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Tag: UBA

  • UBA grows gross earnings to N138b in first half

    UBA grows gross earnings to N138b in first half

    United Bank for Africa (UBA) Plc at the weekend released its earnings for the first half of this year showing modest growths in key headlines.

    Key extracts of the interim report and accounts of UBA for the six-month period ended June 30, 2014 indicated that gross earnings rose to N138 billion in first half of 2014, representing an increase of 8.7 per cent on N127 billion recorded in the comparable period of 2013.

    The top-line performance was boosted by strong growth in the bank’s core banking operations as interest income rose by 11 per cent to N98.5 billion in 2014 as against N88.6 billion in the comparative period of 2013.

    The report showed that net interest income rose slightly to N55.2 billion, non-interest income rose 3.1 per cent to N39.8 billion; operating income was up 2.7 per cent to N92.2 billion and  profits  stood at N29 billion for the period.

    Group managing director, United Bank for Africa (UBA) Plc, Mr. Phillips Oduoza, said the bank would remain focused on its medium and long term strategies to grow market share in all its businesses across Africa while reducing its costs.

    “We are confident that business returns will be much better in the remaining period of the year as we continue to deploy new and innovative ways of delivering value adding products and services,” Oduoza said.

    He assured that the bank would deliver better returns to shareholders.

    The bank had last year initiated a new business development plan aimed at consolidating the bank’s position as a leading pan-African global financial services group.

    The three-year business development plan codenamed Project Alpha was designed as the group’s next focus of strategic transformation and it contained key transformation initiatives.

    Oduoza said the new business plan was designed to consolidate the group’s strategic positioning and fully capture the opportunities from Africa’s economic renaissance.

    According to him, Project Alpha is focused on leveraging all aspects of the group’s footprint, product offerings and operational capability, allowing a commitment to customer service transformation, market share growth, the implementation of key e-banking initiatives across all segments, the growth of corporate and trade finance capabilities.

    He outlined that a critical aspect of the Project Alpha initiative is the focus on UBA Africa, which currently contributes 20 per cent to group performance and is projected to contribute about 50 per cent by 2016.

    UBA had grown its top-line by 20.2 per cent to about N265 billion in 2013 as it sustained positive trends in several key performance indices. Key extracts of the audited report and accounts of UBA for the year ended December 31, 2013 showed appreciable improvements in the top-line, operational efficiency and customer’s confidence. The bank paid a dividend of 50 kobo per share.

    The report indicated that gross earnings rose from N220.1 billion in 2012 to N264.7 billion in 2013. The top-line performance was largely driven by a growth of 40.4 per cent in loans and advances as well as a 25 per cent growth in the bank’s total deposits.

    Consequently, the bank’s loan-to-deposit ratio improved from 38.7 per cent to 44.3 per cent. It also enhanced its operational efficiency and productivity with the cost-to-income ratio improving by four percentage points from 64.8 per cent to 60.9 per cent. Profit before tax grew by 7.8 per cent to N56.06 billion in 2013 as against N52.01 billion in 2012. This indicated a return on equity of 21.8 per cent.  The bank’s balance sheet expanded to N2.64 trillion while total deposit base closed the year at N2.22 trillion.

     

  • UBA grows gross earnings to N138b in first half

    UBA grows gross earnings to N138b in first half

    United Bank for Africa (UBA) Plc at the weekend released its earnings for the first half of this year showing modest growths in key headlines.

    Key extracts of the interim report and accounts of UBA for the six-month period ended June 30, 2014 indicated that gross earnings rose to N138 billion in first half of 2014, representing an increase of 8.7 per cent on N127 billion recorded in the comparable period of 2013.

    The top-line performance was boosted by strong growth in the bank’s core banking operations as interest income rose by 11 per cent to N98.5 billion in 2014 as against N88.6 billion in the comparative period of 2013.

    The report showed that net interest income rose slightly to N55.2 billion, non-interest income rose 3.1 per cent to N39.8 billion; operating income was up 2.7 per cent to N92.2 billion and  profits  stood at N29 billion for the period.

