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UBA announces Oliver Alawuba as new GMD (Photos)



United Bank for Africa Plc, Africa’s global bank, has announced the appointment of Oliver Alawuba as Group Managing Director, overseeing all the group’s banking operations across its twenty African country network and globally in the United Kingdom, the United States of America, France, and the United Arab Emirates.

Oliver Alawuba joined UBA in 1997 and has held a series of senior positions, including as the CEO of UBA Ghana, the CEO of UBA, Africa and most recently, as Group Deputy Managing Director.

“I am very pleased to announce Oliver Alawuba as the new Group Managing Director of the UBA Group. Oliver has extensive experience in Nigeria and our African network and is well equipped to advance our pan-African and global strategy. I have no doubt that Oliver will build on the legacy of Kennedy Uzoka, who has exemplified transformational leadership by championing a customer-first philosophy; launching our twentieth operation in Africa, UBA Mali; acquiring a wholesale banking licence for UBA UK in the United Kingdom; and opening our fourth global operation, UBA Dubai, in the United Arab Emirates,” UBA Group Chairman, Tony Elumelu, stated.


Kennedy Uzoka, Tony Elumelu and Oliver Alawuba

Oliver Alawuba expressed his commitment to his new role as Group Managing Director saying, “I am grateful for the opportunity to lead this great institution and would like to thank the UBA Group Chairman and the members of the Board of Directors for the confidence they have put in me to deliver the mandate.”

Alawuba takes on his new position from August 1, 2022, subject to approval by the Central Bank of Nigeria.

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Muyiwa Akinyemi was also appointed as Deputy Managing Director.  Muyiwa joined UBA in 1998, as a Senior Banking Officer in UBA’s Energy Bank, and has served the Group in Nigeria and our broader Africa network for twenty-four years.


L-R: New Executive Director, North Bank, Ms Emem Usoro; Group Chairman, Mr. Tony Elumelu; New Group Managing Director/CEO, Mr. Oliver Alawuba; and New Deputy Managing Director, Muyiwa Akinyemi, during the corporate event to announce the appointments of new GMD and Executive Directors for UBA Group, held at the Tony Elumelu Amphitheatre, UBA House, Lagos on Monday

Other executive appointments included Sola Yomi-Ajayi as Executive Director, Treasury and International Banking, Ugochukwu Nwagodoh as Executive Director, Finance and Risk Management, Alex Alozie, Executive Director and Group Chief Operating Officer and Emem Usoro, Executive Director, North Bank.

Yomi-Ajayi has been with the group since 2004 and has considerable international experience, culminating in her appointment as CEO of UBA America, while Nwagodoh joined the group from PwC in October 2004. He has since held a series of significant roles in the areas of performance management, compliance, financial control and reporting.

It was in 2019 that Alozie joined the group and has been responsible for the group’s digital transformation and operational efficiencies, while Usoro joined in 2011 and has served in a series of senior regional appointments across Nigeria, covering the retail, corporate and public sectors.

The board also announced the retirements of the following executive directors, who have completed their tenures. They included Kennedy Uzoka, Uche Ike, Chukwuma Nweke, Ibrahim Puri and Chiugo Ndubisi. Freelanews was informed that most of them will continue to serve the broader group upon regulatory approval of a holding company structure.

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A further announcement was made on the retirement of a non-executive director, Ambassador Joe C. Keshi, OON, who served as vice chairman of the board.  This takes effect from August 1, 2022 after a completion of his tenure of twelve years.

The group chairman congratulated the retiring directors on the completion of their tenors and their exemplary records.


United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 35 million customers globally.  Operating in twenty African countries and in the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

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Last Set of Winners Emerge in Season 2 of Wema Bank’s 5for5 final Promo Draw



From left to right: Chief Experience Officer, Wema Bank,Adeyemi Oshundiya, Chief Financial Officer, Wema Bank, Tunde Mabawonku, Head, Monitoring and Enforcement Lagos State Lottery Board, Mr. Tanko Olaseni, Lagos State Lottery Board, Mrs Oyinkan Kusamotu, Retail Divisional Head, Wema Bank, Dotun Ifebogun,, Representative of the Federal Competition and Consumer Protection Commission ,Mrs. Susan Onwuka and Representative of the Monitory and Enforcement National Lottery Regulatory Commission, Mr. Niyi Adeleke at the grand finale of the ALAT 5for5 promo draw, held at the Wema Bank towers this weekend

Winners have emerged in the ground-breaking final live draw of the 5for5 promo event held in Lagos on January 20, 2023. This event featured mouth-watering cash prizes of N10,000, N100,000, and the star prize of N1,000,000, which 2 lucky customers won.

Abubakar Bisoye Bisi of Broad Street Branch, Lagos and Toyeeb Hussain of Ondo Branch emerged the two lucky winners of N1 million each. 55 other customers won N10,000 each, while another 20 others won N100,000 each in electronic draws conducted at the bank’s Head Office.

