E-Financial
UBA Foundation Donates Incubators to UNTH, AKTH
UBA Foundation, the corporate social platform of United Bank for Africa (UBA) Plc has reaffirmed its commitment to the development of Nigeria’s health sector especially in the area of improving and contributing to the reduction of infant mortality rate in the country.
The UBA Foundation recently donated incubators to the University of Nigeria Teaching Hospital (UNTH), Enugu and Aminu Kano Teaching Hospital (AKTH), Kano, as part of the campaign by the Foundation to give as many premature babies as possible a chance of living through the donation of modern Incubators to teaching hospitals across the country.
Ijeoma Aso, managing director/CEO of the Foundation said that UBA places high priority to the health sector and that the donation to the hospitals was in fulfillment of the foundation’s key objective of improving the lives and well being of the communities where UBA has presence.
The donation of the Incubators, she said, “is an ongoing project of the foundation with more teaching hospitals across the country lined up to benefit from the gesture.”
Speaking at separate presentation ceremonies held in Enugu and Kano, chief medical directors (CMDs) of both institutions respectively described UBA Foundation’s donation as a laudable and innovative gesture.
”Some of our old Incubators in the hospital were purchased as far back as 1972, which is 41 years ago, even some of our consultants here were not born then. So you can see why we are very grateful to UBA for this wonderful gesture” said Obinna Onodugo, acting medical director of UNTH, Enugu, while receiving the Incubators.
He commended UBA for the kind gesture, noting that this would go a long way in increasing the survival chances of babies born with health challenges requiring the use of Incubators.
His counterpart at AKTH, Professor Aminu Zakari Mohammed, described the donation as timely and would go a long way in reducing infant mortality in the country.
“We assure UBA that this gesture will be well utilized as we have a culture of maintaining our equipment” he said.
Dr. Mohammed Sani Mijinyawa, chairman, Medical Advisory Committee AKTH in his brief remarks said that the donation of incubators to the teaching hospital is the first of its kind by any corporate body or financial institution while Alhaji Mohammed Suleiman, director, Administration, said that this gesture will outlive the bank as whoever helps save a life, has helped save humanity.
Ifeoma Emodi, a Professor, head of department of Pediatrics, UNTH expressed appreciation to the bank emphasizing that the donation would help in fostering a mutually beneficial relationship between the hospital and the bank.
Casmir Molokwu, regional bank head, Enugu, UBA Plc, who led the delegation to the UNTH Enugu, emphasized UBA’s commitment to doing business in a sustainable way by supporting the communities where it operates.
Similarly, Abubakar Bello, directorate head, Far North Bank, who said that he has been a beneficiary of the AKTH’s expertise in managing the health of his twin babies at infancy through the Special Care Baby Unit of the hospital, noted that UBA understands clearly what it means to partner and support health institutions across the country including AKTH.
He said the bank will continue to partner and support AKTH in any way possible.
The highlight of the visit was when the UBA delegation was taken round the ‘new born units’ to see some of newborn premature babies whose lives depend on the incubators.
With the new incubators donated by UBA foundation, many more of the babies born “premature” now have a higher chance of survival.
UBA Foundation is the corporate Social Responsibility arm of UBA meeting special needs of various communities where it operates across Africa by giving back to society in the area of Education, Health, Environment and Economic Empowerment.
Union Bank of Nigeria has reaffirmed its status as a going concern with stable operations, responding to media queries sparked by Central Bank Governor Olayemi Cardoso’s remarks at the 304th Monetary Policy Committee (MPC) briefing.
Union Bank
Cardoso clarified that banks under regulatory intervention face unique recapitalisation timelines due to their circumstances, distinct from others with more preparation time.
Union Bank’s Chief Brand and Marketing Officer, Mrs. Olufunmilola Aluko, said the Governor’s comments align with the bank’s messaging.
“The Governor’s remarks reinforce what has consistently been our position. Union Bank remains under strong regulatory oversight with a resilient franchise, stable operations, and uninterrupted service delivery,” Aluko stated.
She stressed that all customer deposits remain safe and secure, with the bank operating transparently within the regulatory framework and collaborating with the CBN on recapitalisation.
Union Bank pledged updates as engagements progress, prioritising customer protection, financial stability, and service continuity amid the system-wide strengthening programme.
Flutterwave has transformed from a modest Lagos venture into one of Africa’s most valuable fintech firms, processing billions in transactions yearly across 30+ countries and 150+ currencies.
