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Mark Zuckerberg Recognises UBA’s Leo at Facebook F8

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Mark Zuckerberg, Facebook boss
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Without a doubt, the digital revolution in the financial space is one that is sweeping across the globe, reshaping the industry’s vision on banking based on some fundamental elements, namely: proficiency, speed, opening hours, and all round total efficiency.

 

Having thoroughly understood that the financial industry is experiencing a deep transformation, with customers’ needs shifting from simple banking solutions to ‘ more advanced seamless financial solutions’.

 

United Bank for Africa, (UBA), Pan African financial institution, a bank that has scored many firsts in the industry and is ranked among the top three banks in the financial space once again showed why it is ranked highly by scoring yet another first not only in Nigeria but in Africa, with the introduction of Leo, an innovation that is capable of revolutionizing the way banking is done in Africa.

 

After,  investing heavily in building a robust and secure e-banking platform that supports its e-banking operations globally through strategic partnerships with various local and international organizations, you could only expect the bar to keep going higher.

 

Beyond being active on Twitter, Facebook, Youtube, Instagram, Google Plus, and also running a corporate blog, Africa’s global bank is continuously innovating and developing strategies aimed at making banking seamless and effortless for millions of its existing and potential customers, while also ensuring utmost safety of their transactions.

 

While some banks are still sticking their head in the sand, United Bank for Africa, amongst many, was quick to realize that social media is fundamentally changing the way people communicate making it pertinent, that the total customer experience needs be considered when providing value propositions. It is with this awareness that the Pan-African financial institution moved to change the face of e-banking with the introduction of Leo, the UBA Chat Banker that enables customers make use of their social media accounts to carry out key banking transactions.

 

Kennedy Uzoka, bank’s Group Managing Director, intelligently noted during the lunch of Leo that, customer experience needs to be considered when providing value propositions hence, in no distant time, instant payments will greatly foster innovation in payments and reshape the way we do payments in the coming years, adding value and great satisfaction for customers, who have now become our hallmark at UBA.

 

Today, barely four months after its launch, testimonials are bound with this new artificial intelligence banker, millions of UBA customers across Africa can now perform series of bank transactions through the Facebook messenger chat platform. All you need to do is ‘chat.’ Yes! Chat with LEO. Like we do on a daily basis with family, friends and business partners.  LEO comes in handy for business individuals and organizations who have limited time to visit a bank to process banking services and requests. With easily accessible data service/network, you can chat with Leo on the go and perform your normal bank transactions such as opening new accounts, checking account balance, Airtime recharge/Top up, Fund transfer, Payment of bills, Quick application for loans, request for mini statements, etc.

 

Following this growing pedigree and massive impact on Nigeria and by extension, Africa’s financial space, Leo got a well -deserved recognition that was gleefully given him, by the CEO of Facebook, Mark Zuckerberg, at the tech giant’s F8 conference for developers.

 

“Leo is doing incredible things,” Zuckerberg reportedly said. When he reached a slider on Business and Bots, Zuckerberg said Facebook has seen good momentum for messenger business with more than 300,000 business bots and 8 billion messages exchanged between them and users. But out of the over 300,000 bots mentioned, Leo was the prime example used. See link:https://youtu.be/vLOuuOG7c-0

 

Launched by the United Bank for Africa (UBA) in January this year, the UBA Leo ‘Chat Banker’. Leo is an artificial intelligence (AI) powered bot that performs banking transactions on Facebook.

 

Leo lets you open new accounts, receive instant transaction notifications, check their balances on the go, transfer funds and airtime top up. You can also confirm cheques, pay bills, apply for loans, freeze accounts, ask for mini statements, among other things and even check the weather.

 

It would be recalled that When Leo was introduced, it was the first time that a financial institution in Africa ever came up with this manner of solution to simplify the way customers transact.

 

Leo lets you open new accounts, receive instant transaction notifications, check their balances on the go, transfer funds and airtime top up. You can also confirm cheques, pay bills, apply for loans, freeze accounts, ask for mini statements, among other things and even check the weather.

 

Designed to work within the platforms people are already familiar with, Leo has already taken off on Facebook Messenger. In the nearest future, the app is expected to show up on other social media platforms and all it takes to enjoy the services is simply to have a Facebook account.

 

Apart from being your perfect virtual banker, Leo also doubles as the perfect buddy and lifestyle application.

 

With Leo, an individual can carry out money transfers and airtime top-up on the go, pay for Uber, as well as perform other transactions like payment of bills, data top-up, mini-statements, loan applications, cheque confirmation, account freezing, among others right on their mobile phones.

 

To experience the ease, simplicity, and excellence of a banker and friend, log on to the web or mobile versions of your Facebook Messenger, type “UBA ChatBanking” into the search area of the messenger app and click on the icon, the power to transact with ease is at your finger-tips.

