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Tag: UBA

  • UBA promotes financial literacy

    United Bank for Africa (UBA) Plc joined other financial institutions and the Central Bank of Nigeria (CBN) to celebrate the global money week. The UBA, had last week, held a financial literacy day for about 500 pupils at Imaguero College in Benin City, Edo State capital.

    Group Managing Director and CEO of UBA Plc, Phillips Oduoza, personally tutored the students on money management skills.

    The event, which was hosted at Imaguero College, Benin City, had in attendance pupils from over 20 various secondary schools in Benin City. The governor and representatives from the ministry of education in Edo State were also in attendance.  The event was in its third edition with UBA  joining the global community and the CBN to celebrate the Global Money Week.

    The Global Money Week is a worldwide celebration aimed at creating the next generation of confident, responsible and skilled people with an understanding of the financial system and how it can be tapped into to enhance their welfare.

    It brings together children, youth, parents, organisations and communities to start action to reshape finance and give young people the tools to shape their own future.

    The Financial Literacy Day, which held on March 17 involved the Nigerian financial community with the support of the CBN going into primary and secondary schools across the nation to teach the basics of Financial Literacy.

    UBA, over the years, have been at the forefront of engagement with the youths through empowerment programmes aimed at developing their intellectual capacity and making them better people in the society.

  • UBA grosses N315b, pays N22b dividend

    UBA grosses N315b, pays N22b dividend

    United Bank for Africa (UBA) Plc recorded considerable growths in the top-line and bottom-line in 2015, bucking a downtrend that had seen many banks warning of declining earnings.

    Key extracts of the audited report and accounts of UBA for the year ended December 31, 2015 released yesterday at the Nigerian Stock Exchange (NSE) showed that gross earnings rose by 10 per cent while profit after tax grew by 25 per cent.

    On the back of the improved earnings, the board of the bank has recommended a final dividend of 40 kobo per share, bringing the total dividend payout per share to 60 kobo or N21.77 billion. The bank had earlier paid interim dividend of 20 kobo per share.

    UBA Group’s gross earnings closed 2015 at N314.83 billion as against N286.62 billion recorded in 2014. Profit before tax rose from N56.20 billion to N68.45 billion. Profit after tax also increased from N47.91 billion to N59.65 billion. Earnings per share thus improved from N1.53 in 2014 to N1.79 in 2015.

    Group Managing Director, United Bank for Africa (UBA) Plc, Mr. Phillips Oduoza, described the 2015 performance as a new high that reflects the commitment of the bank to creating values for stakeholders.

    He said the bank’s resilient business model, geographic diversification, proactive strategies, and strong governance created an edge for it through the year.

    “Our 2015 profit is a new high, reflecting the hard work and discipline of our board, management and staff in creating value for all stakeholders. We remain committed to growing in a responsible manner that aligns with our vision of building an enduring institution,” Oduoza said.

    He added that the bank would continue to invest in its future whilst managing cost tightly to generate strong returns for shareholders.

    UBA’s Group Chief Finance Officer,  Mr. Ugo Nwaghodoh, said the group leveraged efficiency gains in its business development and operations to grow earnings.

    “We improved on our balance sheet management and pricing, thus ensuring a strong 19 per cent growth in interest income as well as an enhanced net interest margin of 6.3 per cent. Our improved service delivery and customised offerings helped in growing transaction banking volume, with attendant fee income,” Nwaghodoh said.

    He added that while the group was exposed to some external cost pressure, it managed to keep its cost growth at five per cent below the average inflation rate of nine per cent in Nigeria; the group’s core market which represents three-quarter of its operations.

     

  • Afrinvest picks Conoil, Oando, UBA, GTB, 10 others as top stocks for 2016

    Investors looking for above average gains and a reflective stock portfolio to beat the downtrend in 2016 should concentrate on 14 stocks across five key sectors of the economy, according to the 2016 stock recommendation by Afrinvest Securities.

    The 2016 stock recommendation was based on the research and market intelligence prepared by analysts at Afrinvest Securities, a Lagos-based dealer on the Nigerian Stock Exchange (NSE) and member of Afrinvest (West Africa).

    The report portfolio was built around the key sectors such as banking, consumer and industrial goods, insurance, and oil and gas sectors.

    Afrinvest Securities picked 14 stocks across the five sectors with different rating of buy and accumulate, citing potential earnings and resilience to weather the tough operating environment.

