United Bank for Africa (UBA) Plc has launched a new Aggregator Sales Structure for its RedPay POS and Agency Banking Network, as part of efforts targeted towards the advancement of its mission to deepen relationship with its network and most importantly, expand financial inclusion across Nigeria.

Oliver Alawuba. Group Managing Director/CEO, UBA

The newly launched multi benefit structure which offers partners a comprehensive value proposition, was unveiled at the inaugural UBA Aggregator Engagement Session, held at the Bank’s Head Office in Lagos on Tuesday.

The session themed, “POS-itive Impact: Connecting Agents, Merchants, and Customers,” served as a collaborative platform to align strategies for scaling the UBAMONI Agency Banking ecosystem and bringing together key industry aggregators, Point-of-Sale (POS) partners, and network managers,

Emmanuel Lamptey, executive director Designate, Digital Banking,  who spoke at the event, emphasised the critical role partnerships play in achieving national financial inclusion objectives.

“Today’s session marks a pivotal step in our collective journey to democratise financial access in Nigeria. By bringing together our valued aggregators and partners, we are strengthening the ecosystem that connects UBA directly to communities and ensuring that reliable financial services is within everyone’s reach,” he stated.

Emphasising the need for partnerships, Shamsideen Fashola, head, Digital Banking, UBA, who presented the keynote address, outlined the strategic imperative behind the new structure.

“Our aggregators are fundamental to realising our ambition of building Africa’s most impactful digital collections network. This structured framework is designed to be scalable, transparent, and mutually rewarding, empowering our partners with the technology and support needed to drive agent productivity as well as serve under-served communities effectively,” Fashola noted.

The platform delivers comprehensive value to agents and aggregators alike, featuring instant settlement, reliable transaction processing, real-time dashboard reporting, and a full suite of services including dispute and terminal management, analytics, card withdrawals, bill payments, and pay-with-transfer.

For aggregators specifically, the model provides a structured opportunity to on board and manage agents within UBA’s network…

access attractive incentives and commissions, as well as leverage a dedicated Aggregator Admin Portal for real-time visibility into agent performance and transactions

Adetunji Iyiola, head, Agency Banking, UBA, who noted the customer-centric focus of the initiative, emphasized that the structure fundamentally strengthens the collaboration between UBA, merchants, and agent

“This rollout is about creating superior value for every stakeholder, and enabling better service delivery to customers while ensuring our partners have the tools and incentives to thrive. It reinforces our promise to deliver essential banking services exactly where they are needed most”. he said.

With the introduction of the aggregator framework, UBA further cements its leadership in pioneering innovative digital financial solutions that bridge the inclusion gap and drive economic empowerment across the African continent.

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 45 million customers globally.

Operating in twenty African countries, 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.

The Nigeria Deposit Insurance Corporation (NDIC) has intensified debt recovery efforts involving failed banks and mobile money operators in a move aimed at accelerating payments to depositors. The Corporation is engaging its debt recovery agents to familiarise them with the enhanced tools and enforcement mechanisms contained in the NDIC Act 2023.

In recognition of the critical role of debt recovery, the NDIC Act 2023 significantly strengthened and expanded the powers of the Corporation. The objective, according to Thompson Oludare, managing director/chief executive, NDIC, is to enable quicker and more effective recoveries, thereby accelerating the reimbursement of depositors.

Represented by Olufemi Oladepo Kushimo, director of the Legal Department at NDIC, he welcomed participants to the sensitisation seminar for NDIC Debt Recovery Agents in Lagos, saying prompt reimbursement of depositors reinforces public confidence in the banking system and encourages continued savings within formal financial institutions.

“Your role is central to this objective. The success of liquidation dividend payments and depositor protection depends heavily on the efficiency and effectiveness of your recovery efforts. The enhanced provisions of the NDIC Act are designed to support you in this task, and this seminar aims to familiarise you with these expanded powers,” he said.

He explained that the Act now provides strengthened tools for recovering debts, including measures to address recalcitrant debtors and, where necessary, issues involving criminal infractions. Participants at the seminar are being guided on how to identify such infractions and how they may be referred to the appropriate agencies for prosecution, as well as the practical steps required for efficient debt recovery to support the payment of liquidation dividends.

“We currently have a number of banks in liquidation, including some that have been in that status for some time. In several instances, challenges such as protracted litigation, repeated adjournments and an entrenched culture of loan default have hindered effective recovery. These realities informed the strengthening of the Act and highlight the need for all stakeholders to be fully aligned and equipped to utilise these powers properly and responsibly in pursuit of the Corporation’s mandate,” Oludare said.