    Group managing director, United Bank for Africa (UBA) Plc, Mr. Phillips Oduoza, said the bank would remain focused on its medium and long term strategies to grow market share in all its businesses across Africa while reducing its costs.

    “We are confident that business returns will be much better in the remaining period of the year as we continue to deploy new and innovative ways of delivering value adding products and services,” Oduoza said.

    He assured that the bank would deliver better returns to shareholders.

    The bank had last year initiated a new business development plan aimed at consolidating the bank’s position as a leading pan-African global financial services group.

    The three-year business development plan codenamed Project Alpha was designed as the group’s next focus of strategic transformation and it contained key transformation initiatives.

    Oduoza said the new business plan was designed to consolidate the group’s strategic positioning and fully capture the opportunities from Africa’s economic renaissance.

    According to him, Project Alpha is focused on leveraging all aspects of the group’s footprint, product offerings and operational capability, allowing a commitment to customer service transformation, market share growth, the implementation of key e-banking initiatives across all segments, the growth of corporate and trade finance capabilities.

    He outlined that a critical aspect of the Project Alpha initiative is the focus on UBA Africa, which currently contributes 20 per cent to group performance and is projected to contribute about 50 per cent by 2016.

    UBA had grown its top-line by 20.2 per cent to about N265 billion in 2013 as it sustained positive trends in several key performance indices. Key extracts of the audited report and accounts of UBA for the year ended December 31, 2013 showed appreciable improvements in the top-line, operational efficiency and customer’s confidence. The bank paid a dividend of 50 kobo per share.

    The report indicated that gross earnings rose from N220.1 billion in 2012 to N264.7 billion in 2013. The top-line performance was largely driven by a growth of 40.4 per cent in loans and advances as well as a 25 per cent growth in the bank’s total deposits.

    Consequently, the bank’s loan-to-deposit ratio improved from 38.7 per cent to 44.3 per cent. It also enhanced its operational efficiency and productivity with the cost-to-income ratio improving by four percentage points from 64.8 per cent to 60.9 per cent. Profit before tax grew by 7.8 per cent to N56.06 billion in 2013 as against N52.01 billion in 2012. This indicated a return on equity of 21.8 per cent.  The bank’s balance sheet expanded to N2.64 trillion while total deposit base closed the year at N2.22 trillion.

     

     

     

     

  • UBA Capital, NSE, LSE, JSE, TSX explore dual listings for oil, mining firms

    UBA Capital, NSE, LSE, JSE, TSX explore dual listings for oil, mining firms

    Major African and global stock exchanges have initiated discussions on the prospects and opportunities for Nigerian oil and gas and mining companies to list their shares on the Nigerian Stock Exchange (NSE) and other international stock exchanges.

    At an interactive session organized by UBA Capital, officials of three major international stock exchanges: Johannesburg Stock Exchange (JSE), London Stock Exchange (LSE), and Toronto Stock Exchange (TSX) and top management of the NSE held discussions with select companies in the oil and gas sector and mining industry on the opportunities in dual listing.

    Senior Manager, primary markets, London Stock Exchange (LSE), Darko Hajdukovic, said LSE could help African companies seeking listing to de-risk the process and enhance their valuation noting that London offers a very cost effective option among major stock exchanges.

    According to him, LSE has a long experience of listing companies from Africa with its main market currently having 42 listed African companies with total market capitalization of $239 billion.

    Business development manager, Johannesburg Stock Exchange (JSE), Tamsin Freemantle, outlined that dual listing offers companies larger and complimentary pools of capital, increased visibility, increased liquidity through two pools of liquidity on the home and secondary exchanges and access to capital from emerging market focused funds.

    She noted that 86 companies listed on the JSE have dual listings while JSE has been able to achieve average market liquidity of between 40 per cent and 50 per cent since 2010.

    In the same vein, head, business development, Europe and Africa, Toronto Stock Exchange (TSX), Graham Dallas, said TSX offers Nigerian oil and gas companies the best opportunities to have access to the largest community of listed peers.

