Business
UBA @75: We Are Dedicated to Building Relationships with Customers, Employees, Regulators, Others – Alawuba

By Eric Elezuo
Africa’s global bank, the United Bank for Africa (UBA) has reiterated that commitment and dedication to building relationships with customers, staff, regulators, relevant stakeholders and the general public, remains its primary objective.
The bank made known this fact through its Group Managing Director/Chief Executive Officer, Mr. Oliver Alawuba, on Monday, while addressing a global press conference at the corporate headquarters on the Marina, Lagos, on the road to greatness as the bank hits a legendary 75 unbroken years of banking invincibility.
Anchored by Arise News presenter, Boston Omafaye, the gathering was an opportunity to present firsthand the strides the bank has made in the anals of Nigerian banking history as well the spectacles of pan African bank, the Africa’s global bank.
The proceedings kickstarted with a welcome address by the Group Deputy Managing Director, Mr. Muyiwa Akinyemi, who expressed satisfaction and joy at the announcement of the super Diamond jubilee of the bank.
“Today, we gather to announce a remarkable milestone in transmission journey of United Bank of Africa, our 75th Anniversary. This anniversary is very dear to us, here in UBA not only in Math, our legacy signifies our transmission journey from the British and French Bank established in 1949 to becoming the lead financial service institution in Africa in the entire Africa’s global bank. UBA, today operates across four continents; present in 20 African countries, United States of America, United Kingdom, France and United Arab Emirates. Over the past 75 years, we have exemplified stability, reliability and excellence in banking, achieving numerous milestones, some of which will be listed today, impacting positively in the community we serve, our commitment as well as our financial strength and resilience over the years have been key to our success; our robust performance, especially in the last couple of years and commitment to exceptional excellence.
“I am sure, for everyone in this room that you agree that UBA remains an attractive investment as it continues to imbibe exceptional values to our dear holders at UBA, earning sustainable goals per success.
In his address, which followed shortly, the GMD/CEO reminded all and sundry that UBA has a long history of men and women, who have contributed to creating the financial service power house that the bank has become. He, therefore, deemed it right to give appreciative glances to deserving contributors to the high flying status of the bank.
“So it is right for me, first and foremost to acknowledge and appreciate all those that works in UBA in various capacities over the years. I would like to appreciate all Former group board chairman, all former MD/CEOs of UBA, all former members of the board, all former members of the executive management committee of UBA, all former executive committee members and executives all over various countries in Africa where we are present, all those that work as drivers in UBA, all those that work as security men in UBA, all those that worked and retired as dispatch riders, all those that served the customers over the years, I will like to appreciate you and commend you for your contributions in UBA,” the GMD said.
He observed also that while honoring the past leaders of UBA, the present must be commended for holding the forte, while looking forward to future leaders who will continue to raise the bars of banking in Africa globally.
“To this end”, he said, “permit me to also celebrate our current executive and board members that are working tirelessly across the four continents, the board members of UBA, All staffs of UBA, for all your sacrifices, contributions, support and guidance over the years, we would not be where we are today…Our group chairman truly deserves special recognition.
“Without that push in 2005 and the tutelage, I doubt we would be where we are today. For this and more, we say a resounding thank you to you. I will like to also take this opportunity to thank all customers of UBA around the world for your consistent support and patronage over the years. You meet several people all the time and they will tell you that they are the third and fourth generation of UBA customers in their families, that their grandparents and parents were customers of UBA and their children currently carry ATM cards in child banking. This is the strength of UBA. This milestone is not just a celebration of longevity but a testament to the zealous ovation and unwavering commitment to excellence that defines UBA journey over the years.”
Alawuba went on to reel out the initiatives, deliverables and achievements of the bank in the last 75 years and a projection of the future as follows:
“As we reflect on the significance of people making the chart, it is important to note that UBA means different things to different people. To some, UBA is a trusted financial party, for others, UBA is a beckon of stability and reliability in the governmental partner in government community across Africa as well as a catalyst for Africa development.
“Since the inception in 1949, UBA has been grown for a modern beginning in Lagos to a global financial institution with present in 20 African countries and in 4 global financial left centers of the world, in New York, in London, in Paris.