He added that the NDIC Act 2023 provides a comprehensive bouquet of tools for debt recovery, which the Corporation is prepared to deploy fully. “We intend to utilise every section, provision and enforcement mechanism available under the law. This includes pursuing parties at fault, not only to enhance recoveries, but also to serve as a deterrent and to sanitise the banking industry.

“Those responsible for bank failures must be held accountable. We are prepared to apply every relevant provision of the Act to ensure effective recovery and to bring culpable parties to justice,” he said.

Patricia Okosun, director of the Asset Management Department, said the revised Act has strengthened the overall framework for debt recovery and enhanced the mechanisms through which outstanding obligations are pursued.

“We are engaging debt recovery agents to familiarise them with the additional tools now available under the revised Act, beyond what they previously relied on. The essence of this engagement is to sensitise them to the new provisions that will support and improve their work. We are confident that these enhanced powers will enable us to recover more debts, and more efficiently, so that we can reimburse depositors,” she said.

She added that the Corporation remains optimistic about recovery prospects. “That optimism is precisely why we are equipping recovery agents with strengthened legal tools. Our objective is to recover as much as possible.

“Naturally, the earlier the recovery, the better, as it enables quicker reimbursement of depositors. However, given the realities of litigation and related processes, it is not possible to fix a definite timeline. What remains clear is that speed and efficiency are priorities,” Okosun said.

Unity Bank Plc has announced winners in the 27th edition of its flagship Entrepreneurship Development Initiative, also known as Corpreneurship Challenge, following the conclusion of Business Pitch at the Batch C, Stream 2 edition of the National Youth Service Corps (NYSC) orientation programme held across 10 states of the federation.

Unity Bank

Notably, Corps Members who graduated from Obafemi Awolowo University (OAU), University of Nigeria, Nsukka (UNN), The Polytechnic, Ibadan, amongst several tertiary institutions, emerged from the latest round of the Corpreneurship Challenge business pitch. Participants pitched business ideas across diverse sectors such as fashion, agribusiness, footwear production, and services.

At the Lagos State NYSC Orientation Camp, Awolumate Fawaz Babatunde, a Civil Engineering graduate of The Polytechnic, Ibadan, emerged the overall winner after pitching a fashion design business, clinching the N800,000 grand prize. Ugwoke Daniel Ifechukwu, a graduate of the University of Nigeria, Nsukka, emerged first runner-up to receive N500,000.

In Rivers State, Abdur-Razaq Sayfullah Adebola, a graduate of Obafemi Awolowo University, topped the competition at the Nonwa Gbam Tai NYSC Orientation Camp with a footwear-making business plan. Meanwhile, Olatunde Esther Funmilayo of Olabisi Onabanjo University emerged as the winner at the Kwara State NYSC Orientation Camp after impressing judges with her deodorant production and services pitch.

More winners emerged from Abuja, Niger, Adamawa, Jigawa, Plateau, Kaduna, and Delta States, further expanding the geographical reach and impact of the initiative.

Speaking on the latest edition of the programme, Mrs. Adenike Abimbola, Divisional Head, Retail, SME & E-Business at Unity Bank Plc, said the Corpreneurship Challenge continues to reflect the Bank’s commitment to youth empowerment and enterprise development.

“The Corpreneurship Challenge has been driven by our commitment to boosting entrepreneurship among young people, especially fresh graduates. At Unity Bank, we recognise that many young Nigerians possess viable business ideas but lack the initial capital and support to bring them to life. The Corpreneurship Challenge was designed to bridge that gap by providing financial backing, mentorship, and confidence to fresh graduates at a critical stage of their lives,” she said.

She added that the quality of ideas presented by corps members across states underscores the growing entrepreneurial appetite among Nigerian youths.

“What we see every edition is innovation, resilience, and a strong desire among young graduates to create value and jobs. By supporting them early, we are not only helping individuals, but also contributing to the growth of the SME ecosystem and the broader economy,” Abimbola noted.

Over the years, the Unity Bank Corpreneurship Challenge has become a key feature of the NYSC orientation programme, delivered in partnership with the NYSC Skill Acquisition and Entrepreneurship Development (SAED) initiative. Since its inception, the programme has produced 638 young entrepreneurs nationwide, offering grants of up to N300 million to help corps members kick-start or scale their businesses.

The initiative aligns with the Federal Government’s drive to promote entrepreneurship and self-employment among graduates, particularly amid the shrinking availability of white-collar jobs.

Unity Bank said it remains committed to expanding the reach of the Corpreneurship Challenge and deepening its support for young entrepreneurs as part of its broader strategy to drive financial inclusion, job creation, and sustainable economic growth.