    According to him, TSX is the number one exchange in the world by the number of listed oil and gas companies as well as listed mining companies while it also hosts the highest number of oil and gas analysts among world stock exchanges.

    He pointed out that in 2013, oil and gas companies raised $5.2 billion on the TSX with $789 million raised for oil and gas companies covering projects in Africa.

    According to him, TSX has competitive advantages in dual listing because of its superior access to capital especially for small companies, tailored listing rules for oil and gas companies, availability of TSX staff with specialized knowledge in oil and gas matters and rules to facilitate fast capital raising, strong energy trading liquidity, vibrant retail and institutional investor base and a strong equity culture among Canadians with 50 per cent of the Canadian population owning stocks.

    In her remarks, general manager, listings, sales and retention, Nigerian Stock Exchange (NSE), Taba Peterside, urged the oil and gas companies to take advantage of the increasing visibility and interest in the Nigerian economy to list their shares.

    She noted that 48 per cent of the funds raised by the Seplat dual listing were raised from local shareholders underpinning the importance of local investors when listing a Nigerian company on any exchange.

    Partners from the international law firms Jones Day and Freshfields Bruckhaus Deringer LLP however, stressed the need for appropriate corporate governance structures to be put in place well before a company approaches the international markets.

    Group chief executive officer, UBA Capital, Oluwatoyin Sanni, said UBA Capital would support capital raising aspirations of African issuers while simultaneously creating attractive and accessible investment opportunities for investors.

    According to her, UBA Capital will continue to partner with credible regional and international institutions as it pursues its strategic intent to build Africa’s leading integrated financial services group.

    Managing director, investment banking, UBA Capital, Wale Shonibare,  noted that UBA Capital Plc is well-positioned to support fast-growing mining companies and their oil and gas counterparts to raise the much needed equity capital from local and international sources.

     

  • UBA assures on returns as shareholders laud N16.5b dividend

    United Bank for Africa (UBA) Plc at the weekend reassured its shareholders that it would improve on its performance and enhance returns in the years ahead as shareholders lauded the distribution of about N16.5 billion as cash dividends for the 2013 business year.

    At the annual general meeting in Lagos, chairman, United Bank for Africa (UBA) Plc, Ambassador Joe Keshi, told shareholders that the financial services group was poised to deliver better results in the current business year.

    According to him, the fundamentals of the bank have continued to improve with growths in incomes and underlying indices.

    “We believe the bank is poised to deliver better performance in 2014 as the underlying momentum of the group’s business continues to be robust,” Keshi said.

    He said the bank has been able to consistently deliver value to shareholders due to its resilient business model, in spite of unanticipated domestic and global headwinds faced by the industry.

    In his remarks, group managing director, United Bank for Africa (UBA) Plc, Mr. Phillips Oduoza said the bank’s African subsidiaries have continued to show greater contribution to the group’s performance noting that overall revenue of the African subsidiaries grew by 22 per cent in 2013 to N49.9 billion as against N41.5 billion in 2012.

    He outlined that the bank’s key strategic imperatives remain as defined in 2013 under the bank’s “Project Alpha” adding that the bank will leverage on the viable platform established in 2013 to further consolidate on the current growth momentum.

    According to him, as a proactive bank, UBA has adequately resourced and re- aligned its structures to optimise emerging opportunities arising across all the regional blocs, while also adopting appropriate risk management frameworks to mitigate likely exposures in its operations both within the local and global environment.

    “We will adopt a very aggressive approach to market and ensure focused implementation of our strategic priorities, to drive achievement of our corporate targets,” Oduoza added.

    Shareholders roundly commended the performance of the bank during the year ended December 31, 2013. They unanimously endorsed the audited financial statements and report as well as a gross dividend of N16.5 billion. Shareholders will receive a dividend per share of 50 kobo.

    They commended the board and management for sustaining the bank’s profitability, despite the challenging operating environment.

    National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu said directors of the bank deserve commendation for several initiatives taken to mitigate operating challenges.

    “The board and management should be commended for the way they handled last year’s operations of the bank, they have done well and we look forward to a better dividend next year,” Nwosu said.