“Today, we have over 25,000 staffs, over 35 million personnels served through multiple channels, over two hundred and fifty terminals, over two thousand ATM cards, one thousand business offices and close to 20 million card customers.
“The past 75 years have been marked by stability and excellence. UBA is the first bank in Nigeria to offer initial public offering in 1970. UBA is the first bank in the banking system of Nigeria to be listed on the Nigeria stock exchange. UBA is the only bank in Sub Saharan Africa that has a deposit taken licence in the United States of America. UBA is the first bank in Nigeria to install an ATM. Because of our commitment to the youths, UBA is the first bank to open a campus branch in the university. UBA is the first bank in Nigeria to move beyond the shores of Nigeria to open a subsidiary in Africa and that is UBA Ghana in 2005.
“UBA is the first bank to have the first female chairperson in Nigeria. Mobile banking was first introduced in Nigeria by UBA. And recently, we launched the first multilingual chart war banking in Nigeria.There are too much of these that time will not permit me to list. Amidst economic challenges and marketers, UBA has demonstrated remarkable financial strength and resilience. Our straining performance especially within the last one year is a testament to our robust fundamentals and strategic decisions that we have taken. As we navigate through the other chaining landscape, we remain committed to creating a value for our stake chair holders and paparazzi on mining opportunities in the market.
“Innovation and digital transformation are the key act of UBA strategy for future growth and competitiveness. We will continue to invest in innovating products, services on social platforms that enhance customer experience and drive proportional efficiency.
“Our commitment to corporate social responsibility is strong with initiatives focused on education, healthcare, entrepreneurship thus making a concrete impact on communities across Africa.
“Looking at this, our vision is clear; to be a role model for African businesses. UBA is one bank uniting Africa and connecting Africans to the world and the world to Africa. Our primary focus is to be the permanent bank for capital growth, trade and investment between Africa and the rest of the world. We are committed to expanding our presence, ceasing opportunities as a value to all stakeholders. Collaborations and partnerships are exemplified by the recently signed agreement that we had with African continental Secretariat where UBA is putting forward $6 billion for SME funding for Africans.
“We are dedicated to building relationships with customers, employees, regulators and other stakeholders for mutual benefits and long term success.
“As I round up, I will like to reiterate UBA’s commitment to personal philosophy which is our primary business strategy; The customer is our employer, and the sole reason we come to work. Our key pillars of service; people, technology and process are all geared towards the delivery of excellence customer experience which is our promise.
“As we embark on the next phase of our journey, I urge all stakeholders to continue their support and collaboration with UBA. Together, we will ride the next chapter of success for United Bank of Africa plc.
“In conclusion, I will like to leave you with the words of philosopher and social critic, Soren Gilbert and I quote, ” honour the past, celebrate the present, embrace the future, life can only be understood backwards but it must be lived forward.”
The 75 year anniversary is a stretched celebration that will culminate in a gala nite in November 2024.
Business
Glo’s MoneyMaster Introduces New Agency Software to Enhance Service Delivery

Payment service bank, MoneyMaster PSB, has announced the integration of a new agent banking software with powerful and secured features to enhance its agency banking offerings and encourage financial inclusion.
The new agency banking software extensively supports a variety of agency banking services, such as paying bills, instantly reversing unsuccessful transactions, paying for lottery and betting, checking customers’ balances, linking cards to point-of-sale systems, and retrieving transaction histories from other channels.
The basic banking platform of MMPSB has been connected with the new software to enhance the experience of agents, clients, and other value chain stakeholders in their daily transactions.
The bank disclosed that the new software was implemented “to provide a seamless banking experience to customers using our POS terminals across the country. Customers can now enjoy a wide range of banking transactions from a single point while improving revenue streams for Agents.
MoneyMaster has now joined the league of leading financial institutions with state-of-the-art technology for POS terminal operations thanks to the implementation of the new software. The bank was among the first to promote USSD banking among the financially excluded population after obtaining its payment service banking license. Later on, it added internet and mobile banking apps to its list of banking channels.
