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UBA appoints 4 Non-Executive Directors

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United Bank for Africa Plc

The United Bank for Africa Plc (UBA), today announced the appointment of four Non-Executive into its Board of Directors.

The new appointees are Ms Erelu Angela Adebayo, Mr Isaac Olukayode Fasola, Ms Angela Aneke, and Mr Abdulkadir J. Bello.

The latest appointments were announced through a corporate disclosure issued to the Nigerian Stock Exchange (NSE), in accordance with the capital market regulator’s Rulebook. The appointments were approved by the Central Bank of Nigeria (CBN) and took effect on August 30th, 2018.

The newly-appointed Non-Executive Directors will replace Rose Okwechime, Adekunle Olumide, Jafaru Paki and Yahaya Zekeri; all of whom recently retired from the company’s Board of Directors.

Below are brief profiles of the newly appointed Non-Executive Directors

Erelu Angela Adebayo: Ms Adebayo is an alumnus of the University of Cambridge where she bagged both an MBA and an MPhil Ph.D. She is a Council Member of the Nigerian Stock Exchange and an experienced real estate professional. She also sits on the Board of several other companies.

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Isaac Olukayode Fasola: Mr Kayode has over 30 years of professional experience covering such areas as banking, insurance, and business strategy development, etc. Prior to his latest appointment, he has served in various managerial and Board positions. He holds two MBAs and is currently pursuing a doctorate degree.

Angela Aneke: Ms Aneke has over thirty years experience in the banking industry; with vast knowledge in such areas as financial control, strategy, corporate banking, etc. She has previously served on UBA’s Board as an Executive Director.

Abdulkadir J. Bello: Mr Bello is an accountant with over thirty years of banking experience. Prior to this time, she has served as a Chief Credit Officer of UBA, and also an Executive Director in charge of Risk Management.

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UBA is a tier 1 Nigerian bank which was established in 1949. Its share price ended trading today at N8.10.

 

Emmanuel is a professional writer and business journalist, with interests covering Banking & Finance, Mergers and Acquisitions, Corporate Profiles, Brand Communication, Fintech, and MSMEs. He initially joined Nairametrics as an all-round Business Analyst, but later began focusing on and covering the financial services sector. He has also held various leadership roles, including Senior Editor, QAQC Lead, and Deputy Managing Editor. Emmanuel holds an M.Sc in International Relations from the University of Ibadan, graduating with Distinction. He also graduated with a Second Class Honours (Upper Division) from the Department of Philosophy & Logic, University of Ibadan. If you have a scoop for him, you may contact him via his email- [email protected] You may also contact him through various social media platforms, preferably LinkedIn and Twitter.

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Coronavirus

COVID-19 Update in Nigeria

On the 27th of September 2020, 126 new confirmed cases and 2 deaths were recorded in Nigeria

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The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 58,324 confirmed cases.

On the 27th of September 2020, 126 new confirmed cases and 2 deaths were recorded in Nigeria, having carried out a total daily test of 3,011 samples across the country.

To date, 58,324 cases have been confirmed, 49,794 cases have been discharged and 1,108 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 505,556  tests have been carried out as of September 27th, 2020 compared to 502,545 tests a day earlier.

COVID-19 Case Updates- 27th September 2020,

  • Total Number of Cases – 58,324
  • Total Number Discharged – 49,794
  • Total Deaths – 1,108
  • Total Tests Carried out – 505,556

According to the NCDC, the 126 new cases were reported from 12 states- FCT (30), Lagos (24), Rivers (23), Ogun (13), Katsina (9), Plateau (9), Ondo (6), Kaduna (4), Kwara (4), Imo (2), Bauchi (1), Edo (1).

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 19,239, followed by Abuja (5,674), Plateau (3,388), Oyo (3,254), Edo (2,624), Kaduna (2,397), Rivers (2,347), Ogun (1,836), Delta (1,802), Kano (1,737), Ondo (1,631), Enugu (1,289), Ebonyi (1,040), Kwara (1,032), Abia (891), Gombe (864). Katsina (857), Osun (827),  Borno (741), and Bauchi (698).

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Imo State has recorded 568 cases, Benue (481), Nasarawa (449), Bayelsa (398),  Jigawa (325), Ekiti (321), Akwa Ibom (288), Niger (259), Adamawa (237), Anambra (234), Sokoto (162), Taraba (95), Kebbi (93), Cross River (87), Zamfara (78), Yobe (76), while Kogi state has recorded 5 cases only.

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

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The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.

On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.

READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

 

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Entertainment

Laycon wins Big Brother Naija, to go home with N85 million worth of prizes

Laycon wins N85 million worth of prizes from Big Brother Naija, Season 5.