  • UBA shows strong fundamentals, efficient assets

    UBA shows strong fundamentals, efficient assets

    United Bank for Africa (UBA) Plc recorded significant improvements in the cost of operations and assets quality as the bank grew its loans book by 42 per cent last year while reducing the number of non-performing loans to one of the lowest in the industry.

    Analysis of the audited report and accounts of the bank for the year ended December 31, 2013 showed that the ratio of non-performing loans dropped to 1.19 per cent in 2013 compared with 1.90 per cent in 2012. The results also showed a significant drop in cost-to-income ratio to a low of 60.9 per cent as against 64.8 per cent in the previous year.

    The increase in loans portfolio and reduction in deficient loan assets underlined improvement in the credit risk management of the bank.

    Besides, the bank’s net interest margin improved to 5.9 per cent in 2013 as against 5.8 per cent in 2012, an indication that the bank is making more money from every naira lent out. The bank’s liquidity ratio stood at a healthy 55 per cent, well above the regulatory minimum of 25 per cent, a strong indication that UBA remains largely liquid despite the increase in the Cash Reserve Ratio (CRR) for public sector deposits to a high of 75 per cent by the Central Bank of Nigeria (CBN).

    This confirms the position of many analysts, including Renaissance Capital, that UBA will not significantly be negatively impacted by the increase in CRR on public sector deposits.

    The report also indicated that the bank kept to its projection to increase lending support to critical sectors of the Nigerian and African economy. UBA has business operations in 18 other African countries outside Nigeria.

    The bank’s loan to deposit ratio stood at 44.3 per cent, a major achievement that gives it strong headroom to keep expanding its lending portfolio. The financials also showed a healthy liquidity position with a liquidity ratio of 55 per cent in 2013, substantially above the regulatory minimum of 25 per cent.

    Key extracts of the report also showed appreciable improvements in the top-line, operational efficiency and customer’s confidence. The board of the bank has recommended a dividend of 50 kobo per share.

    The report indicated that gross earnings rose from N220.1 billion in 2012 to N264.7 billion in 2013. The top-line performance was largely driven by a growth of 40.4 per cent in loans and advances as well as a 25 per cent growth in the bank’s total deposits.

    Consequently, the bank’s loan-to-deposit ratio improved from 38.7 per cent to 44.3 per cent. It also enhanced its operational efficiency and productivity with the cost-to-income ratio improving by four percentage points from 64.8 per cent to 60.9 per cent. Profit before tax grew by 7.8 per cent to N56.06 billion in 2013 as against N52.01 billion in 2012. This indicated a return on equity of 21.8 per cent. The bank’s balance sheet expanded to N2.64 trillion while total deposit base closed the year at N2.22 trillion.

    The significant increase in lending had a positive impact on the bank’s released financials with interest income rising significantly by 23.8 per cent to N186 billion while fee and commission based income rose 5.1 per cent to N50.01 billion.

    Group Managing Director, United Bank for Africa (UBA) Plc, Mr Phillips Oduoza, said the bank committed $700 million in funding to the power sector privatisation exercise in Nigeria , financing different investors to acquire the power assets put on sale by the Federal Government of Nigeria last year.

    Some of the major deals UBA actively participated in the power sector include taking up $120 million, N19.44 billion, of the financing in respect of Transcorp Ughelli Power Plant. The bank also acted as mandated lead arranger, underwriting the entire facility of $122 million, N20 billion, for Kann Utilities’ acquisition of the Abuja Electricity Distribution Company, financing the payment of 75 per cent acquisition of 60 per cent equity stake in Ikeja Electricity Distribution Company.

    The bank also threw its financial weight behind Aura Energy for the acquisition of Jos Electricity Distribution Company, acting as the lead arranger for N9.6 billion to finance the payment of 75 per cent of Aura’s 60 per cent equity stake in the electricity distribution firm.

    UBA also arranged debt financing of $68 million as well as secured equity investment from a strategic and technical investors for the acquisition of the Shiroro Hydroelectric Power Plc by North South Power Company Limited.

