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VP Shettima Extols UBA’s Dedication To Innovation, Emerging Markets At 75

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VP Shettima Extols UBA’s Dedication To Innovation, Emerging Markets At 75

** Says bank has shaped narrative of what African institutions can become

By: Our Reporter

The Vice President, Senator Kashim Shettima, has extolled what he termed the staying power of the United Bank of Africa (UBA Group) in the past 75 years, describing the financial institution as a pacesetter in innovation, emerging markets and generational ambition.

“Seventy-five years is not something you pick up at a supermarket. It is earned. It’s through risks and calculations, through storms and sunshine, through mergers and acquisitions, and through the brainpower and courage of those who believe in its promise of a new world. That is what leadership means,” he declared.

Senator Shettima, who spoke on Friday evening during the UBA 75th Anniversary Dinner at Transcorp Hilton Hotel in Abuja, noted that the celebration of an institution like UBA “that has outlived generations and still pulses with the vibrancy of youth” is not something that happens everyday.

He said, “The United Bank for Africa, or simply UBA, is not what it is because of the age of its ideas. It is what it is because of the attention it pays—attention to innovation, attention to emerging markets, attention to shifting dreams, and attention to the changing contours of generational ambition.

“UBA has remained a pacesetter because it is led by people who do not just manage capital, but manage curiosity”.

Applauding UBA for outliving all its contemporaries, VP Shettima attributed its staying power to its passion for relevance, even as he described the bank as a quintessential specimen of what an African institution could become by institutionalizing excellence.

His words: “UBA’s staying power is owed to its pursuit of relevance. It has stood as a reward for new thinking, expanding not just across geography, but across ideas.

“It serves millions, it shapes economies, and it influences the narrative of what an African institution can become when excellence is institutionalised and when well-intentioned dream-makers are in charge.”

The Vice President did not celebrate UBA without acknowledging the leadership ability of the bank’s Chairman, Mr Tony Elumelu, whom he described as one of the finest sons of the African continent, just as he observed that no institution writes its history without the signature of those who believe in it.

According to him, Elumelu has “become a bridge between the old and the new, between the outdated and the emerging,” adding that he “has won the trust of even the Gen Zs, or whatever this brilliant, digital generation calls itself.”

The Gen Zs, VP Shettima noted, have absolute trust in Elumelu “not because of the era he was born in, but because of the attention he pays to theirs,” observing further that he is being heard across generations because he listens across generations.

He continued: “Tony Elumelu is not a dreamer. Dreamers are those who are stuck in the bubble. Mr Elumelu is a dream-maker. He has made true the imagination of those who wish for an empire from the comfort of their homes. He has taught us that it is possible to build without breaking, to lead without losing touch, and to dream without borders.

“One thing that has amused me about Mr Elumelu over the years is that he has cracked a code many still struggle to decipher—the delicate art of balancing the boardroom with the living room, of being a captain of industry and still a commander at home.

“Not many men have managed a balance between building empires and building families, between saving the world and being present at Christmas in their village. But this man, this maverick, this dream-maker, has shown us that you can help move the continent forward without losing touch with home and family.”

The VP also lauded Elumelu’s wife, Dr Awele Elumelu, saying she is not just a spouse, “but an Amazon—a matriarch who gathers the kith and kin under her warm canopy,” as well as the quiet strength behind the force that is her husband.

Earlier, Group Chairman of UBA, Tony Elumelu expressed profound gratitude to the Vice President while acknowledging the bank’s foundational history.

“This is a night of celebration, gratitude to God and to customers and shareholders who have made it possible,” Elumelu stated.

The Chairman emphasised the importance of honouring those who established UBA’s foundation, saying, “We all today are under the shields because someone planted the tree. The foundation of UBA was laid by people before us, we are only taking it further.”

Looking toward the future, Elumelu expressed confidence in the bank’s continued success, tying it directly to Nigeria’s economic environment.

“On the vision of the next 75 years, just keep transforming our domestic economy as President Bola Ahmed Tinubu is doing, and UBA will keep roaring,” he affirmed.