    The stocks included Guaranty Trust Bank (GTB); United Bank for Africa (UBA); Zenith Bank International; Nestle Nigeria; Nigerian Breweries; Flour Mills of Nigeria; Dangote Sugar Refinery; Dangote Cement; AIICO Insurance; Continental Reinsurance; AXA Mansard Insurance; Oando, Conoil and Total Nigeria Plc.

    “One key theme that has come up in our analysis and valuation of companies is the tougher operating environment which is consequent on the weak macroeconomic backdrop. Slowing Gross Domestic Products (GDP) growth has been a major headwind on sales of manufacturing companies and risk assets creation by banks. Elevated inflationary pressures and foreign exchange shortages have driven-up costs whilst uncertain direction of fiscal and monetary policy have together worsened the risk landscape and impaired market valuation of assets,” Afrinvest Securities stated.

    According to the report, GDP growth may rebound to 3.5 per cent in 2016 from estimated 3.0 per cent in 2015, largely due to expectation on fiscal stimulus. Inflationary pressure is however predicted to hit double digit while foreign exchange supply constraint would also remain a challenge in 2016 given the negative sentiments deterring autonomous foreign exchange inflow and bearish outlook for oil prices.

    The report noted that these mutually reinforcing factors would combine to pressure revenue, earnings and margins across sectors and remain a drag on market sentiments. The report assumed equity risk premium and inflation assumptions to be 11.4 per cent and 10.1 per cent respectively.

    Afrinvest Securities said while it rated most of the banking stocks, its top picks in the sector were GTB, UBA and Zenith Bank, due to their “rich return on equity, lower cost profile and relatively healthier balance sheet, are positive driver of earnings and sentiment”.

    “We believe Tier-1 banks will continue to deliver superior earnings performance relative to Tier-2 and are better equipped to weather the storm in light of the current challenges, we maintain that investors underweight on Tier-2 banks in favour of Tier-1 banks.

    “We believe most of the banking tickers have already been heavily discounted for projected weaker forward earnings to a point that positive earnings surprises in 2016 will have massive positive knock-on impacts on pricing. Our Tier-2 coverage has higher upsides but we advocate selective and cautious positioning with a keen eye on sentiment drivers,” Afrinvest stated.

    The report noted that while the overall outlook for the consumer goods sector appears negative, there are still opportunities in specific stocks in the sector, adding that sector pricing over a long term horizon presents a fantastic opportunity for discerning investors.

    The report added that the top picks in the consumer goods sector-Nestle Nigeria, Nigerian Breweries, Flour Mills of Nigeria and Dangote Sugar Refinery were selected based on their continuous investment in capacity and expansion, leadership of their respective segments and investor sentiments towards these stocks.

    “In addition, the stocks are so selected given their relative defensiveness as blue chip stocks relative to other stocks within the sector,” Afrinvest said in relation to its top picks in the consumer goods sector.

    The report said Dangote Cement stands out in the industrial goods sector because of its continental operations and dominance of the domestic market.

    According to analysts, as the struggle for market share continues in the cement industry and margins contract, companies with strong volumes growth potential and cost leaders with capacity to grow earnings per share are in better position to deliver better returns.

    “Industry price and cost leader, Dangote Cement is best positioned for this with over 60 per cent of Nigeria’s market share and increased exposure to other regions in Africa with strong earnings potential,” Afrinvest stated.

    Analysts said Dangote Cement’s share price could rise to N183.92 per share over the next 12 months.

    The report expected gross premium growth in the insurance sector to remain positive in 2016, noting that while macroeconomic challenges remain a critical concern, demographic attractiveness and low insurance penetration rate in Nigeria accentuates the compelling growth potential of the sector.

    The report added that tighter regulatory activities which has brought about the implementation of “No Premium No Cover” rule, the launching of the micro insurance scheme and the Takaful insurance as well as the recent claims payment guidelines are expected to strengthen recent gains observed in the sector.

     

    Against the negative sentiments that had trailed Oando since the release of its 2014 results, analysts said the stock appeared to have bottomed out and now presents attractive buy opportunity for investors.

    It noted that “against the colossal sell-off in Oando following the release of its 2014 results, the stock has bottomed out and fundamental analysis gives a ‘buy’ rating”.

    Afrinvest Securities also placed buy on Conoil while urging investors to accumulate shares of Total Nigeria.