Season 1 of the promo began in 2021 as part of activities to reward its customers and encourage a healthy savings culture. This second edition closed the curtains on the second season of the 5for5 promo with an impeccable event line-up, social networking, and entertainment, which created a memorable experience for participants that participated physically in Lagos and virtually on Instagram Live on @alat_ng.

Speaking to pressmen during the event, The Chief Finance and Strategy Officer, Tunde Mabawonku, in his closing remarks, emphasized the uniqueness of the 5for5 promo grand finale, stating that it was designed to give a personalized feel to the event. “One of the highlights of the event is to remind our customers that the bank and all of the activities we host are designed to help them navigate the various financial services we offer and make their experiences the best in the history of the Nigerian banking industry,” he stated. “This is our way of thanking and rewarding customers for their loyalty.


Speaking further, he said, “This season’s grand finale has been a success, and it is already generating considerable interest in the banking industry and among shareholders.”

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The Divisional Head, Retail Banking, Mr. Dotun Ifebogun, said the promo is a way of promoting the savings culture among customers as well as encouraging the use of the bank’s alternate digital channels.

He explained that participating customers needed to do five transactions using the alternate channels as qualification criterion.

During the cheque presentation ceremony, the newly appointed Managing Director, Moruf Oseni, expressed his unwavering faith in the promo event and its enormous impact on the banking community. In addition, he praised the efforts of the organizing committee, the able knights, and every other participant in the event’s success.

The stakeholders of the Nigerian banking behemoth Wema Bank praised the bank’s management and board for their shrewd leadership and customer-centric values, which contributed to the success of the second season of the promotion.


Wema bank pledges to return with a bigger and better third season of the 5for5 promo and urges customers to keep an eye out for this upcoming event and many other opportunities to improve their lives.

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CBN sensitises Kaduna traders to new naira notes



The Central Bank of Nigeria has taken its new naira notes sensitization to the Abubakar Mahmud Gumi Market, Kaduna State with an appeal to traders to ensure that their old notes are deposited at the commercial banks.

The apex bank noted that there would be no extension of the January 31 deadline within which the old naira notes would cease as legal tender in the country.

The CBN’s Director of Capacity Development, Mohammed Abba, who briefed journalists on the benefits of the new naira notes while sensitizing traders at the Central Market Motor Park, Kaduna on Saturday, urged traders to hasten up and deposit their old naira notes in exchange for the new notes.

He also noted that the CBN would sanction errant commercial banks that refused to dispense the new naira notes through their Automated Teller Machines or hoard the money from customers, noting that “now, there is enough money.”


“We hope that by Monday all the banks dispensing old notes in Kaduna will stop doing that,” he added. 

The CBN boss also disclosed that the apex Banks would reach out to people in rural areas through traditional rulers so as to sensitize them on the new naira notes and the deadline when the old notes would cease as legal tender. 

According to him, the sensitization will be taken to churches, mosques as well as motor parks as part of efforts to encourage the general public to deposit their old naira notes before the deadline. 

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Earlier, the Chairman of the Kaduna Market Development Association, Abdulrahman Mohammed, had thanked the apex bank for sensitising its members to the new monetary policy of the bank. 

He urged his members to go to any commercial banks nearest to them to deposit their old naira notes for the new ones in order the beat the deadline, noting that charges have been suspended by the CBN.


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Final Countdown Commences for Wema Bank’s 5for5 Promo Season 2 Grand Finale



The second edition of the ALAT 5for5 promo, a six-month-long mega reward programme, is set to witness an all-action finale this month that will see both new and existing customers in attendance in Lagos.

The Promo, which commenced on June 1st, 2022 is set to come to a fitting conclusion on Friday, January 20th, 2023-the day of the live draws, after an exciting season marked by monthly rewards, account activation events, incentives for app downloads, and other unmatched deals for new and existing account holders across all Wema Bank branches.

This remarkable event will excite customers, stakeholders, and interested parties in Lagos, as it ushers in the last group of millionaires during the final month of the promo. Abuja customers were the first to receive the 5for5 goodies in July 2022, when the first two millionaires, in the second season, were created.

Speaking about the grand finale that is set to take place in Lagos, the Divisional Head, Retail Business, at Wema Bank, Dotun Ifebogun, said, “We introduced the first season of this promo in 2021, to reward our loyal customers, foster healthy customer relationships, and help them develop a better savings culture. And we have been able to achieve these and much more. The feedback from customers and businesses has been impactful, and we’re pleased to know that we are positively impacting lives”.


“We promised to reward over 500 customers during the beginning of this second season to help make a difference in the lives of our customers financially. So far, we have made this dream a reality, and we hope to continue making a difference in the lives of Nigerians”

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Wema Bank, a leading and innovative financial institution, is keeping its promise to make this final promotional month as exciting as possible for its clients.

Speaking about the activities lined up for the grand finale, Ms. Temitope Ogundeji, Head, Liability Products, Wema Bank, stated, “We have various exciting events and offers for customers during the grand finale of the 5for5 promo, so we urge them to come to witness the promo draw live or follow the event on Instagram live.”

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