In his welcome address, UBA’s Group Managing Director, Dr. Oliver Alawuba, expressed gratitude to attendees while highlighting the bank’s remarkable journey since its inception.

“75 years ago, UBA commenced operations at Kakawa Street in Lagos as British & French Bank (BFB),” he said.

The GMD emphasised UBA’s impressive expansion over the decades, noting the bank now operates in 24 countries with 1,000 business offices, over 25,000 staff members, and a customer base exceeding 45 million people.

Dr. Alawuba shared financial metrics demonstrating the bank’s robust performance, including a profit after tax of N766.6 billion and total assets reaching N30.4 trillion.

He said shareholders have been rewarded with a dividend of ₦5 per share, representing a dividend yield of 14.5% – the highest among industry peers.

He also pointed out that the group’s shareholders’ funds rose significantly to N3.419 trillion in 2024 from N2.030 trillion in December 2023.

“The 2024 financial performance demonstrated the bank’s continued focus on driving earnings growth, preserving asset quality, expanding business operations and deepening market share,” Alawuba said.

Looking to the future, the GMD outlined an ambitious vision for UBA to establish a presence in every African country and expand to over 100 countries worldwide within the next 75 years.

VP Shettima Extols UBA’s Dedication To Innovation, Emerging Markets At 75

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ECOWAS Calls for Investment in Plastic Eco-innovation to Ward of Threat of Pollution

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ECOWAS Calls for Investment in Plastic Eco-innovation to Ward of Threat of Pollution

…Reaffirms commitment to clean environment

By: Michael Mike

The Economic Community of West African States (ECOWAS) has called upon all stakeholders in the region to Invest in eco-innovation and plastic alternatives as part of the efforts to address plastic pollution in the region.

The West African sub-region is said to generate nearly eight (8) million metric tonnes (MT) of plastic waste every year, a figure that is set to rise by 52% in the next five years.

More than 80 per cent of plastic waste is reported to be poorly managed in West Africa, adversely affecting human health, ecosystems and blue-economy sectors such as fishing and tourism.

ECOWAS made the call in Abuja on Tuesday at an occasion commemorating the World Environment Day, with the theme: “Together, We Can Beat Plastic Pollution”.

The Commission expressed worries that plastic pollution has become a transboundary problem that requires a coordinated regional response.

The Commissioner, Economic Affairs & Agriculture, Massandje Toure-Litse, speaking on the need to tackle plastic pollution,, said, is a test of the region’s resolve to act together, as governments, private sector actors, civil society, and citizens.

Toure-Litse, who was represented by the Acting Director, Environment and Natural Resources, Mr. Yao Bernard Koffi, therefore reaffirmed the commission’s commitment to a clean environment.

The ECOWAS commissioner said: “There is growing recognition that plastic pollution is a transboundary problem that requires a coordinated regional response.

“Tackling plastic pollution is a test of our resolve to act together — as governments, private sector actors, civil society, and citizens.

“ It is fitting that in this landmark year, we reaffirm our commitment to a clean, resilient, and sustainable environment for future generations.

“The theme for this year, “Together, We Can Beat Plastic Pollution”, resonates deeply with our regional priorities. Plastic pollution is not only a global menace but a regional and national crisis.

“There is growing recognition that plastic pollution is a transboundary problem that requires a coordinated regional response. ECOWAS has therefore committed to addressing persistent challenges by adopting Regulation C/REG.17/12/23 on plastics management in 2023, requiring member states to harmonize regulations on plastic products and adopt best practices in plastic waste management.

“Let us be reminded that this challenge is not insurmountable.”

The Commissioner also noted that it is not all gloomy as Ghana and Nigeria are witnessing innovative approaches, scaling up circular economy initiatives.

She also revealed that Senegal and Côte d’Ivoire have introduced plastic bag bans and extended producer responsibility frameworks, while noting that the ECOWAS Commission is supporting Member States to harmonize environmental standards and promote green industrialization.

