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CSR: UBA Foundation Commissions Link Bridge @ Usman Danfodiyo University,Presents Leo Virtual Banker to Students

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UBA Foundation, the Corporate Social Responsibility Arm of Pan- African financial institution, United Bank for Africa (UBA) Plc, has completed the construction of a pedestrian bridge primarily for students of the Usman Danfodiyo University, Sokoto State, thus bringing comfort to students of the institution.

 

The construction of the bridge, valued at about N13m was commissioned on Monday, by Governor Aminu Waziri Tambuwal, Governor of Sokoto State.

 

Inaugurating the bridge, Mr Kennedy Uzoka, group managing director of UBA, said the construction of the bridge was part of the bank’s efforts to give back to the society.

 

Uzoka also said the bank deemed it necessary to construct the bridge, to cushion the suffering of the students of the institution.

 

“Today’s event is very symbolic. We believe in the society we operate in and this gesture is part of efforts of the UBA Foundation to give back to the society.

 

“I strongly believe that with this bridge, students can move freely and will not have to go a long distance to reach their hostels.

 

“So, this saves time and will enable them to study harder,” he said.

 

He said the Foundation gave priority to education through scholarship to Nigerian students; improve the environment and empowered many people with a view to impacting on the society.

 

According to Uzoka, UBA is creating a new narrative for Africa capable of making Africans run organisations that can stand the test of time for over 100 years.

 

He also used the opportunity to enlighten the students on UBA’s new customer centric product, Leo Virtual Banker, which he said gives customers, particularly youths, more power in conducting transactions.

 

According to Uzoka, “this is the first time a financial institution in Africa has come up with this manner of solution to simplify the way customers transact. Something that has become necessary in today’s fast-paced world with demands for  quick-time transactions and response. We know that students can be very busy with lectures and keeping up with so much activity. It is pertinent, they get a young mobile upwardly mobile banker like Leo the chat banker to proffer an array of solutions to all their banking needs.

 

With the launch of the Chat Banking, customers will be able to open new accounts, receive instant transaction notifications, check their balances on the go, transfer funds and airtime top up. They will also be able to confirm cheques, pay bills apply for loans, freeze accounts, request for mini statements, amongst other things.

 

Mr. Uzoka said, “The formulation of this product, is consistent with the bank’s customer 1st philosophy, where we are doing things with a strong focusing on what the customers want, where they want it, and in the exact platform they want it.’

“At UBA, we have been working with technology giants that have the global capacity to ensure not only seamless but also effortless banking for millions of our customers across Africa. We at UBA, have collaborated with Facebook to come up with this innovation that is capable of revolutionising the way banking is done in Africa,” he said. Uzoka noted that Leo will  in the nearest future, show up on other social platforms and added that all it takes to enjoy the services is simply to have a Facebook account.

Gov. Aminu Tambuwal of Sokoto State

In his remarks, Gov. Aminu Tambuwal of Sokoto State, who spoke through the Secretary to the State Government, Prof. Bashir Garba lauded the UBA Foundation for the gesture.

 

He called on other banks operating in the state to emulate the footstep of the bank by giving back to the society.

 

“We need more of these interventions to public universities in order to improve teaching and learning.

 

“I really commend Tony Elumelu and the Group Managing Director for coming to the aid of the students,” the governor said

 

Tambuwal, therefore, renamed the bridge ‘Tony Elumelu UBA Pedestrian Bridge’.

 

Prof. Abdullahi Zuru, Vice-Chancellor of the University, described the construction of the pedestrian bridge as unprecedented.

 

He said it would go a long way in taking care of the challenges facing the students

“We reached out to a number of organisations but thank God UBA heeded our call and came through for us in a big way. It is now the shortest way for our students particularly now. We deeply appreciate Elumelu and the UBA family. The edifice which has side lights will serve us in no small way,” he stated.

 

In the recent past, UBA Foundation has intervened in the infrastructure development of universities across Africa with donation of ICT centres, hostels, recreational parks among many others.  Beneficiaries of such interventions include Universities of Ilorin, Benin, Lagos, Ekpoma and many others.

 

 

 

 

 

 


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Detained Binance executive drags EFCC, NSA to court

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Binance executive Tigran Gambaryan has has dragged the National Security Adviser Nuhu Ribadu and the Economic Financial Crimes Commission (EFCC), to court alleging violations of his fundamental rights.

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In a filing dated March 18 and presented by his lawyer Olujoke Aliyu from Aluko and Oyebode Law Firm, Gambaryan sought redress before Justice Inyang Ekwo, requesting five reliefs. Similarly, Nadeem Anjarwalla, Binance’s Africa regional manager who escaped custody on March 22, initiated a separate suit before Justice Ekwo.

Gambaryan and Anjarwalla, in the suits marked: FHC/ABJ/CS/356/24 and FHC/ABJ/CS/355/24, had sued the Office of NSA (ONSA) and EFCC as 1st and 2nd respondents.

Gambaryan, a US citizen overseeing financial crime compliance at the crypto exchange platform, alleged that his detention and the confiscation of his international travel passport violated Section 35 (1) and (4) of the 1999 Constitution, constituting a breach of his fundamental right to personal liberty. He further requested the court to order his immediate release and the return of his passport. Additionally, he sought an injunction preventing further detention related to any Binance investigations and demanded a public apology from the respondents, along with costs incurred.