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Laycon wins Big Brother Naija, to go home with N85 million worth of prizes

Laycon has emerged winner of the Big Brother Naija Lockdown Season.

The talented rapper/singer beat 19 other housemates to win the coveted N85million worth of prizes after spending 71 days in the Big Brother house and entertaining millions of viewers across Africa.

Laycon and four other housemates – Vee, Neo, Nengi and Dora, after series of evictions made it to the final week of the season’s reality show.

READ: Multichoice may have raked in N5.1 billion from voting on Big Brother Naija

Getting into the house as the 19th housemate and initially assumed as an underdog in the first two weeks, the 26-year-old UNILAG undergraduate came to be admired by fellow housemates and a lot of viewers, including top celebrities for his intelligence, humility and philosophical quotes.

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Weeks into the show, the young man became the first housemate in the current season to be verified on Twitter and Instagram, and also the first-ever housemate to gain over a million followers on Instagram while in the house.

Winning tonight makes Laycon the 5th winner of the reality TV show since its inception.

READ: Africa may lose $4.8 billion in crop exports due to Coronavirus

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N85 million worth of prizes

  • For winning the show, Laycon will be rewarded with
  • N30million cash prize; an SUV from Innoson Motors;
  • a two-bedroom apartment courtesy of Revolution Plus;
  • a trip to Dublin, Ireland, courtesy of Guinness Nigeria Plc;
  • amazing home appliances courtesy of Scanfrost and other mouthwatering prizes.

Explore Economic and Financial Data on the Nairametrics Research Website

 

This is how the viewers voted:

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Business

Speaker Gbajabiamila asks NLC to suspend strike, offers palliatives

Nigeria’s lower federal legislative chamber has appealed to Labour to suspend its planned strike action.

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Speaker Gbajabiamila asks NLC to suspend strike, offers palliatives

The House of Representatives has asked the Nigeria Labour Congress (NLC) to suspend the strike planned to commence on Monday, as it offered the organised labour some palliatives.

This was disclosed by the Speaker of the House of Representatives, Femi Gbajabiamila, at a negotiation meeting with labour on Sunday in Abuja, according to NAN.

The palliatives, according to the Speaker, would be included in the proposed 2021 budget, which he said would soon be presented to the National Assembly.

READ: DisCos ask FG to reduce cost of gas in power generation

The speaker explained that some palliatives were being considered to cushion the effects of increase in electricity tariff and fuel price hike.

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Some of the palliatives are the distribution of food items, reduction of taxes on minimum wage and payment of some special allowances.

Others are involvement in ownership of housing programmes through mortgage and distribution of special buses to public institutions, which run on autogas.

READ: Only customers with minimum of 12 hours electricity can have tariff increase – FG

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Back story: Nairametrics had reported when labour insisted on going ahead with its earlier planned strike and protest, with effect from September 28, 2020, following the failure of the Federal Government to reverse the increases in electricity tariff and fuel price.

The disclosure was made by the NLC President, Ayuba Wabba, after the National Executive Council meeting of the labour organization in Abuja.

Gbajabiamila said that the palliatives would go a long way to assuage the suffering of Nigerians.

READ: NNPC gives condition for relocation of tank farms and depots from residential areas 

According to him, the lawmakers would also make provision in the budget to tackle the eight million deficit of meters to enable Nigerians to access them.

He said, “I have never heard it anywhere in the world, so if we may have to provide for the deficit, we will have to do that.”

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He appealed to labour to suspend the planned strike, saying embarking on industrial action at this critical time would not augur well for the citizenry.

READ: Tariff hike: Unmetered customers will be exploited by DisCos, FCCPC alleges

You know, you cannot go on strike at this time, if you go on strike, the people you think you are protecting will be at the receiving end, we share your philosophy regarding workers’ rights. We know what Nigerians are going through, our position on electricity billing is obvious, the only thing now is to continue to talk, I am concerned about the people out there. Shutting down the markets, banks and other places of work is my worry, I am concerned about the people,” he said.

Gbajabiamila said that there was the need for every Nigerian to be properly metered in order to capture the true cost, adding that the lawmakers would consider metering in the 2021 budget.

Explore Economic and Financial Data on the Nairametrics Research Website

NLC’s response

Wabba, insisted that the organised labour would go ahead with the strike if its demands were not met by the Federal Government before the expiration of the ultimatum.

He said that the increase in electricity tariff and hike in fuel price had eroded the purchasing power of Nigerian workers.

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According to him, the initial plan was that there would not be increase in electricity tariff until meters were provided for Nigerians.

Wabba commended the speaker for the intervention, adding that he had consistently represented the interest of Nigerians.

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The NLC president said there was a valid court judgment nullifying the electricity tariff, adding that the judgment of the National Industrial Court asking NLC to stop its planned strike could not be sustained.

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