The Commissioner added that: “But we must do more collectively and urgently. The ECOWAS Vision 2050 identifies environmental sustainability as a pillar of inclusive development. Tackling plastic pollution is a test of our resolve to act together — as governments, private sector actors, civil society, and citizens.

“To this end, a draft regional plastics management plan has been developed with support from the World Bank.

“We call upon all stakeholders in the region to: Invest in eco-innovation and plastic alternatives; Support community-led waste management solutions; Strengthen enforcement of environmental regulations; and Foster youth-driven climate action, because the future belongs to them.”
She further added: “As we celebrate World Environment Day in this Jubilee Year, may our legacy be one of action over words, solutions over excuses, and unity over indifference. The ECOWAS Commission stands ready to work side-by-side with Nigeria and all partners to beat plastic pollution not tomorrow, but today.
“Let us rise to this moment. Let us protect our environment.”

On his part, Nigeria’s Minister of Environment, Balarabe Abbas Lawal, said “Plastic pollution is not just an environmental issue but also an economic and public health crisis.”

He decried that every minute, plastic waste is being dumped into our oceans, rivers, and drainage systems, endangering wildlife and contributing to flooding in our urban centres.

He decried that: “Like many other nations, Nigeria faces significant challenges in managing plastic waste.”

He said the country suffers from burden of unchecked plastic pollution.

Lawal said: “Our cities and rural communities suffer from the burden of unchecked plastic pollution ranging from sachet water bags littering our streets to microplastics entering our food chain and causing public health concerns.”

He therefore assured ECOWAS of the Federal Government of Nigeria’s commitment to a cleaner, greener, and more resilient environment.

“I would like to assure you that the Federal Government of Nigeria, under the leadership of President Bola Ahmed Tinubu, GCFR, is committed to a cleaner, greener, and more resilient environment. In line with the Renewed Hope Agenda, we are taking decisive steps to address plastic pollution at all levels,” he said.

The Minister also listed efforts made by the Nigeria government to tame plastic pollution to include: developing and implementing a National Policy on Plastic Waste Management, which provides a strategic framework for reducing plastic use, promoting recycling, and encouraging innovation in alternatives to single-use plastics.

He also noted that the ministry is supporting innovative circular economy models to drive recycling and promote plastic alternatives, especially across government ministries, departments, and agencies.

He added that the ministry launched the Extended Producer Responsibility (EPR) Programme, which mandates producers to take responsibility for the entire lifecycle of their plastic products—from production to disposal.

He said that “The Ministry is collaborating with key stakeholders across government, industry, and civil society to ensure that environmental policies translate into meaningful impact.”

ECOWAS Calls for Investment in Plastic Eco-innovation to Ward of Threat of Pollution

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Benue Killings: President Tinubu Asked to be Audacious in Seeking Solution

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Benue Killings: President Tinubu Asked to be Audacious in Seeking Solution

By: Michael Mike

President Bola Tinubu has been asked to be audacious in the battle to end insecurity and incessant attacks and killings in parts of the country.

Reacting to recent Benue killings which left scores dead, an hostile environment journalist and Chairman, Northern Christian Youth Professionals, Isaac Abrak in a letter to President Bola Tinubu, copy of which was made available journalists, said: “But we cannot afford to fold our arms in despair. We must act differently. We must try something new, even if it has never been attempted anywhere in the world. For the sake of our people—our children, our farmers, our security personnel—we must do something bold to stop this carnage.”

Abrak, while stating that “many of those who will oppose this letter are not the ones burying loved ones or watching their communities burn. They analyze from afar, removed from the pain. But real solutions come from those who feel the loss, from the hearts of those closest to the suffering. The Forest Guard must be led not by theories, data sheets, or “Harvard-trained analysts” alone—but by those who bleed when our villages bleed,” said: “I write this letter with a heavy heart. As someone who has spent most of my life reporting from hostile zones across our region, it has become painfully clear that the cycle of killings in our beloved country—particularly in the Middle Belt, as seen again in Benue—is unrelenting.

“Despite the gallant efforts of our military, police, and other security agencies, the attacks persist. Each time our forces strike a blow against the perpetrators, they appear to retreat briefly—only to re-emerge with even greater violence, targeting our most vulnerable: poor, innocent rural dwellers.”