    “Since the fall in global oil prices, investor sentiments towards oil and gas stocks have been largely dampened due to the blue outlook. Following this, downstream Nigerian oil companies suffered immediate massive sell-offs. However, our analysis of the companies within our coverage in the downstream sector indicates that bottom line declines have been against foreign exchange illiquidity and subsidy delays. Going forward, with technical removal of subsidy through the price modulation template and diversification strategies of some, we expect an improvement in company returns,” Afrinvest stated.

  • UBA appoints Uzoka new Group MD

    The United Bank for Africa (UBA) Group Board yesterday approved the appointment of Kennedy Uzoka as the Group Managing Director, with effect from August 1.

    The appointment, the company said, is subject to the approval of the Central Bank of Nigeria (CBN).  Uzoka succeeds Phillips Oduoza, who retires on July 31 after two terms of leading the UBA Group.

    Uzoka has most recently been leading the transformation agenda of the bank, after returning from completing the Advanced Management Programme of Harvard Business School.

    He has over two and half decades of experience in commercial banking, strategy and business transformation. Prior to his sabbatical at Harvard, he served as Deputy Managing Director, UBA group and was also the CEO of UBA Africa, responsible for the Group’s operations in 18 countries across Africa.

    He is a graduate of Mechanical Engineering from University of Benin and holds a Masters Degree in Business Administration from University of Lagos.

    Also appointed yesterday, was Victor Osadolor as the Deputy Managing Director, UBA Group.  Mr Osadolor brings a strong finance and risk background, having previously served as the Executive Director, Risk and Finance at UBA. Mr Osadolor also held the position of Chief Strategy Officer at Ecobank Transnational Incorporation. He holds a Bachelor of Science degree in Accounting and is a Fellow of the Chartered Institute of Accountants of Nigeria. He also holds the Advanced Management Programme Certificate from the Harvard Business School.

    The Chairman of UBA Group Mr. Tony Elumelu said of both appointments: “Kennedy brings an extremely strong skill set and is ideally positioned to lead UBA in its next phase of growth. His most recent experience of managing the Group’s increasingly important African business, is particularly relevant, as we all work to build one of the leading financial services franchises in Africa.   I have no doubt that both he and Victor with their expertise and depth of business experience will ensure that the Bank is best positioned to deliver on its strategic ambition.

    I would also like to take the opportunity to thank Phillips, for all that he has done for the bank in guiding UBA through a particularly challenging period. The Board feels that the strong foundations created during Oduoza’s term provide an excellent basis for our further success.”

  • Supreme Court: we didn’t sack Andy Uba, Oduah, others

    Supreme Court: we didn’t sack Andy Uba, Oduah, others

    THE Supreme Court yesterday explained its January 29 judgment in relation to the leadership dispute in the Anambra chapter of the Peoples Democratic Party (PDP).

    The court said the judgment did not resolve the question relating to the legitimacy or otherwise of the list of candidates submitted for the National Assembly election by the factions of the Peoples Democratic Party (PDP) in Anambra State, because the issue was not before it.

    By implication, the Supreme Court ruled that Senators Stella Oduah and Andy Uba, and other PDP lawmakers in Anambra State are to retain their seats.

    It said although it upheld the judgment of the Federal High Court, Port Harcourt, to the effect that the Ejike Oguebego-led Executive Committee of the Anambra PDP was the authentic body to run the party’s affairs, it did not say the Oguebego Exco could assume the responsibilities of the party’s National Executive Committee (NEC).

    Justice John Okoro, who read the lead ruling of a five-man bench, said the Supreme Court neither ordered the Independent National Electoral Commission (INEC) to accept the list of candidates for the National Assembly from the Oguebego-led Exco nor did it direct INEC to conduct fresh elections into the National Assembly in the state.

    The court’s position was contained in its ruling yesterday on a motion by INEC, asking the court to clarify its position in the judgment it gave on January 29.

    INEC, in its motion filed on February 8, asked the court whether, by virtue of the judgment, it should issue certificate of return to the names contained in the list submitted by the Oguebego-led Exco or conduct fresh elections.

    The court dismissed the motion filed and argued by Adegboyega Awomoolo (SAN) for INEC and upheld the objection by lawyer to the Oguebego-led Exco, Chris Uche (SAN), on the grounds that it lacked the jurisdiction to engage in the clarification of a judgment that was straightforward and written in simple language.

