E-Financial
Four African Presidents, Others Grace UBA 75th Anniversary @ UNGA79
His Excellency Carlos Vila Nova; President of São Tomé and Principe; His Excellency Julius Maada Bio President of Sierra Leone; Brice Oligui Nguema President of Gabon; His Excellency; His Excellency Nana Akufo-Addo, President of Ghana; and the Queen Maxima of the Netherlands and others have commemorated the 40th anniversary of the United Bank for Africa (UBA) America and the 75 years of UBA Group.
The United Bank for Africa held a Cocktail Reception at the sidelines of the ongoing 79th United Nations General Assembly (UNGA79) in New York City.
Alhaji Aliko Dangote, Africa’s richest person; Governor Mohammed Umaru Baggo, Caleb Mutfwang, Governor of Niger; Governor of Plateau; Madam Uju Kennedy-Ohanenye, Minister of Women Affairs; and Okey Benedict Oramah, President of the African Export-Import Bank (Afreximbank,; as well as Wiebe Boer, CEO All On.
UBA team had the likes of Oliver Alawuba, Group Managing Director, UBA Group; Biola Bawuah, CEO UBA Africa; Sola Yomi Ajayi, CEO UBA International; and Bolla Atta, UBA Group Director for Corporate Communications, and several others.
At the event themed: Evening of Influence and Impact, Nollywood veteran actress, Genevieve Nnaji; Founder of Ebony Life Group, Mo Abudu; Chairman of MTN Nigeria Plc, Dr Ernest Ndukwe; and Chief Corporate Services Officer, MTN Nigeria Communications, Tobe Okigbo, amongst several others including Music Superstar, Davido, who had guests dancing to hits upon hits were in attendance.
Tony Elumelu, Group Chairman, UBA, who led the charge of stepping up Africa on the global stage at the UBA Cocktail event was targeted at not just connecting global leaders but also shaping the future of Africa and the world at large.
The bank, earlier at UNGA, had interfaced with global leaders and policymakers on the need to collectively foster progress, drive and invest in impactful change for Africa’s future, and put the continent on the global state.
Elumelu noted there is a better way to invest in Africa for a sustainable future that creates value for all.
This again was reiterated at the high-level conservations Elumelu held with his team and Jamaica’s Prime Minister, Hon. Andrew Holness on the need to focus on enhancing partnerships between the Caribbean and Africa.
“The young people in the Caribbean, just as those in Africa, need the same economic opportunity and hope as their peers elsewhere in the world. They are resilient, creative, hardworking and innovative. We must prioritise and empower our young entrepreneurs because they are the lifeblood of our regions,” he said.
Also at the UNGA outing, the group chairman joined former US President, Bill Clinton on the Clinton Global Initiative Executive Roundtable lunch on “Speed and Scale: Achieving Climate Targets”, which emphasised the urgent need for innovative solutions to climate goals while fostering sustainable development.
At the World Food Programme (WFP) reception, Elumelu joined WFP Executive Director, Cindy McCain, to call for urgent collaboration to tackle the global hunger crisis.
While emphasising our shared responsibility to support the 733 million people facing food insecurity, Elumelu said business success cannot be realised if people are hungry.
Also at #UNGA79, Elumelu CFR met with President Brice Oligui Nguema of Gabon, where he called for partnership in scaling opportunities, fueling innovation, and unlocking the potential of Africa’s next generation of entrepreneurs.
According to Elumelu, the outing at UNGA was targeted at convening global leaders to talk about the three things that are important to him- “transformative economic growth for Africa so that we can eradicate poverty and create prosperity for all; Making sure we create employment for our young ones. We need to stop wasting our talents on the continent; and thirdly, talk about equitable energy transition that is beneficial for Africa”.
E-Financial
First Securities Brokers Empowers Nigerians to Trade in the Stock Market with the Launch of FirstInvest App
First Securities Brokers, one of Nigeria’s leading stockbroking firms and a subsidiary of FirstHoldCo Plc, is pleased to announce the official launch of the FirstInvest App, an innovative mobile investment platform designed to make stock market investing simpler, faster, and more accessible for Nigerians.
The FirstInvest App offers investors a seamless digital experience, enabling them to open and manage their investment accounts, monitor their portfolios, and trade equities listed on the Nigerian Exchange (NGX) directly from their mobile devices.
Designed with both new and experienced investors in mind, the platform combines convenience, security, and ease of use to help users make informed investment decisions anytime and anywhere.
As Nigeria continues to embrace digital financial services, the FirstInvest App reinforces First Securities Brokers’ commitment to driving financial inclusion and expanding access to wealth creation opportunities through technology.
Speaking on the launch, Fiona Ahmed Ahimie, Managing Director of First Securities Brokers, said: “The launch of the FirstInvest App represents another significant milestone in our digital transformation journey and our commitment to delivering innovative investment solutions to our clients.