Abrak said: “Mr. President, you understand this urgency. That is why you honored your campaign promise by approving the establishment of the Armed Forest Guard —a groundbreaking initiative that has all the potentials to be the game-changer we desperately need.

“We believe that this Forest Guard has the potential to work—100 percent. Why? Because history in Nigeria has already shown us the way.

“When you introduced LASMA and LAWMA in Lagos, you transformed the so-called “Area Boys”—once a nuisance on our streets—into contributors to order and cleanliness. When CJTF was established in Borno, the same young men once targeted by Boko Haram were mobilized to protect their communities, and they became a vital force in pushing the terrorists back.”

He said: “Mr. President, after 16 years of reporting from conflict zones, I can say with conviction that those responsible for these killings are not strangers—they are often part of the very communities we are trying to protect. Whether they are Fulani, Tiv, or from any other ethnic group, they are either complicit or, at the very least, enabling the violence.

“That is why the Forest Guard must be community-driven. Carefully selected young men and women—hunters, ex-servicemen, with deep roots and love for their communities—should be recruited to defend their forests. If implemented with sincerity, this initiative will succeed just like LASMA, LAWMA, and CJTF did.

“Of course, there will be critics—there always are. Many will see only the challenges and not the possibilities. But you have shown time and again that real leadership is about confronting problems, not running from them. I was in Lagos and witnessed firsthand how you stood firm in the face of criticism to birth innovations that have since transformed lives.”

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At 4th ASIF Meeting, President Tinubu Demands Collective Action To Develop Africa

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At 4th ASIF Meeting, President Tinubu Demands Collective Action To Develop Africa

** Urges relevant institutions to utilise continent’s sovereign wealth funds with sound financial discipline

By: Our Reporter

President Bola Ahmed Tinubu has called for collective action and regional cooperation among African countries in actualising transformative development on the continent.

Specifically, he said shrewd utilisation of sovereign wealth funds is crucial in ongoing efforts to close the infrastructure gap, build climate change resilience and create job opportunities for the growing youth population on the continent.

The President gave the charge on Monday in Abuja when he declared open the 4th Annual Meeting of the Africa Sovereign Investors Forum (ASIF), hosted by the Nigeria Sovereign Investment Authority (NSIA).

President Tinubu who was represented by his deputy, Vice President Kashim Shettima, noted that the forum’s meeting with the theme, “Leveraging African Sovereign Wealth Funds to Mobilise Global Capital for Transformative Development in Africa,” was holding at a time the world is witnessing rapid transformation and is under pressure to think outside the box.

For Africa, the Nigerian leader said it is time to position the continent to seize the opportunities rooted in the wave of global change, just as he asked African nations to take a cue from evolving sovereign wealth funds across the world, which have moved beyond serving as mere fiscal buffers to become architects of national transformation.

“Our future lies not in working in silos but in pursuing regional cooperation and collective ambition. Our sovereign wealth funds must become the anchors for pan-African investment platforms that de-risk projects, standardise processes, and deliver sustainable outcomes at scale. This is not just a strategy. This is a necessity,” he declared.

Acknowledging that Africa is currently facing a development dilemma, as it contends with limited fiscal space amid growing expectations and demands for long-term capital to fuel inclusive and sustainable growth, President Tinubu, however, identified creativity as a solution to the puzzle.

He said, “There can be no greater inspiration to reimagine how we invest, whether in setting up critical infrastructure, strengthening our climate resilience, promoting food security through agricultural innovation, supporting micro, small and medium enterprises, or embracing the digital economy to create jobs and expand opportunity.

“None of these is possible without catalytic institutions that combine strategic foresight with sound financial discipline. This is why the Nigeria Sovereign Investment Authority stands not only as a steward of our sovereign capital but as a vehicle for the delivery of strategic infrastructure.

“It is a catalyst in our national quest to redeem renewable energy, healthcare, agriculture, and much more. It is also a hub for pioneering innovative capital mobilisation solutions tailored to the realities of our continent.”

