Tony O. Elumelu Launches Empowerment Fund to Revitalize Distressed Communities across Nigeria

Tony O. Elumelu

Tony O. Elumelu Founder of The Tony Elumelu Foundation and Chairman of Heirs Holdings has announced the launch of The Elumelu Nigeria Empowerment Fund. The Fund was launched by President Goodluck Ebele Jonathan of Nigeria, with the purpose of revitalizing the economies of post conflict and disaster communities across Nigeria. The Elumelu Nigeria Empowerment Fund was created out of the N2.5 billion donated by The Tony Elumelu Foundation and Heirs Holdings companies. This donation was announced at the Presidential Fundraising Dinner for the Victims Support Fund in July 2014. Given to support distressed communities across Nigeria, N1 billion was immediately disbursed to the Victims Support Fund, while the remaining N1.5 billion now serves as the initial seeding for The Elumelu Nigeria Empowerment Fund. The Fund will focus on communities like those in the Niger Delta and Jos. “Rehabilitating distressed communities will require interventions not just from the government, but also from the private sector. Therefore, I am pleased to see that Tony Elumelu, one of our private sector leaders, stepped up in a big way - by making a major contribution to the Victim Support Fund and that his effort did not end there as he has now created The Elumelu Nigeria Empowerment Fund” said Nigerian President Goodluck Ebele Jonathan.

Gowon, UBA GMD, Adesina, Others Receive Leadership Awards

Former military head of state, General Yakubu Gowon, Group Managing Director and CEO of United Bank for Africa (UBA) Plc, Phillips Oduoza, Minister of Agriculture, Dr. Akinwunmi Adesina were among many other credible and distinguished Nigerians honoured yesterday at the annual LEADERSHIP Annual Conference and Awards held at the ThisDay Dome, Abuja. The awards had in attendance top dignitaries from all walks of life including politicians, businessmen and members of the public. General Yakubu Gowon, who will be 80 years on Sunday, October 19, 2014 received award as the LEADERSHIP “Person of the Year” in 2013 for being the voice moderation in an increasingly fractured political environment. Phillips Oduoza, the GMD/CEO of United Bank for Africa Plc received an award as Leadership “Banker of the Year.”

UBA and MoneyGram launch New Outbound Money Transfer Service in Nigeria

Nigeria's money transfer business landscape entered a new phase yesterday as Africa’s global bank, the United Bank for Africa (UBA) Plc and global Money Transfer giant, MoneyGram launched outbound money transfers in Nigeria. The newly launched MoneyGram outbound money transfer service allows Nigerians to send money abroad through any UBA branch in Nigeria or Africa ...


E-commerce in Africa is set to receive a boost as United Bank for Africa (UBA) Plc has introduced an online payments and collections platform tagged U-bills. The online payment platform has been enabled in all the 19 countries where UBA has operations. U-bills, is a collection and bill payments platform that allows sellers to collect payments online or on their mobile devices like tablets and smart phones. It also provides a one-stop platform for customers to make payments for goods and services on their mobile phones, tablets or personal computers as long as they have an internet connection on the devices.

“The uniqueness of the U-Bills platform is that it is a single payment gateway where all forms of payments to different merchants can be made. It is not a single-merchant platform. All merchants can register on U-Bills to receive payments for goods and services. Also, anyone can go online and register to make payments for goods and services bought” explained Yinka Adedeji, Divisional Head, e-banking. With U-bills, customers have the flexibility to make online payments anytime of the day or night or week to sellers for goods bought or services rendered. "This means, it no longer matters where you are in the world. So far you are African and are from any of the Countries where UBA is, you can now pay your bills, top up phones of your loved ones and still pay for services without moving an inch."

Customers registered on U-Bills can recharge their mobile phones, pay their cable TV bills quickly and easily and pay their utility bills in any of the 19 countries in Africa where UBA has operations. Already, some top merchants that have registered on U-Bills to receive payments include leading telecom operators like; MTN (top-up and post-paid), Etisalat, Glo, and Airtel. Customers of these telecom operators registered on U-Bills, can buy air-time or top-up on the U-Bills platform.