“We understand that today’s investors value convenience, speed, and accessibility. FirstInvest has been developed to provide exactly that: a secure and intuitive platform that empowers individuals to participate confidently in the capital market from wherever they are.”
She added: “Our goal is to remove the traditional barriers associated with investing by placing the power of timely investment and decision making in the stock market directly in the hands of Nigerians. Whether you are taking your first investment step, actively managing your portfolio or just evaluating your investment, FirstInvest provides the tools and flexibility needed to support your financial aspirations.”
The app delivers a range of features designed to enhance your investing experience, including: Secure digital account opening and onboarding, Real-time access to investment portfolios, Buy and sell Nigerian equities with ease, User-friendly trading interface, Secure transaction processing, Convenient access to market information and investment opportunities.
The launch of FirstInvest aligns with First Securities Brokers’ broader strategy of leveraging technology to improve customer experience while supporting the growth of retail participation in Nigeria’s capital market.
First Securities Brokers remains committed to providing trusted investment advisory services, innovative financial solutions, and exceptional customer service, helping clients build and preserve wealth across generations. The FirstInvest App is now available for download on the Google Play Store and the Apple App Store.
The next currency crisis could accelerate the shift of the roughly $315 billion global stablecoin market into a digital-dollar alternative for citizens in emerging economies, notably in regions like sub-Saharan Africa and Latin America.
As local fiat currencies face devaluation and high inflation, citizens and businesses are increasingly utilizing smartphone-based stablecoins (such as USDT and USDC) as hedges and primary mediums of exchange.
According to the International Monetary Fund (IMF), the rapid adoption of dollar-linked digital assets—particularly in countries heavily affected by inflation like Nigeria—poses significant risks to monetary sovereignty.
With up to 95% of surveyed individuals in some African markets preferring to receive payments in stablecoins over local fiat, the rising volume of these decentralized, cross-border channels weakens domestic currency demand and dilutes the effectiveness of local monetary policy.
IMF observed in a report titled “Stablecoins in Nigeria: A Growing Cross-Border Channel” noted that the widespread use of stablecoins poses risks to monetary sovereignty, particularly as more individuals and businesses turn to digital dollar-linked assets for savings and transactions.
Nodding in agreement is Future Investment Initiative Institute (FII Institute), a non-profit organisation run by the Public Investment Fund, Saudi Arabia’s main sovereign wealth fund.
FII Institute said that central banks face structural challenges.
And according to the institute, when citizens move savings out of national banks and into private digital wallets, conventional capital controls lose their grip.
Institutions like the Bank for International Settlements warn that interest-bearing stablecoins compete directly with domestic-currency deposits, complicating financial oversight and making smartphone-based transfers incredibly difficult for authorities to monitor.
In Nigeria, Naira depreciation has pushed users toward dollar-stablecoins, according to report by Gino Matos in cryptoslate.com.
A stablecoin is a type of cryptocurrency designed to maintain a steady value by pegging its price to a reserve asset, such as a fiat currency (e.g., the U.S. dollar) or a commodity (e.g., gold).
They act as a bridge between traditional money and the digital asset world, providing the speed of crypto without the extreme price swings of assets like Bitcoin.
Federal government has reopened three federal government of Nigeria (FGN) bond issues valued at N1.2 trillion for subscription as part of efforts to raise long-term funds from the domestic debt market.
The Debt Management Office (DMO), which announced the offer on Tuesday, said the three reopened bond issues are each valued at N400 billion.
According to the DMO, the first offer is the January 2035 FGN Bond, a 10-year reopening, carrying an interest rate of 22.60 per cent per annum.
The second is the May 2028 FGN Bond, a 15-year reopening, with a coupon rate of 15.45 per cent per annum, while the third is the June 2037 FGN Bond, a 20-year reopening, also valued at N400 billion.
The office said the bond auction is scheduled for July 20, while successful subscriptions will be settled on July 22.
It explained that the bonds are offered at N1,000 per unit, with a minimum subscription of N50 million and additional investments in multiples of N1,000.
For the reopened bonds, the DMO said successful bidders would pay a price based on the yield-to-maturity that clears the auction, in addition to any accrued interest on the instruments.
Interest on the bonds will be paid every six months, while the principal will be repaid in full on the respective maturity dates.
The DMO reaffirmed that FGN bonds are backed by the full faith and credit of the Federal Government and constitute obligations chargeable on the general assets of the federation.
It added that the bonds qualify as trustee investment securities under the Trustee Investment Act and enjoy tax exemptions for eligible investors, including pension funds, under the Company Income Tax Act and Personal Income Tax Act.
The bonds are listed on the Nigerian Exchange (NGX) and FMDQ Securities Exchange and also qualify as liquid assets for banks in computing their liquidity ratios.
FGN bonds are long-term debt instruments through which investors lend money to the Federal Government in exchange for periodic interest payments and repayment of the principal at maturity.
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