded.

Business

Dangote Refinery’s Crude Distillation Unit and Motor Spirit Block Hit 650,000bpd Capacity

Published

3 weeks ago

February 12, 2026

Eric

Dangote Refinery’s Crude Distillation Unit and Motor Spirit (MS) Block Hit 650,000 bpd Capacity
…First Refinery In The World to Attain This Feat

The Dangote Petroleum Refinery has achieved a major operational milestone with the full restoration and optimisation of its Crude Distillation Unit (CDU) and Motor Spirit (MS) production block. Both units are now running at optimal performance, further strengthening the steady state operations of Africa’s largest oil refining facility.

Following a scheduled maintenance exercise on the CDU and MS Block, the refinery has commenced an intensive 72 hour series of performance test runs in collaboration with licensor UOP. These tests are designed to validate operational efficiency and confirm that all critical parameters meet global standards.

Chief Executive Officer, David Bird, noted that the seamless integration and strong performance of the units demonstrate the refinery’s advanced engineering and robust operational capabilities.

“Our teams have demonstrated exceptional precision and expertise in stabilising both the CDU and MS Block, and we are pleased to see them functioning at optimal efficiency. This performance testing phase enables us to validate the entire plant under real operating conditions. We are confident that the refinery remains firmly on track to deliver consistent, world class output.

This milestone underscores the strength, reliability, and engineering quality that define our operations. We remain committed to producing high quality refined products that will transform Nigeria’s energy landscape, eliminate import dependence, and position the nation as a net exporter of petroleum products.”

Bird added that the CDU and MS Block, which comprise the naphtha hydrotreater, isomerisation unit, and reformer unit, are now operating steadily at the full nameplate capacity of 650,000 barrels per day. He further confirmed that all remaining processing units will begin their respective performance test runs in Phase 2, scheduled to commence next week.

During the recent festive period, the refinery supplied between 45–50 million litres of Premium Motor Spirit (PMS) daily. With the CDU and MS Block now fully restored, the refinery is positioned to comfortably deliver up to 75 million litres of PMS to the domestic market as required.
Expressing appreciation to customers and Nigerians across the country, Bird reaffirmed the refinery’s unwavering commitment to enhancing Nigeria’s energy security while supporting industrial development, job creation, and economic diversification.

Business

FirstHoldCo Grows Gross Earning to N3.4trn for Unaudited Full Year 2025

Published

1 month ago

February 1, 2026

Eric

First HoldCo Plc has announced its unaudited financial results for the year ended 31 December 2025, reflecting a year of deliberate strategic actions aimed at strengthening its balance sheet, improving asset quality, and positioning the business for more resilient and sustainable growth amidst successful capital raise activities.

As stated in the unaudited Group financial statement, FirstHoldCo recorded a 4.8% year-on-year (y-o-y) increase in its Gross earnings to N3.4 trillion, supported by a 36.3% y-o-y growth in net interest income of N1.9 trillion on the back of enhanced earnings yield and margins of 17.11% and 11.0%, respectively. Similarly, net fees and commissions improved by 18.7% y-o-y to N290.7 billion. These are clear indications of the strength of the revenue generating capacity of the core business which continues to be solid. Earnings for the year were, however, lower than the prior year, primarily due to higher impairment charges in the commercial banking segment. This is in line with a deliberate strategic decision to accelerate balance sheet clean-up and adopt more aggressive provisioning standards. Management views this as a prudent step that enhances transparency, strengthens investor confidence, and aligns fully with evolving regulatory expectations.

Additionally, increased regulatory costs affected profitability. These charges, while weighing on the results, underscore the Group’s compliance with Nigeria’s financial system stability framework and its commitment to ensuring systemic confidence. Despite these pressures, underlying performance of the Group remains strong.

Deposit liabilities grew by 10.0% y-o-y, driven by sustained deposit mobilisation and continued investment in digital banking platforms. This growth reflects strong customer confidence and deepening engagement across key segments. The deposit mix also showed a deliberate reduction in foreign currency deposits, resulting from the repayment of expensive funding and the impact of naira appreciation. This shift supports improved funding efficiency and reduces foreign exchange risk.

Gross loans and advances declined marginally, reflecting a disciplined approach to credit growth, strengthened risk management, loan repayments, write-offs, and the translation impact of a stronger naira on foreign currency facilities. The Group intensified its commitment to ensuring a high-quality, cleaner asset base, aiming to optimise the portfolio and enhance future earnings potential.

Furthermore, performance in earnings was impacted by a decline in non-interest income, mainly due to lower fair value gains on financial instruments following the naira appreciation in 2025. However, this was partially offset by stronger foreign exchange (FX) trading income and reduced FX revaluation losses. Net fees and commission income also grew, supported by higher electronic banking fees, letters of credit commissions, custodian fees, and account maintenance income, reflecting the continued success of the Group’s digital-innovation strategy.

While impairment charges increased following the end of regulatory forbearance, management has intensified recovery initiatives and reinforced credit oversight. Excluding impairment and fair value gains, pre-provision operating profit grew by 23.9% y-o-y to N973.3 billion demonstrating robust performance of the core business.

Apart from the commercial banking impairments, performance across the rest of the Group remained resilient, supported by steady customer activity and disciplined execution.

Looking ahead, the Group will continue to prioritise disciplined execution of its strategic objectives, with emphasises on enhancing efficiency and profitability, continuing to build on the Group’s digital and data capabilities, while sustaining a robust balance sheet to support increased value creation and returns for shareholders. Alongside this, the Group will pursue selective growth initiatives, including new revenue streams, additional business verticals, and deeper participation in targeted African markets, in line with our strategy and risk appetite.

Further details and insights are to be provided when the audited full-year results are published and during the subsequent investor and analyst earnings call.