    The court, on January 29, delivered its judgment in the appeal between Ejike Oguebego and Another versus Peoples Democratic Party (PDP) and two others.

     “It is untrue that parties do not understand the import of our judgment. Where in the judgment did we state that the Oguebego-led committee should take over the functions of the National Executive Committee (NEC) of the PDP so that it can submit list to INEC? I think counsel are not fair to this court when they say they do not understand the judgment of this court, which was written in simple English language.

    “May I admonish counsel, both senior and junior, that in the course of their job, they have a duty to this court. As much as they owe a duty to their clients, they also owe a duty to the public not to mislead them. On the whole, I hold the view that this court lacked the jurisdiction to hear this motion that was filed on the February 8, 2016. It is hereby struck out,” Justice Okoro said in his lead ruling.

    Other members of the panel, including Justices Sylvester Ngwuta, Mary Peter-Odili, Datijo Muhammad, and Kumai Akaa’hs agreed with Justice Okoro’s reasoning.

  • Uba, Oduah, others were not sacked by Supreme Court, says lawyer

    Uba, Oduah, others were not sacked by Supreme Court, says lawyer

    National Assembly members representing two senatorial districts and seven federal constituencies in Anambra State were not sacked by the Supreme Court, their lawyers said yesterday.

    According to Vincent Otaokpukpu, led by Chief Arthur Obi Okafor (SAN) (counsel for the third respondent in the appeal), the judgment had nothing to do with the lawmakers’ status.

    The lawyers said their clients emerged from primaries conducted by the Peoples Democratic Party (PDP) National Executive Committee.

    According to them, the lawmakers’ names were submitted to the Independent National Electoral Commission (INEC) by the party.

    They said the Supreme Court was asked to determine five issues: whether the Court of Appeal was right to hold that the lower court should not have assumed jurisdiction over the case relating to the protection of the sanctity of judicial process of which the first respondent was in contempt; and relating to INEC’s administrative decision.

    Other issues are whether the Court of Appeal was right to have held that the appellants’ case was an abuse of court process on the bases of another case that the appellants were not party to; and whether the Court of Appeal was competent to determine the issue of whether the appellants’ case was an abuse of court process on the basis of a point raised by the court suo moto (without prompting) in respect of which the parties were not called upon to address the court, among others.

    According to the lawyers, the Supreme Court held that the Federal High Court order recognising the Ejike Oguebego-led PDP executive was still subsisting until it is set aside by an order of court.

    A five-man panel, led by Justice Sylvester Ngwuta, unanimously affirmed a verdict delivered by Justice Evoh Chukwu of the Federal High Court in Abuja, on December 15, 2014, which affirmed the Ejike Oguebego-led executive committee, with the primaries conducted by it, and its list of candidates that emerged from the exercise.

    The lawyers said it was clear that the Supreme Court did not order the withdrawal of the certificate of return issued to their client, nor did it hold that Oguebego’s faction had the right to sponsor candidates.

    “The apex court did not order Senator Uba, Senator Oduah and seven other members of the House of Representatives representing Anambra State from the PDP to vacate their seats as rumored in the social media as same was not asked for by the appellant (Ejike Oguebego) in the Supreme Court nor at the Federal High Court, hence the court is not a Father Chrismas. As such, they were not parties at the Federal High Court and the Supreme Court.

    “The apex court did not equally authorise INEC, who was the 2nd respondent, to substitute our clients with the individuals, whose names were improperly allowed by INEC in obvious disregard of the plethora of judgments of the Supreme Court to the effect that it is only the National Executive Committee of the party that has the vires and capacity to sponsor candidates,” the lawyers said in a statement.

    The lawyers said the Supreme Court delivered a ruling in an appeal arising from the Court of Appeal judgment and Federal High Court.

    It said: “It is the National Executive of the PDP that has the responsibility to conduct the party’s National Assembly primaries. Any purported attempt to conduct such primary by the state chapter of the PDP cannot be validly characterised as competent…”

    The lawyers said the judgment gives a clear indication that PDP’s state Executive Committee appears not to know its limit and hence its persistence in usurping powers not due to it.

    Okafor and Otaokpukpu said the Supreme Court, with last week’s judgment, further re-affirmed its initial position decided in other cases.