UBA Group Appoints Tony O. Elumelu as Chairman

Tony O. Elumelu

The Board of United Bank for Africa Plc (UBA) today announced the appointment of Mr. Tony O. Elumelu, C.O.N. as Chairman, succeeding Ambassador Joe Keshi. Mr. Elumelu is Chairman/CEO of Heirs Holdings, the pan-African proprietary investment company, founded by Mr. Elumelu in 2010, which holds stakes in a number of leading African businesses, including Transcorp, Nigeria’s largest listed conglomerate by market capitalization, as well as UBA. Elumelu retired as Group Managing Director and CEO of UBA in 2010, following the introduction by the Central Bank of Nigeria of 10-year tenure limits for bank CEOs. He had served as CEO of the UBA Group for 13 years, where he was responsible for the creation of today's UBA, a financial services institution that built a reputation for innovation and the democratisation of banking services and now spans Africa, providing services to more than 10 million customers, across the continent and in London, Paris and New York. Widely regarded as one of the most influential business leaders in Africa, Elumelu has developed a reputation for identifying value and bringing a long term investment orientation and discipline to sectors critical to Africa's development, including financial services, power, oil and gas, agribusiness, real estate and hospitality.

UBA GMD/CEO Urges African Banks To Use US-Africa Business Leaders Summit To Grow Capacity

Phillips Oduoza, Group Managing Director & Chief Executive Officer of UBA Plc

The Group Managing Director/CEO, UBA Plc Mr. Phillips Oduoza has called on financial institutions in Africa to seize the opportunity provided by the President Obama led US-Africa Business Leaders Summit and the enthusiasm about Africa, to grow capacity. According to him, much of the challenges of financing growth and development on the continent lie in the hands of financial institutions, working in collaboration with international development finance institutions, investors, and private equity firms particularly from the US. Speaking in Washington DC, the UBA boss said the three-day summit will impact positively on helping to change the information asymmetries about Africa in the US and the rest of the world. Beyond the negative press about the continent in the western media, he said there are a lot of positive developments in Africa, with stable democracies in most countries, improved business climates and abundant investment opportunities in agriculture, power, transportation, telecommunications, energy

UBA Targets New Generation of Customers with Next-Gen Account

United Bank of Africa (UBA) Plc is set to build a new generation of loyal customers with its new suit of products tailored to meet the unique needs of teenagers and young adults. The product “Next-Gen” account, which was launched at Intercontinental Hotel on Monday, is basically a suit of personal current accounts designed to offer special privileges and opportunities to account holders.

The Lion King Magazine - An In-House Publication of the United Bank of Africa

Editor's Letter

Africa is rising and as a pan-African bank, we strongly believe in the future of Africa. The continent’s prospects are very bright, driven by strong economic reforms combined with a growing and young population. Our lead story explores Africa’s consumer market and the huge opportunities it holds for consumer banking in future. It shows, as a panAfrican financial institution, how we are not only facilitating the emergence of the African continent, but are also positioning to be part of that future.


UBA Foundation Intensifies Campaign on Prostate Cancer

UBA Foundation, the corporate social responsibility arm of United Bank for Africa (UBA) Plc, weekend intensified its awareness campaign against Prostate Cancer through an initiative tagged ‘Cycling for Prostate Cancer’.

2013 National Essay Competition - UBA Foundation Calls for Entries from Senior Secondary School Students In Nigeria

Students in secondary schools across the country have been invited to submit entries in the 2013 UBA Foundation National Essay Competition. The essay competition for secondary students is organized by UBA Foundation; the corporate social responsibility arm of UBA to encourage healthy and intellectual competition among secondary school students in Nigeria. More»

President Uhuru Kenyatta Seeks UBA Support to Make Nairobi an International Financial Centre

Kenyan president Uhuru Kenyatta has unveiled plans to make Nairobi an international financial centre and is calling on UBA to play a pivotal role in seeing to the actualization of this plan. Kenyatta said the bank, as an African financial services institution, is in pole position to bring its financial know-how to make this happen. More»

Shareholders Commend UBA Management for 2012 Financial Performance»

Shareholders of United Bank for Africa have commended the board and management for the Bank's sterling performance. More»

UBA Achieves Impressive Performance in Key Parameters, Posts U.S.$200 Million in Half Year

United Bank for Africa Plc, one of the largest financial institutions in Africa, with presence in 18 African countries and three global financial centers has continued with its impressive results for the financial year. More»