The President noted that ASIF has the pan-African apparatus to harness the collective strength of the continent’s sovereign investment institutions, just as he maintained that the time to act was now.

“We must act and act now to close the infrastructure gap, build resilience to climate change, and create jobs for our expanding youth population. This is precisely why platforms like the Africa Sovereign Investors Forum are not just relevant but essential.

“ASIF offers a pan-African mechanism to harness the collective strength of our sovereign investment institutions. It gives us the power to share knowledge, co-invest across borders, and speak with a unified voice in the global financial ecosystem. Through this kind of collaboration, we will attract the scale of capital required to unlock Africa’s latent potential,” he stated.

President Tinubu applauded the formal launch of the ASIF Investment Platform, saying it is a strategic initiative that deepens collaboration among Africa’s sovereign wealth funds.

The platform, according to him, is not just an innovative tool but also a bold move that pools the continent’s capital, expertise, and networks to mobilise financing for high-impact, cross-border projects, as well as “a step forward in advancing inclusive and sustainable development across the continent.”

He expressed delight that the Nigeria Sovereign Investment Authority (NSIA, as a founding member of ASIF) has taken an active role in advancing the vision, even as he commended its leadership for “mobilising like-minded African funds and international partners to design long-term, impactful investment solutions”.

Earlier, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, listed priorities for stakeholders at the forum to include capital mobilisation at scale, regional and intercontinental collaboration, human capital and policy alignment, noting that they are critical for transformative development across the continent.

He expressed hope that the ASIF meeting would birth significant transactions that can mobilise the required resources, drive economic transformation across Africa, forge impactful partnerships and build a sustainable future.

In his remarks, President of AfreximBank, Prof. Benedict Oramah, emphasised the need for stakeholders to keep African sovereign wealth funds on the continent by investing in domestic markets.

He noted that the forum can help reshape Africa’s development financing in a manner that gives the continent greater opportunity to determine its development trajectory.

The AfreximBank boss dismissed insinuations that Africa does not have bankable projects, noting that the potential across the region is huge and the challenge lies with stakeholders, especially managers of sovereign wealth funds in the continent, to rethink strategies for investment, prioritising domestic investments.

On his part, Chairman of African Sovereign Investors Forum (ASIF), Mr Obaid Amrane, said while Africa is open for business, the forum is committed to facilitating the participation of sovereign investors in Africa’s transformation.

He said in just three years, ASIF has made significant strides in enhancing Africa’s global positioning, closing the infrastructure funding gaps across the continent and promoting greater collaboration among governments and sovereign investors in transformative projects that impact lives across the length and breadth of the region.

In his remarks, the Managing Director, Nigeria Sovereign Investment Authority, Mr Aminu Umar-Sadiq, explained the focus of the meeting, noting that private capital plays a critical role in driving investments in infrastructure development on the continent.

He outlined the priority areas of the meeting and noted that the forum will catalyse investments across Africa and beyond, impacting lives through projects across diverse fields.

For his part, Pan-African activist, Prof. PLO Lumumba, called on leaders across Africa to leverage huge resources domiciled on the continent to invest in the future of unborn generations by investing more within the continent, noting that sovereign funds should be invested within and not outside Africa.

He said it is an intergenerational duty for political and economic leaders on the continent to cater for generations yet unborn, adding that Africa’s resources are inexhaustible, hence leaders must invest in the future of generations to come.

Also present at the event were Minister of Industry, Trade and Investment, Dr Jumoke Oduwole; President/CEO of Africa Finance Corporation, Mr Samaila Zubairu; CEO & Special Representative of the UN Secretary General for Sustainable Energy for All and Co-Chair, UN-Energy, Ms Damilola Ogunbiyi; Chairman of Federal Inland Revenue Service, Mr Zacch Adedeji; CEO of Africa50, Mr Alain Ebonisse, and Director General, International Solar Alliance, Mr Ashish Khanna, among others.

At 4th ASIF Meeting, President Tinubu Demands Collective Action To Develop Africa

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