Gambaryan stated that he visited Nigeria on February 26 alongside Nadeem Anjarwalla, representing Binance, in response to invitations from ONSA and EFCC. Despite attending the meeting as requested, both were detained afterward without formal charges.

During the court proceedings, T.J. Krukrubo, SAN, representing Anjarwalla and Gambaryan, informed the court of the respondents’ absence despite being served. Krukrubo also mentioned their notice of withdrawal of legal representation for Anjarwalla, filed on March 26.

Justice Ekwo noted the withdrawal of legal representation and adjourned the matter to April 8 to allow the applicants to seek new representation and give the respondents an opportunity to appear.

In Gambaryan’s case, Krukrubo stated that although the processes were served on ONSA and EFCC, they still had time to respond. He requested an adjournment, indicating that the respondents’ deadline to file their applications would expire the following week.

Consequently, Justice Ekwo scheduled the next hearing for April 8 to continue proceedings.


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AXA Mansard Empowers Female SMEs with Financial, Digital Skills

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AXA Mansard, a member of AXA has empowered 200 female Small and Medium Enterprises with financial literacy and digital business skills.

In collaboration with SME 100 Africa, the two-day training, which was held in Lagos, is part of AXA’s lined-up programmes to commemorate this year’s International Women’s Day.

Speaking, Olusesan Ogunyooye, Head of Marketing AXA Mansard, said the training was aimed to empower female SME owners with skills to improve business output and position them for the increasing economic opportunities available in an increasingly digital marketplace.

Ogunyooye noted that the move was in line with AXA Mansard’s sustainability agenda, explaining that the company was convinced that support for women through its inclusive protection programmes was pivotal to its purpose of acting for human progress by protecting what matters and its mission of moving from being a payer to a partner.

He further said that focusing on digital skills was important because the company realised the importance of digital skills to the growth of the SME sector in Nigeria and wants to ensure that women were empowered enough to be a consequential part of that growth.

“It’s almost trite to say that SMEs are the engine for economic growth, especially in developing countries like Nigeria, where over 45 million adults are business owners. What needs to be continually discussed is how Nigeria is going to unlock that potential for economic development and how much of that potential will be unlocked by women and for women.”

“For us at AXA Mansard, we are aware that digital will play a major role in unlocking these current opportunities and Nigeria’s economic future. So, to ensure that women are equally represented in unlocking these future potentials, that’s why we have collaborated with SME 100 Africa to support them in developing the required skills”.

“Our choice of digital and financial literacy skills is deliberate. We understand the power of the duo. We understand that helping these SMEs with the skills to attract more customers will be a faster means to empower them.

“We see that they have amazing products and services, but they need to understand how to attract value for themselves by attracting the right customers, and you will agree with me that virtually all customer segments are online in one way or another today.

“So, if we can empower them with digital business skills, we would have helped them with the heavy lifting of trying to find and attract customers”. Ogunyooye explained.

According to him, AXA Mansard believes that for the world to experience progress truly, there must be an equitable distribution of creation and access to opportunities for men and women. This quest for balance informed the SHE for Shield initiative, a women-centred inclusive protection programme of AXA Mansard.

SHE for Shield is a group of initiatives designed for the Nigerian woman. The goal is to see them grow, add value, and help them mitigate risks at every step.

According to the company, research has found that access to health care is one of the most important things to Nigerian women, regardless of their economic segment. They desire to be financially independent, secure, and respected in the community.

 


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IFC Invests in New 4DX Ventures Fund to Support Tech Startups in Africa

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IFC is investing $10.5 million in a new fund by 4DX Ventures, a New York-based venture capital firm focused on supporting early-stage African technology companies across a broad set of sectors, including fintech, e-commerce, edtech, climate tech, and health tech.

IFC’s investment in 4DX Ventures Fund III will come from IFC’s $225 million venture capital platform, which was launched last year to strengthen emerging VC ecosystems and invest in early-stage companies in Africa, the Middle East, Central Asia, and Pakistan.

Africa is among the regions least served by venture capital, receiving just 2% of global venture deal volume in the third quarter of 2023. Access to capital on the continent has been further exacerbated by a slowdown in global venture capital investment.

Tech ecosystems are nascent, or even nonexistent, outside of more established markets such as Egypt, Kenya, Nigeria, Senegal, and South Africa.

“IFC and 4DX Ventures share the commitment to supporting tech entrepreneurs with innovations that will help Africa leapfrog in critical areas such as climate, health care, fintech, e-commerce, and education,” said Walter Baddoo, Co-Founder and General Partner of 4DX Ventures.

“We look forward to partnering with IFC to help promising tech startups build transformative businesses and realize sustainable development impact on the continent.”

4DX’s new fund will invest in companies with tech solutions that can improve productivity, efficiency and competitiveness across Africa. The firm’s first two funds invested in companies such as Egypt-based e-commerce platform MaxAB, an IFC portfolio company; Ghana-based health tech firm mPharma; and Kenya-based B2B e-commerce platform Wasoko, formerly known as Sokowatch.

“By supporting the development of tech ecosystems in emerging markets, IFC’s venture capital platform aims to improve access to key services, boost business competitiveness, and promote job creation through digital transformation,” said Mohamed Gouled, Vice President of Industries at IFC.

“Our investment in venture funds such as 4DX Ventures will help African entrepreneurs access more financing and resources they need to scale tech innovations and bolster sustainable growth across the continent.

In addition to providing capital, IFC will work with 4DX Ventures to implement their environmental and social management system.


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