    “UBA had a good performance for full year 2013. This performance puts us in a position to continue to pursue our goal to achieve Industry leadership in the medium term. We were also able to gain considerable strides in our project Alpha initiatives by improving customer service delivery and leveraging our balance sheet to participate in emerging growth sectors of the economy,” Oduoza said in a comment on the 2013 performance.

    According to him, the performance for last year was due to prudent cost management policies, enhanced efficiency of the bank’s network and the impact of other productivity initiatives.

    “Our bank achieved a good result despite a challenging operating environment, demonstrating the strength and resilience of our people and their dedication to implementing our growth plans in 2013,” Oduoza said.

    According to him, the bank’s customer-focused, corporate banking and treasury led business model drove success for the year. Also, in line with its African focus, the bank shared the responsibility of empowering African businesses through its network, capital and commitment to excellent service delivery.

    Oduoza assured that the UBA Group has the capacity to continually evolve and come up with new ways to provide high end and value adding products and services to its customers to enable it to thrive in a tough economic environment.

    He noted that the bank’s management remain committed to achieving set targets for the year by maintaining a disciplined approach to the execution of agreed strategic initiatives.

  • UBA subsidiaries emerge ‘World’s Best’

    UBA subsidiaries emerge ‘World’s Best’

    Three subsidiaries of the United Bank for Africa (UBA) Plc are the World’s Best Emerging Market Banks in Burkina Faso, Cameroon and Senegal.

    In a statement, the bank said UBA Burkina Faso, UBA Cameroun and UBA Senegal were considered the best in their various countries of operations by Global Finance magazine in an exclusive survey on the ‘World’s Best Emerging Markets Banks in Africa 2014’ in the region and in 31 countries.

    It was done by the magazine’s editors with input from industry analysts, corporate executives and banking consultants.

    Publisher and Editorial Director of Global Finance Joseph D. Giarraputo, said: “Faced with slowing growth and volatile markets, these banks are star performers under increasingly challenging conditions.

    “The banks that Global Finance is honoring may not be the largest or oldest, but they are the best at targeting their products and offerings to the specific markets they serve.”

    Criteria for choosing the winners included growth in assets, profitability, strategic relationships, customer service, competitive pricing, and innovative products. In addition, for the first time, a poll of Global Finance’s corporate readership was conducted in order to increase the accuracy and reliability of the results.

    The Global Finance World’s Best Banks 2014 Awards Ceremony will be held during the IMF/World Bank Annual Meetings, on the morning of Saturday, October 11, this year, at The Washington National Press Club.

    Chief Executive Officer, UBA West Africa, Mr. Oliver Alawuba, said the awards in three different countries in Africa testify to the fact that it made the right decision to venture into Africa in the first place.

    He said: ”In this era of slow economic growth, high markets volatility and rapid changes in the regulatory environments across Africa, banks are facing increasingly challenging operational environments, yet UBA country subsidiaries are able to target their products and services offerings to specific markets that drive the economies of their countries of location. That is why many of the UBA country subsidiaries are doing well and would continue to do well in years to come.”

  • UBA spends N2b on ATMs

    UBA spends N2b on ATMs

    • Plans 1000 more

    United Bank for Africa Plc (UBA) is investing over N2billion on the installation of automated teller machines (ATMs) across the country to deepen cash-less drive of the Central Bank of Nigeria (CBN) and financial inclusion in line with the regulator’s Financial System Strategy (FSS20) 20:2020.

    UBA’s former Head of ATM, Obinna Uma, who spoke on the sideline at a forum to showcase the lender’s e-banking bouquets over the weekend, said the lender was not relenting to take banking services to its numerous customers.

    According to him, the bank has concluded plans to deploy another set of 1000 new ATMs across the country this year, adding that it is also doing a lot of partnership with technology firms to upgrade all ATMs. He said it had been discovered that ATMs have the greatest reach in terms of alternative payment channels, stressing that the lender will do more in that direction.

    Earlier, the Divisional Head, E-Banking Products, Dr Adeyinka Adedeji, said based on the premium paid on e-banking by the lender, it has a dedicated structure, adding that it is standing on its own with its independent budget and workers.

