UBA’s $200m Lifeline Excites Oil Industry


The fresh impetus is coming to the Nigerian petroleum industry, courtesy a $200million facility from Africa’s leading pan-African financial services group, the United Bank for Africa Plc, UBA. The bank has acted as an Initial Mandated Lead Arranger with a consortium of Nigerian commercial and international banks in a $1.5 Billion Pre-Export Finance Facility for Eagle Export Funding Limited, to enable the forward sale of crude by the Nigerian National Petroleum Corporation (NNPC) and its upstream subsidiary, the Nigerian Petroleum Development Company (NPDC). According to a statement from the bank,…

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Heirs Holdings Appoints Dan Okeke As Group Executive Director

Dan Okeke

A pan-African investment company, Heirs Holdings this week announced the appointment of Dan Okeke as Group Executive Director.  The appointment took effect from August 01, 2020. Mr. Okeke joins following a distinguished three-decade career at the United Bank for Africa Plc (UBA), where he most recently served as an Executive Director, responsible for leading consumer, commercial and public-sector businesses.  At HH, he will be responsible for business coordination and growth across Heirs Holdings’ portfolio of pan-African investments in the power, financial services, oil and gas, hospitality, real estate, healthcare, and financial technology…

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Tayo Amusan, The Nigerian Man Who Is Likely To Buy ShopRite


Nigerians woke up on Monday 3RD OF July,2020  to the news that ShopRite, Africa’s largest food retailer is planning to exit Nigeria by selling off its outlets in the country The company later clarified the news in an update filed at the Johannesburg Stock Exchange (JSE) that it is not ‘exiting Nigeria’ but opening up to sell some of the shares of its Nigerian subsidiary to local investors. In the report, “Following approaches from various potential investors, and in line with our re-evaluation of the group’s operating model in Nigeria,…

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SHOPRITE To Exit Nigeria After 15 Years

        South Africa’s grocery retailer ShopRite is leaving Africa’s biggest market, Nigeria, 15 years after it opened shop in the West African country. The announcement by ShopRite came months after another South African brand, Mr. Price, exited the market. International supermarkets (excluding Nigeria) contributed 11.6% to group sales and reported a 1.4% decline in sales from 2018. South African operations contributed 78% of overall sales and saw an 8.7% rise for the year. The company said it has been approached by potential investors willing to take over…

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UBA’s REDTV Premieres Third Season of Africa’s Biggest Online Series –The Men’s Club

UBA’s REDTV Premieres

The buzz was palpable as Africa’s highly-anticipated online series, The Men’s Club (TMC), hit the screens for its third season on Wednesday. The 13-episode smash series is powered by the United Bank for Africa’s Lifestyle and Entertainment channel, REDTV, producers of hit shows such as Our Best Friend’s Wedding, Inspector K, Assistant Madams, Red Hot Topics, Hotel Boutique and many more. The blockbuster series, TMC, which has enjoyed a huge following since its first release in 2018, has taken viewers on a roller-coaster ride with Africa’s most eligible young men…

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Wema Bank Appoints Oluwole Ajimisinmi As ED


The Board of Directors of Wema Bank Plc. has announced the appointment of Mr. Oluwole Ajimisinmi as an Executive Director of the bank. Oluwole Ajimisinmi joined Wema Bank in June 2009 as the Company Secretary/Legal Adviser of the bank and is currently the Regional Executive in charge of the bank’s Retail, Commercial, and Public Sector business in the Lagos Business Directorate of the Bank. Wole is an experienced banking professional with over 25 years’ experience in legal, banking, financial risks mitigation, Commercial lending, transaction structuring, mergers & acquisitions, cross border…

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Armed Robbers Stormed GTbank, Killed One Customer, In Yenagoa Bayelsa State.


There was pandemonium at the premises of Guarantee Trust Bank at the Amarata end of the Sani Abacha Expressway in Yenagoa, the Bayelsa State capital at about 10:30 am this morning, as armed men on a supposed Toyota Camry Car stormed the Bank premises. Some customers of the bank who witnessed the ugly incident said, a middle-aged man was seen leaving the bank with a bag suspected to contain some amount of money. Immediately the man entered a waiting tricycle (Keke), a masked gunman dressed on black clothing highlighted from…

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Transcorp Announces The Appointment Of Mrs. Foluke Abdulrazaq As Board Vice Chairman


Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s leading listed conglomerate, owner of Transcorp Power Limited, one of Nigeria’s largest power producers and the iconic Transcorp Hilton in Abuja, has announced the appointment of Mrs. Foluke K. Abdulrazaq to its Board of Directors, as Vice Chairman, effective Friday, 5th of June 2020. Mrs. Abdurazaq brings considerable experience in both the public and private sectors.  Her public service career includes serving as a Commissioner in the Ministries of Finance and Women Affairs in Lagos State when during her tenure, the broad policies…

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Elumelu Says Covid-19 Presents Opportunity To Reset Africa

Advocates Martial Plan to Boost Electricity And Ease Debt Burden Wants Youths Prioritised as SMEs are Empowered  The Chairman of the United Bank for Africa (UBA) Plc, Tony Elumelu, has stated that the Coronavirus Pandemic currently ravaging the world presents an opportunity to reset the African continent so that Africans can be empowered to become more productive and self-reliant. He said this today at the high-level Roundtable discussions made up of African leaders including Dr. Ngozi Okonjo – Iweala, the Special Envoy of the African Union on Covid-19 and Tidjane…

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Transcorp Group CEO, Owen Omogiafo Unveils New Strategic Vision For Nigeria’s Largest Listed Conglomerate At Company’s AGM

Shareholders of Transnational Corporation of Nigeria Plc (Transcorp) have congratulated the Board and management for the resilient performance achieved in 2019, despite the challenging environment. They welcomed the diversified earnings provided by the Group, Nigeria’s leading listed conglomerate, the largest power generator in Nigeria, the operator of sub-Saharan Africa’s largest hotel, and a growing natural resources player. Transcorp held its 14th Annual General Meeting (AGM) online, due to the Covid19 pandemic, a corporate first in Nigeria. Shareholders participated in the meeting through proxies and a total of 129 proxies representing holders…

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