UBA Positions Card Products for Summer Travellers… Introduces Added Benefits

United Bank for Africa (UBA) Plc is making summer travel as hassle-free as possible for its Customers with its rich bouquet of Card products by ensuring that Customers who go on summer trips. More»

UBA Deepens eBanking Channels

Nigeria's leading and most innovative e-Channels provider, the United Bank for Africa (UBA) Plc, has introduced a reloadable prepaid card offering customers financial control, convenience and security. More»

New Commercial Banking Structure for UBA

Under the new arrangement, the divested non-commercial banking businesses (except Africa Prudential Registrars and Afriland Properties that will be held directly by shareholders) will be consolidated within UBA Capital Plc. More»

UBA Wins 2012 African Bank of the Year

The Banker Magazine's "Bank of the Year" award is selected based on the overall performance of the financial institution and the opinion of leading global financial analysts. More»

Fitch and GCR Assign Good Credit Ratings On UBA

GCR assigned UBA a long term national rating of AA- and a long term international rating of B+, both with stable outlook. In a related development, Fitch affirmed UBA's long term foreign currency rating at B+ and its long term national rating at A+. More»

Tony Elumelu Foundation and Allworld Network's 'Nigeria Fast Growth 50'

Tony Elumelu

The Nigeria50 Awards event and summit scheduled for early 2013 will be hosted by The Tony Elumelu Foundation and AllWorld, with Professor Michael Porter participating in the Nigeria summit as the keynote speaker. More»

UBA Celebrates 2013 Most Valuable Performers (MVPs)

As an institution committed to creating best-in-class work environment for employees, United Bank for Africa (UBA) Plc at the weekend held the third edition of the Most Valuable Performer (MVP) recognition award ceremony designed to motivate and encourage individual staff performances toward the attainment of the bank's corporate goals and business targets.

Group Managing Director/CEO, United Bank for Africa (UBA) Plc, Mr. Phillips Oduoza, presenting the Most Valuable Performer (MVP) Award to Lawal Kolawole, a third time winner, while Executive Director, Human Resources and Customer Service, UBA Plc, Obi Ibekwe watches, during the special recognition awards ceremony for UBA MVPs at the Bank’s Head Office in Lagos.

UBA Foundation Reaffirms Commitment to Development of Nigeria’s Health Sector- Donates Incubators to UNTH, AKTH

UBA Foundation, the corporate social platform of United Bank for Africa (UBA) Plc has reaffirmed its commitment to the development of Nigeria’s health sector especially in the area of improving and contributing to the reduction of infant mortality rate in the country. More»

UBA Commissions State-of-the-Art Security Operations Centre for More E-Banking Security

United Bank for Africa (UBA) Plc has taken a major step to secure all electronic banking transactions in the bank and protect its customers against cyber crimes and other forms of e-banking threats. More»

“Agriculture is Big Business” says UBA CEO

The capacity for businesses in the agricultural sector in Nigeria to engineer economic growth and sustainable development, generate employment and reduce poverty is the major reason for the UBA Group’s significant increase in lending to the sector. More»

UBA Wins Best Banks Awards in Cameroon and Senegal

In March, United Bank for Africa Plc subsidiaries UBA Cameroon and UBA Senegal were named ‘Best Banks’ in their respective countries by Global Finance magazine in New York - the world’s leading corporate finance magazine. More »

UBA Listed in FTSE ASEA Pan African Index

United Bank for Africa (UBA) Plc has been selected as one of the few securities from 19 African Stock Exchanges included in the FTSE African Securities Exchanges Association (ASEA) Pan African Index. More»

Doing Business in Nigeria: Creating Wealth From Opportunities in Africa's Largest Market

A presentation delivered by Phillips Oduoza GMD/CEO, United Bank for Africa PLC at the Nigeria Economic and Financial Markets Conference, London. More»

UBA, MoneyGram Donates Playground to Benin Hospital

Mr. Owoeye Ilesanmi, Director of UBA's Consumer Banking with Professor Micheal Ibadin, Chief Medical Director at the University of Benin Teaching Hospital and UBA Regional Bank Head Mrs. Joan Abolo during the commissioning of a Kindergarten Playroom Centre.

The UBA Foundation

As the Corporate Social Responsibility arm of the UBA Group, UBA Foundation is committed to the socio-economic betterment of the communities in which the bank operates, focusing on development in the areas of Environment, Education, Economic Empowerment and Special Projects. More on UBA Social Responsibility»