 

 


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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E-Financial

Ecobank Offsets Repayment of $300m Eurobond Notes

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Ecobank Nigeria Limited has fully repaid bondholders who validly tendered their notes ahead of the February 2026 maturity date.

Ecobank Offsets Repayment of $300m Eurobond Notes

The bank announced the successful completion of its tender offer, under which it prepaid approximately $245 million of its $300 million Eurobond, representing more than 80 per cent of the total issuance.

According to a statement, the transaction relates to the 7.125 per cent Senior Note Participation Notes due February 2026.

Ecobank Nigeria Limited said it launched a tender offer to eligible noteholders in respect of the outstanding $150 million on the bond on November 27, 2025, providing them with an opportunity to redeem their holdings ahead of the original maturity date of 16 February 2026.

It stated that the early and late tender participation deadlines were 11 December 2025 and 29 December 2025, respectively.

According to the bank, holders of notes validly tendered and accepted received a cash consideration of $1,000 per $1,000 in principal amount, in addition to accrued interest from the last interest payment date up to, but excluding, the final settlement date of 31 December 2025.

Following completion of the offer, the bank said the outstanding principal amount of the notes has been reduced to approximately $55.092 million.

The bank also stated that the initiative reflects Ecobank Nigeria’s proactive approach to liability management and prudent balance sheet optimisation.

The tender offer was conducted with Renaissance Capital Africa (Renaissance Securities Nigeria Limited) acting as financial adviser and dealer manager, while Sodali & Co Limited served as tender agent.

The notes were originally issued by EBN Finance Company B.V., with limited recourse to the issuer, for the sole purpose of financing the purchase of the $300 million 7.125 per cent Senior Note due 2026 issued by Ecobank Nigeria Limited.


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Senders Now to Pay N50 Stamp Duty – GT Bank

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GTBank has reminded customers of the new stamp duty rules under the Nigeria Tax Act 2025, which take effect from January 1, 2026.

Senders Now to Pay N50 Stamp Duty – GT Bank

According to an email received by a GT Bank customer on Tuesday, under the new regulation, the ₦50 stamp duty on electronic transfers of ₦10,000 or more will now be paid by the sender, not the recipient.

GTBank clarified that certain transactions will remain exempt from the charge.

“Please be reminded that, in line with the Nigeria Tax Act 2025, which took effect from January 1, 2026, the ₦50 stamp duty on electronic bank transfers of ₦10,000 and above is paid by the sender of the transaction and not the receiver.

“These include transfers below ₦10,000, salary payments, and transfers between a customer’s own GTBank accounts,” the message read.

The bank also noted that the stamp duty is separate from regular transfer fees and will be clearly displayed before completing any transaction, ensuring transparency for customers.

GTBank encouraged customers to review their transfers carefully and plan accordingly, as the update is part of nationwide efforts to streamline compliance with the Nigeria Tax Act 2025.


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Zacch Adedeji says Rebranded NRS will Overhaul Revenue Administration

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Nigeria Revenue Service (NRS) says its replacement with the defunct Federal Inland Revenue Service (FIRS) will overhaul the architecture of the country’s revenue administration.

Dr Zacch Adedeji, the executive chairman of NRS, said this in a television interview monitored from Abuja.

The News Agency of Nigeria (NAN) reports that the provision of the recently enacted tax reform laws changes the nomenclature of the country’s apex tax authority from FIRS to NRS.

According to Adedeji, NRS is not branding. It is a total institutional upgrade moving from fragmented revenue administration to a modern, digitalised, centralised and intelligence-driven system.

He said that under the new framework, multiple tax and revenue-related functions previously spread across agencies have been consolidated, with a stronger emphasis on data integration, automation, and reduced human discretion.

He dismissed allegations that the country’s newly enacted tax reform laws were altered after passage by the National Assembly.

“Only the officially gazetted Acts carry legal authority and are binding on taxpayers and administrators,” he said.

The NRS boss said that an Act of the National Assembly only became effective after Presidential assent and official gazetting, with the gazetted version constituting the authoritative text in the event of disputes.

“Revenue agencies, courts, and taxpayers are therefore guided solely by the gazetted law, not draft bills, committee reports or chamber debates.

“Neither the executive nor the revenue authority has any incentive or legal capacity to alter the law after passage,” he said.

Adedeji said that the overhaul of the NRS is also designed to support the Federal Government’s broader fiscal objectives.

According to him, Nigeria’s tax-to-GDP ratio has improved in recent years, rising to about 13.5 per cent as at October 2025.

“But it remains below the African average and well short of levels seen in peer emerging markets,” he said.

Adedeji said that the overall aim is on taxing profits and returns rather than capital or investment.

“We are not going to tax poverty; we want to tax prosperity,” he said.


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