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UBA Denies Involvement in Turkey Coup

The United Bank for Africa (UBA) Plc Tuesday denied any involvement in the recent failed coup in Turkey, saying a Turkish newspaper report linking it with the high treason was false and spurious.
A Turkish newspaper, Yenisafak, had alleged that a suspected financier of the coup in Turkey, ex- US commander, General John Campbell, transferred funds used to finance the coup through the Nigerian bank.
It stated that Campbell managed more than $2 billion transactions through UBA in Nigeria, using CIA links to distribute the money among the pro-coup military personnel in Turkey.
But Charles Aigbe, UBA, head of Communications, dismissed the allegation saying it was in no way connected with the coup in the European country
It said: “UBA is aware of the on-going spurious media speculation linking our institution to recent events in Turkey. In the light of this, we believe it is necessary to categorically state that UBA has no involvement in or connection to these accusations, which are clearly false.
“We remain focused and firmly committed to delivering on our strategy to build Africa’s premier banking institution.”
The report by Yenisafak had alleged that the Nigerian branch of UBA was the main base for the last six-months of money transactions for the coup plotters.
It stated that millions of dollars were transferred from Nigeria to Turkey by a group of CIA personnel.
The money, which it said had been distributed to an 80-person special team of the CIA, was used to convince pro-coup generals. More than two billion dollars were allegedly distributed during the process leading to the coup.
It said after taking money from their bank accounts, the CIA team hand delivered it to the coup plotters under military dresses.
It also stated that ongoing investigations showed that Campbell had paid at least two secret visits to Turkey since May, until the day of the coup attempt.
The coup plot that was foiled by the comprehensive effort of Turkish Nation, including its citizens, politicians, media and police forces, was organized by the Fethullah Terrorist Organization (FETO) led-by a cleric Fethullah Gülen who had been living in self-exile in America for several years.
American Intelligence, Military and other institutions are accused of supporting the FETO leader Gülen.
According to Yenisafak, military sources said Campbell, who was the commander of ISAF between August 26, 2014 and May 1, 2016, had held some top secret meetings in Erzurum military base and Adana nicrlik Airbase.
It further alleged that if the coup attempt was successful, Campbell would visit Turkey in a short time, according to the sources.
The sources, it said, claimed that some familiar figures in the Eastern and South-eastern part of the country had taken active roles during the process, while the members of the Gülenist gang had been used in central and eastern region.
All officers who commanded a group of soldiers in a patrol station, unit, company, regiment, brigade, division, corps, or army were kept in close surveillance.
The Turkish paper said in 2015, the pro-Gülenist officers in the ncirlik base established an investigation desk, drawing the map of all soldiers under their command. They investigated the soldiers’ trends, their personalities and family background.
All soldiers were categorized in three groups: opponents, neutrals, and supporters.
A commander from the smallest patrol station to all military units had been blacklisted under the process.
Soldiers who were marked as opponents to the junta, were debarred from the “financial support.”
The military personnel who were in a neutral position received a difference in the amount of money, according to the importance of their position and ranks.
The money transactions were started in March 2015 through the commissioned “courier”.
The supports who also were categorized as “those who will move with us,” were provided a huge amount of money.
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EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud


EFCC
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AfDB Supports Francophone Africa Start-ups with €6.5M

The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.

The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
News
Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.

Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
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