Flutterwave
Founded in 2016 by Iyinoluwa Aboyeji, Olugbenga “GB” Agboola, and Adeleke Adekoya, it tackled Africa’s fragmented payments—siloed banks, mobile money gaps, and unreliable cross-border flows—with a unified API for seamless collections, payouts, and settlements.
Founding Vision
The trio spotted the pain: Aboyeji’s Andela faced border delays; Agboola drew from PayPal/Google; Adekoya handled compliance. Early wins included Uber Nigeria payouts from a Lekki co-working space, proving scalability amid lean ops.
Growth Milestones
2017–2020: $10M seed/Series A fueled West Africa push; Agboola took CEO helm post-Aboyeji; COVID boosted e-commerce volumes.
2021–2022: Unicorn at $1B+ (Series C, $170M); $3B+ valuation (Series D, $250M); partnerships with Microsoft, Uber; Send App for US diaspora.
2025–2026: Profitability focus yields better margins; 34 US licenses; Mono acquisition ($25–40M) bolsters open banking.
Challenges Overcome
Regulatory hurdles hit: Kenya 2022 freeze (cleared); Nigeria fraud claims (resolved, controls enhanced); culture probes led to reforms with ex-Mastercard/Stripe hires. These underscore multi-jurisdiction risks like FX curbs and cyber threats.
Nigeria’s Fintech Role
Flutterwave anchors alongside Paystack (Stripe-owned), Moniepoint, amid CBN cash curbs and AfCFTA trade boosts. Dual HQ in Lagos/SF eyes IPO post-profitability, cementing it as Africa’s payments backbone.
Chartered Institute of Bankers of Nigeria (CIBN) has pledged its full support to the Association of Corporate and Marketing Professionals in Banks (ACAMB) following a high-level strategic meeting between the leadership of both bodies.
New ACAMB Leadership
The high profile meeting, which took place on Tuesday at the CIBN Building, Lagos, served as a formal introduction of the new ACAMB Executive Committee to the CIBN leadership and marked the beginning of a renewed collaborative alliance.
Leading a delegation of the newly inaugurated ACAMB EXCO and Board of Trustees, the President, Jide Sipe, described the visit as a crucial first step in his tenure, aimed at contributing significantly in giving flight to his vision and that of ACAMB.”
“When we assumed office, one of the first things we agreed on was the need to visit key stakeholders”
“However, before reaching out more broadly, we felt it was important to begin with our primary constituency and core stakeholders. We want them to understand the direction we are taking and to support the work we are doing, so that ACAMB can achieve greater success than it has in the past”
“We couldn’t have properly started our tenure without this very important meeting with the CIBN,” Sipe stated
Sipe introduced the newly constituted ACAMB Exco, which includes, the 2nd Vice President, Morolake Phillip-Ladipo; General Secretary, Olugbenga Owootomo, Assistant General Secretary, Ademola Adeshola; Publicity Secretary, Abiodun Coker, and Executive Secretary, Fadekemi Ajakaiye
During his address, Sipe unveiled an ambitious roadmap for the association, highlighting a new direction focused on youth engagement, professional development, and industry advocacy.
Responding, the CIBN President, Professor Pius Deji Olanrewaju, who warmly received the ACAMB team, commended their forward-thinking vision as he noted that, the association would be focusing on critical areas such as reputational management, sustainable corporate practices, and governance reforms
Olarenwaju also commended ACAMB’s collaboration with CIBN in information management, saying it had raised standards across Nigeria’s banking sector.
“ACAMB’s support has given CIBN and the banking sector brand equity,” he said, praising the association’s record in reputation management.
He recalled ACAMB’s role in addressing crises within the sector, describing the partnership as strategic and beneficial.
He further pledged support for ACAMB’s 30th anniversary in September 2026, its AGM, and other programmes, including fundraising initiatives.
Olarenwaju also promised backing for ACAMB’s capability development and undergraduate mentorship schemes.
“I want to assure you that everything you have presented today has been clearly noted and will be acted upon”
“We are fully committed to working closely with you so as to translate these discussions and vision into measurable progress. Our shared goal is to strengthen the sector, protect its reputation, and enhance its public image in a meaningful and lasting way”
“This meeting discussed various initiatives and reforms crucial for the future of our industry, including the need for continuous training and adaptation to new programs,” Prof. Olanrewaju said.
The meeting concluded on a high note, with both parties expressing gratitude and a firm commitment to deepening their collaboration for the advancement of the banking industry in Nigeria.
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