    “Therefore, the Supreme Court could not have authorised same Oguebego state-led executive to conduct primaries and submit lists to INEC in the judgment in SC/37/2015 delivered on 29th January, 2016 thereby blowing hot; and blowing cold in SC/29/2015 being two sister appeals from the judgment of the Court of Appeal and the Federal High Court, Abuja Delivered on the 6th February, 2015 and 5th December, 2014, respectively.

    “If the Supreme Court intended to overrule its earlier position in the first judgment, that is, SC/ 29/2015, Odedo vs. Oguebego & Ors (Supra) in the latter judgment, that is, SC/37/2015 Oguebego V. PDP & Ors, they would have expressly, unequivocally done so without mincing words being a policy court as there was no invitation by appellants for the Supreme Court to overrule their decision in the sister appeal,” said the lawyers.

    They faulted reports that the lawmakers were sacked, which they said was not based on the judgment judgment.

    “We further wish to state categorically that the Supreme court did not sack Senator Uba, Senator Oduah and members of the House of Representatives.

    “Rather, the Supreme Court emphatically, clearly, unequivocally and vividly held in the concluding part of the judgment at page 52 that: ‘The judgment of the Court of Appeal is hereby set aside. The order of the Federal High Court in suit No FHC/PH/CS/213/2013) (now suit No FHC/AWK/CS/247/2013) recognising the Ejike Oguebego led Executive Committee of the PDP, Anambra State Chapter is still subsisting until set aside by an order of court.’”

    According to the lawyers, even if the PDP appointed a caretaker committee to oversee the Anambra State chapter after the Ken Emeakayi-led executive’s tenure ended on October 24, 2014, it does not confer the right to conduct primaries on it under the PDP Constitution.

  • Elumelu Foundation, UBA, US partner on entrepreneurship

    Elumelu Foundation, UBA, US partner on entrepreneurship

    The Tony Elumelu Foundation and United Bank for Africa Plc (UBA) have partnered with the United States Department of Commerce to host a Panel and Roundtable discussion between members of the U.S. Presidential Council on Doing Business in Africa (PCDBIA) and a diverse community of African entrepreneurs.

    The 11 person U.S. delegation, along with representatives of several US government trade and investment-focused agencies, was led by the Honourable Penny Pritzker – US Secretary of Commerce. The Council visited Lagos as part of a fact-finding mission to help inform their upcoming report to President Barack Obama on how to strengthen commercial engagement between the US and Africa, which will result in mutually-beneficial growth.

    The event was titled “Unleashing Africa’s Entrepreneurs: Strengthening the Entrepreneurial Ecosystem to Empower the Next Generation of Africa’s Business Leaders”.

    It brought together American business leaders and Nigerian entrepreneurs to discuss challenges, solutions and innovations in the current African business environment.

  • Court upholds Umeh’s, Uba’s elections

    Court upholds Umeh’s, Uba’s elections

    •Ekwunife faults judgment

    The Court of Appeal sitting in Enugu State has upheld the elections of Senator Andy Uba and former National Chairman of the All Progressives Grand Alliance (APGA) Chief Victor Umeh.

    Former Enugu State Governor Chimaroke Nnamani lost his appeal challenging Senator Gilbert Nnaji, who defeated him in the Enugu East Senatorial election.

    The court set aside the judgment of the lower tribunal, which last month ordered the Independent National Electoral Commission (INEC) to conduct a fresh election within 90 days. Nnamani challenged the declaration of Nnaji as the winner of the March 28 election, alleging irregularities.

    The court also struck out the result of the forensic exercise, which the lower tribunal relied on in nullifying Nnaji’s election because, according to it, the forensic expert restricted himself to three councils instead of six.

    The court also considered Dr. Ernest Ndukwe’s appeal and Uba’s cross appeal and concluded that Ndukwe failed to comply with Paragraph 4(1) (1) of the Electoral Act, 2010.

    Uba’s non-qualification, as pleaded by Ndukwe, was thrown out on the grounds that Ndukwe raised the point without proof and that Uba had the right to deny without proof.

    Nullifying Senator Uche Ekwunife’s election, the appellate court ordered INEC to conduct a fresh election in Anambra Central within 90 days.

    The three-man panel, led by Justice A.H. Yahya, upheld Umeh’s appeal challenging Ekwunife’s election, saying: “The perverse decision of the lower tribunal cannot stand. This appeal stands and INEC is ordered to conduct a fresh election in Anambra Central within 90 days.”