    He said the lender is positioning its e-banking service such that people will be attracted to open an account with the bank because of its excellent service, stressing that in the sub-region, the banking model remains outstanding.

    Adedeji said the bank is de-emphasising physical structures, but investing massively on e-banking products, quality assurance and management to ensure that the use of alternative channels of payment are encouraged and embraced in the country.

    He said the cash-less policy of the CBN has recorded a huge success because it compelled lenders who were not prepared for it at the time it took off, to hurriedly put the requisite infrastructure in place.

  • UBA Foundation sponsors overseas training for LASUTH

    UBA Foundation sponsors overseas training for LASUTH

    Us part of concerted efforts to improve on child mortality in Nigeria , UBA Foundation is sponsoring doctors and nurses from the Lagos State University Teaching Hospital (LASUTH) to India for Neo-Natal care studies.

    Group managing director, United Bank for Africa (UBA), Mr. Phillips Oduoza and managing director, UBA Foundation, Ms. Ijeoma Aso presented the cheque the cost of the training worth N5.8 million to officials of LASUTH at the UBA head office in Lagos.

    Ms Aso said the move was in furtherance of the Foundation’s intervention in the area of child mortality in Nigeria which motivated it to donate incubators to teaching hospitals across the country.

    “This is taking our incubator initiative a notch further. Last year we gave out incubators to teaching hospitals across Nigeria and now we are sending medical personnel for further training on behalf our little ones. Healthcare for infants deserves a lot of focus,” Aso said.

    Also speaking at the event, Oduoza underscored the importance of training and retraining particularly in the health sector.

    According to him, given the advancement in technology, new ways and new equipments have been discovered in treating aliments and handling medical cases.

    “It is to this end that we felt compelled to come to the aid of LASUTH in further enhancing and developing the knowledge base of our doctors and nurses,” Oduoza said.

    Head of Neo-natal Unit, Department of Paediatrics, LASUTH, Mrs Elizabeth Disu commended UBA Foundation for its support to the hospital noting that the donation would go a long way in improving the quality of care given to newborn and reduce neo-natal deaths.

    According to her, approximately a quarter of a million Nigerian new born babies die every year, with about 700 deaths recorded each day.

    Disu said despite huge investment in healthcare, the Neonatal Intensive Care Unit (NCIU) could end up unable to fulfill the desired objective of reducing neonatal deaths, if other crucial needs, especially in manpower development are not addressed.

    “Government alone cannot provide all necessary infrastructural, equipment and manpower requirements for the people. We have noticed with interest UBA’s corporate social initiatives and felt encouraged to seek your support. We are overwhelmed by your speedy response. We remain eternally grateful,” Disu said.

     

  • Social media summit for journalists

    Social media summit for journalists

    Everything Journalism – a group on the professional network, Linkedin.com – and its adjunct, The Journalism Clinic, in collaboration with United Bank for Africa (UBA) plc is hosting a one-day social media summit to boost the capacity of Nigerian journalists to maximally use the social media for news gathering, building online communities and engaging with their audiences.

    Tagged: “Functional Social Networking for Nigerian journalists”, it will hold tomorrow, at the Amphitheatre, UBA House, 57 Marina, Lagos.

    “We have seen the creative disruption happening in the media space. It is important that Nigerian media professionals get a clear understanding of this process and how to take advantage of it. We hope that by hosting this high profile discussion for the media, a clear path way will be mapped for the Nigerian media industry,” said Phillips Oduoza, MD/CEO UBA Plc while explaining why the bank decided to sponsor and host the event.

    Convener, Taiwo Obe, founder and moderator of the EveythingJournalism group and director of The Journalism Clinic, stated that at the end of the summit, not only would journalists “be more social-media friendly and savvy, media owners, a number of whom have indicated their participation at the summit, should also have the zeal to change their mindsets to operate more efficiently, and profitably, in the digital age.”

     

  • UBA, Journalism Clinic host social media summit for journalists

    UBA, Journalism Clinic host social media summit for journalists

    Everything Journalism – a group on the professional network, Linkedin.com – and its adjunct, The Journalism Clinic, in collaboration with United Bank for Africa (UBA) plc will on Thursday host a social media summit for journalists.