In addition to supporting customers with creative, customer-focused solutions to improve their banking experience, Moneymaster PSB is dedicated to advancing financial inclusion among the unbanked and underbanked population. Because of the smooth payments made on its point-of-sale terminals. the Lagos State government last year chose MoneyMaster as a payment partner for the Ounje Eko food discount store in order to collect payments on its market days.
Business
Dangote Refinery Slashes Petrol Price to N890 Per Litre

The Dangote Petroleum Refinery, on Saturday, announced a reduction in its ex-depot price of petrol from N950 to N890 per litre.
It said the price adjustment is in response to favourable developments in the global energy sector and a significant decline in international crude oil prices.
A statement from Dangote Petroleum Refinery, issued by the Group Chief Branding and Communications Officer, Anthony Chiejina, explained that the latest move follows a similar decision on January 19, when a modest price increase was implemented due to rising crude oil costs.
He aaid with recent global market trends indicating a decline, Dangote Refinery has once again adjusted its pricing structure, providing relief to Nigerians.
The statement also noted that the price reduction would significantly lower the cost of petrol across the country, generating a positive ripple effect throughout the broader economy.
“Dangote Petroleum Refinery firmly believes that this reduction from N950 to N890 will result in a meaningful decrease in the cost of petrol nationwide, thereby driving down the prices of goods and services, as well as the overall cost of living, with a positive ripple effect on various sectors of the economy,” the statement noted.
The refinery has also called on marketers across the country to ensure that the benefits of the reduced price are passed on to the Nigerians while reiterating its support for the economic revival spearheaded by President Bola Tinubu, whose administration is focused on making Nigeria self-sufficient in refined petroleum products and positioning the country as a leading oil export hub.
“This collective initiative will contribute to the wider economic recovery plan led by His Excellency, President Bola Ahmed Tinubu, who is dedicated to making Nigeria self-sufficient in refined petroleum products and positioning the country as a leading oil export hub,” it added.
Business
Dangote Refinery Distances Self from Petrol Pump Price Hike

Dangote Petroleum Refinery has distanced itself from allegations of arbitrarily increasing petrol pump prices.
The refinery attributed the recent adjustment in the ex-depot price of Premium Motor Spirit to fluctuations in global crude oil prices.
This was contained in a press release titled “Increase in Pump Price Not From Us”, issued on Sunday by Anthony Chiejina, Group Chief Branding and Communication Officer.
The statement read: “The recent adjustment in our ex-depot price of Premium Motor Spirit (Petrol) is directly related to the significant increase in global crude oil prices.
“As crude oil remains the primary input in the production of PMS, any fluctuation in its international price inevitably impacts the cost of the finished product.”
The refinery clarified that while its ex-depot price increased by 5%, from N899.50 to N950 per litre, the adjustment remains significantly lower than the 15% rise in global crude oil prices.
“Brent Crude rose from $70 to $82 in a matter of days, alongside the premium for Nigerian crude (approximately $3 per barrel). Despite this, we have kept our Single-Point Mooring (SPM) ex-vessel price steady at N895 per litre,” the statement added.
In a bid to shield consumers from the full impact of rising costs, Dangote Refinery disclosed it has absorbed approximately 50% of the cost increases caused by surging global crude oil prices.
The refinery’s partners, including Ardova, Heyden, and MRS Holdings, will retail petrol at a uniform price of N970 per litre across Nigeria.
“Without our intervention, the retail price of PMS could have risen to N1,150 or even N1,200 per litre in some locations. This demonstrates our unwavering commitment to affordability and quality, even in challenging times,” the statement explained.
To address concerns over price transparency, the company announced plans to publish its ex-depot, ex-vessel, and pump prices on a weekly basis.
“In the interest of transparency and good governance, consumers will now have access to accurate information to ensure they are not exploited,” the statement assured.
Additionally, the company expressed gratitude to President Bola Tinubu for introducing the Naira for Crude Initiative, describing it as “visionary.” Dangote Refinery noted that the initiative ensures consistent access to high-quality PMS for Nigerians while mitigating the effects of global oil market volatility.
The statement concluded with a reaffirmation of the company’s dedication to serving Nigerians.
“We sincerely appreciate the continued trust and support of Nigerians as we strive to deliver the best value for their money and contribute to the development of a self-sufficient economy that is resilient to international price fluctuations,” it said.
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