    Reacting to the judgment, Umeh thanked the court for dispensing justice without fear or favour.

    He described the judgment as a victory for democracy and rule of law.

    “We will go into the election prepared unlike in the past when our opponents had the police, Army, INEC and everybody. This time, we will subject ourselves to the will of the people. The era of impunity is gone. We now have a government of change and we will ensure that only people with integrity will conduct the election,” he said.

    There was a victory dance by some members of the All Progressives Grand Alliance (APGA) as the news filtered in.

    But Ekwunife described the judgment as a fatal principle of democracy.

    The judgment has thrown Anambra Central into confusion.

    However, Ekwunife is optimistic she would win the rerun. She described the judgment as that of man and not God, urging her supporters to remain calm.

    She said: “The judgment is that of man. The court acted as a Father Christmas by awarding to Chief Victor Umeh, what he did not ask for.

    “But I take the judgment in good faith, believing that my victory at the poll was an act of God. I assure my supporters that we will emerge victorious even as I thank Ndi Anambra Central for their support so far.”

    The court also upheld the elections of Deputy Senate President Ike Ekweremadu and Senator Obinna Ogba (Ebonyi Central).

  • 12 finalists compete for N2.25m UBA grants

    12 finalists compete for N2.25m UBA grants

    UBA Foundation, the corporate social responsibility arm of United Bank for Africa (UBA) Plc, has announced the names of the 12 finalists for the 2015 edition of its National Essay Competition (NEC).

    The finalists emerged after a rigorous appraisal of entries for the annual competition, which opened on September 30.

    The Foundation received about 3,500 entries for the UBAF NEC 2015 edition from students of senior secondary schools all over Nigeria, representing 50 per cent increase over 2014.

    The entries were reviewed by a panel of judges made up of professors from reputable Nigerian Universities, who thereafter, shortlisted the 12 best essays.

    The 12 finalists are Ayomide Omole; Udochukwu Melvin Okonkwo; Emediong Uduak Uko; Jonathan Favour; Obiabunmo Precious and Starish Ugie-Oritse-Ete Enonuya. Others are Comfort Macaulay Uwem; Dada Oluwatobi Joshua; Osagiede Omosefe; Olaoye Promise Oluwatobiloba;Eze Ugochinyere Golden and Peter G Okon.

    Managing Director/CEO of UBA Foundation, Ijeoma Aso said: “Three best essays will be selected from the 12 finalists, who will now write a supervised essay at UBA House this weekend.”

    The first prize for the UBA National Essay Competition is a N1 million educational grant for the winner to study in any African university of his or her choice. The second and third prizes are N750,000 and N500,000 educational grants respectively.

    Meanwhile, three brilliant students have already emerged as winners in the 2015 UBA Foundation National Essay Competition in Ghana.

  • UBA customer relives Dubai experience

    UBA customer relives Dubai experience

    Customers, who recently visited Dubai courtesy UBA Awoof promo, have described their experience an exciting journey that would continue to sustain their bond with the bank.

    According to the bank, the 20 lucky customers on the trip had emerged as winners in the Remittance Awoof Promotion organised by the bank to reward customers that had received remittances through MoneyGram and Western Union from any UBA business office across the country.  Sixty other customers were rewarded with beautiful other gift items.

    “The trip is part of the bank’s efforts to reward loyalty, give back to the society and impact the lives of individuals that carry out business with the bank,” the bank said.

    One of the lucky customers, Benita Ojeh, Asaba, Delta State, said: “This is more like a miracle to me. I never believed this would ever happen to me. I am immensely grateful to UBA and most importantly very proud that a bank could reward a customer with a dream trip like this”.

    Ojeh excitement was occasioned by the five-star treatment enjoyed in the prestigious J5 Rimal Rotana Apartments, with each customer allocated a own room each; opportunity to take photographs at various tourism sites in Dubai including the Burj Khalifa, the tallest man made structure in the world.

    Directorate Head, Public Sector Group, Marketing, Mr. Oliver Alawuba, said UBA is more than happy to reward loyal customers because UBA believes that loyal customers deserve to be rewarded.

    He assured that UBA will continue to “reward customers who remain loyal to the bank and do repeat business with us”.

    Already, UBA says plans are at an advanced stage to roll out another Awoof promotion next  January.