    Tagged “Functional Social Networking for Nigerian journalists” the summit is to boost the capacity of Nigerian journalists to maximally use the social media for news gathering, building online communities and engaging with their audiences.

    The programme will hold at the Amphitheatre, UBA House, 57 Marina, Lagos from 9am- 3pm.

    “We have seen the creative disruption happening in the media space. It is important that Nigerian media professionals get a clear understanding of this process and how to take advantage of it. We hope that by hosting this high profile discussion for the media, a clear path way will be mapped for the Nigerian media industry,” said Phillips Oduoza, MD/CEO UBA Plc while explaining why the bank decided to sponsor and host the event.

    Convener, Taiwo Obe, founder and moderator of the EveythingJournalism group and director of The Journalism Clinic, stated that at the end of the summit, not only would journalists “be more social-media friendly and savvy, media owners, a number of whom have indicated their participation at the summit, should also have the zeal to change their mindsets to operate more efficiently, and profitably, in the digital age.”
    The four key questions to be answered by a team of media professionals and scholars are: Does One Platform Suit All? What Does It Profit Us?; What Can You Teach Me About Social Media? and Ethics: Why It Matters in Social Networking?

    Does One Platform Suit All? will explore which social network is most suitable for news gathering, if such is tenable. This session has as panellists Ms Joke Kujenya, assistant editor, Investigations at The Nation and mentor of young journalists; Tolu Ogunlesi, a blogger and columnist; and  Pelu Awofeso, a travel writer and travel book author. Both Awofeso and Ogunlesi are past winners of the CNN-Multichoice African Journalist of the Year awards in different categories while Kujenya is the 2013 NMMA Power Reporter of the Year. Obe is session moderator.
    The panelists for “What Does It Profit Us?” are: Azubuike Ishiekwene, GMD, Leadership Newspapers and team leader of the first initiative by a Nigerian newspaper to charge its online readers; Dr Anderson Uvie-Emegbo, principal, Dymore Vision Consulting, a niche Pan African digital business management consulting firm operating in Nigeria and Kenya and Dotun Oladipo, who runs theeagleonline.com and former online editor of The Sun.

    This session, which will explore how media organisations can earn more revenues as evolving technologies continue to disrupt their businesses, will be moderated by Gbenga Adefaye, editor-in-chief and General Manager of Vanguard Newspapers which online portal is ranked #1 by global web analytics firm, Alexa.com.

    Have the institutions of higher learning in Nigeria offering journalism and mass communication updated their curricula to reflect the evolving technologies or any studies on the web economy? This is what the session on “What Can Teach You Me About Social Media?” will explore.

    The panelists are: Lekan Otufodunrin, managing editor, online, The Nation; Wale Ajayi, head, department of mass communication, Lagos State Polytechnic and a new media/multimedia journalism specialist and Qasim Akinreti, online journalist with the Voice of Nigeria, author, media trainer and consultant on multimedia platforms will discuss “What can you teach me about social media?” Prof Emevwo Biakolo, dean of faculty of the School of Media and Communication, Pan Atlantic University, Lagos, is the moderator.
    Unlike the traditional media where there are hordes of gate-keepers whose duty is to keep off unwanted elements from publications and broadcasts, the social media is, more or less, an open field where it seems all you need is access to the Internet. This raises a lot of issues on ethics and standards. Panelists are: Dapo Olorunyomi, CEO/Editor-in-Chief of Premium Times, the online newspaper and Shina Badaru, founder and editor of Technology Times and Yomi Omogbeja a trained online journalist, web designer and editor of AthleticsAfrica.
    Dr Pius Onobhayedo, an experienced information technology and new media professional and head of New Media Department, School of Media and Communication, Pan Atlantic University will do a round-up of the sessions with a view to recommending action plans for execution by the journalists and media owners. There will also be a presentation on UBA’s plc’s Advancements on e-commerce.
    The event is open to pre-registered participants.