United Bank

A Nigerian firm, the Mercury Maritime Concession Company (MMCC), has proffered a solution to the congestion at the nation’s seaports and related traffic gridlock in Lagos.

Chairman of the United Bank of Africa (UBA), Mr Tony Elumelu, has stressed the need to unlock the potential of youths in Africa, in order to catalyse the socio-economic development of the continent.

The Patriots for the Advancement of Peace and Social Development (PAPSD) has asked the new Chairman of the Economic and Financial Crimes Commission (EFCC) to investigate alleged diversion of N37.4 billion promissory notes by the administration of Abdulazeez Yari in Zamfara.

Seplat Petroleum Development Company, a Nigerian independent oil and gas firm, has issued $650 million in aggregate principal amount of senior notes due in 2026.

Delta Governor Ifeanyi Okowa has congratulated Chairman of United Bank for Africa (UBA), Tony Elumelu, on his 58 birth anniversary.

Justice Oluremi Oguntoyinbo of the Federal High Court in Lagos on Tuesday declined to vacate an interim injunction directing 20 banks to block Shell Petroleum Development Company of Nigeria (SPDC) and its subsidiaries’ bank accounts.

The Federal High Court, Abuja, on Wednesday, held that the request by Abdulrasheed Maina, Chairman, defunct Pension Reformed Task Team (PRTT), seeking it to compel some persons to testify in his ongoing trial was done in haste.

A former executive secretary of the Lagos State Scholarship Board, Stephen Oshinowo, diverted the board’s N127 million to his personal use, an EFCC investigator has said.

The Nigerian Stock Exchange (NSE) on Friday moved 307.79 million shares valued at N2.91 billion exchanged in 4,393 deals.

The local bourse sustained its negative run on Thursday recording the fourth consecutive loss, following profit taking in Dangote Cement, Zenith Bank and United Bank for Africa stocks.

ANOH Gas Processing Company Limited (AGPC), a gas processing company established by the Nigerian Gas Company (NGC) and Seplat Petroleum Development Company Plc (Seplat) on a 50-50 basis has successfully raised $260million in debt to fund the completion of the AGPC Gas Processing Plant. The financing was more than 50percent oversubscribed.

Positive sentiments persisted on the Nigerian Stock Exchange on Wednesday with the All-Share Index extending growth by 0.11 per cent.

Reason: the industry is faced with a tougher operating environment that could threaten the operators’ ability to meet their stakeholders’ needs and expectations yet perform meaningful corporate social responsibility roles.

The Patriots for the Advancement Of Peace and Social Development (PAPS) has called on the Central Bank of Nigeria (CBN) to obey the orders of a Federal High Court, Abuja, restraining it from going ahead to process the N14.9billion promissory notes belonging to Zamfara State in favour of the United Bank for Africa (UBA).

Nigeria extended bullish posture on Wednesday with the market capitalisation increasing further by N214 billion on sustained bargain hunting of blue chips.

Nigerian Stock Exchange (NSE) on Thursday reversed its uptrend, dropping by N2 billion ahead of the Christmas celebration.

Many banks in different parts of Port Harcourt, the capital of Rivers State, were unable to meet cash demands of customers on Monday as residents trooped out in their numbers to withdraw money ahead of the Christmas and New Year festivities.

The Nigerian Stock Exchange (NSE) market indicators on Tuesday dropped further by 0.09 per cent on sustained profit taking embarked on by some investors.

Group Managing Director/Chief Executive Officer, United Bank for Africa (UBA) Plc, Kennedy Uzoka, was on Sunday night presented with The Zik Prize for Professional Leadership. g

Efforts to grow the nation’s economy has received a boost from the banking sector as six leading banks injected additional N1.337 trillion through loans and advances to their customers across all sectors of the economy between January and September 2020.

In obvious recognition of its brand acceptance and its role in facilitating economic development across Africa, six subsidiaries of pan African financial institution, United Bank for Africa (UBA) Plc have been named ‘Bank of the Year 2020’ by the Banker Magazine, leading global finance news publication published by Financial Times of London.

The Nigeria stock market on Tuesday sustained bullish sentiment to open the month of December with N55 billion growth due to buying interests in Tier 1 banks.