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UBA Foundation Donates Incubators to UNTH, AKTH



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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.

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SEC, EFCC Partner Against Ponzi Schemes



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The Securities and Exchange Commission, SEC, and the Economic and Financial Crimes Commission, EFCC, are committed to strengthening the partnership between the agencies with a view to tackling the menace of Ponzi schemes in the country.

This commitment was restated during a courtesy visit by Mohammed Danladi, the Kano Zonal Head of the Securities and Exchange Commission, to his EFCC counterpart, Sanusi Aliyu Mohammed on Tuesday.

The SEC Zonal Head described his visit to EFCC as an effort to solidify the already existing relationship between EFCC and SEC.

“This visit is nothing more than to solidify the existing relationship between EFCC and SEC which dates back to the inception of EFCC. We are here to renew that relationship, foster it and fight the common enemy together”, he said.

Mr. Danladi expressed concern about his Commission’s challenges dealing with operators of wonder banks which are on the rise especially in the northern part of the country.

According to him, “the operators of the illegal scheme are taking advantage of the financial illiteracy of the public to defraud them in the name of investment”.

He added that most of the Ponzi scheme operators avoid SEC registration because they know they would be monitored.

In his response, Sanusi Mohammed, the EFCC Zonal Head, suggested a joint operation between the two agencies to curtail the spread of Ponzi schemes and prevent the public from falling victims of the scam.

Mohammed further assured the SEC of the Commission’s continued support as the two agencies share common objectives to fight financial crimes. “As long as the mandate of EFCC and that of SEC remain, you cannot separate the SEC and EFCC. We will continue to work together institutionally, “he said.

“Where the SEC’s main concern is to make sure investors are protected from losing their investments, the EFCC’s concern is the protection of the general public from the activities of fraudsters, which are one and the same,” the Zonal Head added.

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Oreoluwa Adesakin, First Bank Staff Jailed for Stealing N49m



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Oreoluwa Adesakin, a staff of First Bank of Nigeria Limited, has been convicted for fraud and handed a total term of 98 years in prison by Justice Muniru Olagunju of the Oyo State High Court.

Oreoluwa Adesakin, First Bank Staff Jailed for Stealing N49m

Oreoluwa Adesakin

But she will spend just seven years in jail.

Adesakin was found to have committed financial fraud against First Bank to the tune of N49,320,652.32.

She also stole $368,203.00 belonging to the bank, which she converted to her personal use.

Adesakin, before she was busted by the bank and sacked, was its Money Transfer Operator, saddled with the responsibility of effecting payments through Western Union Money Transfer and MoneyGram platforms.

The convict was prosecuted by the Ibadan Zonal Office of the Economic and Financial Crimes Commission, (EFCC), on a 14-count charge, bordering on stealing, forgery and fraudulent accounting.

One of the counts read: “That you Oreoluwa Adesakin sometime between the months of May, 2013 and November, 2013, at Ibadan within the Ibadan Judicial Division, whilst being a staff of First Bank PLC stole the sum of N25,974,116.13 (Twenty Five Million, Nine Hundred and Seventy Four Thousand, One Hundred and Sixteen Naira, Thirteen Kobo) from First Bank PLC MoneyGram Payment Naira Account, property of First bank PLC.”

She pleaded not guilty to the charge.

Usman Murtala, prosecution counsel, presented every vital document and witnesses which nailed the convict.

Justice Olagunju noted that the EFCC presented incontrovertible evidence against the convict and did a diligent investigation and prosecution.

He thus pronounced Adesakin guilty of all the counts.

He sentenced her to seven years in prison without an option of fine on each of the 14 counts. The sentencing will run concurrently.

Apart from the jail term, the convict is also to restitute the First Bank, through the EFCC, all the money she stole.

The convict was arraigned April 4, 2014 by the EFCC following a conclusion of investigations against her which arose from a petition from her former employer, dated December 18, 2013.

The bank alleged in the petition that Adesakin fraudulently manipulated its Moneygram accounting and withdrew N49,320,652.32 and another $368,203.00 for herself, which the bank only uncovered while reviewing its internal account.

The EFCC was also able to establish that the convict used part of the proceeds of her crime to acquire landed properties in different parts of Oyo State.

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CIBN Recertifies NDIC Academy as Bankers Training Provider



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Council of the Chartered Institute of Bankers of Nigeria (CIBN) has recertified the Nigeria Deposit Insurance Corporation (NDIC) Academy as a training service provider for various professionals in the banking industry.

CIBN Recertifies NDIC Academy as Bankers Training Provider

The council also renewed the academy’s accreditation for the next three years, effective from June 2020.

Mr. Saubana Ogunpola, head of the five-man CIBN Accreditation Team, said the recertification followed the exemplary performance of the NDIC Academy since it initial accreditation in 2016 and the satisfaction of the stringent conditions for the recertification.

The recertification, according to Mr. Saubana Ogunpola, Head of the five-man CIBN Accreditation Team, followed the exemplary performance of the NDIC Academy since its initial accreditation in 2016 and the satisfaction of the stringent conditions for the recertification.

He noted that there would be periodic monitoring to ensure that quality standards are being adhered to.

Mr Ogunpola commended the NDIC for its consistent efforts toward meeting the high standards for the benefit of the banking industry and the larger economy.

He described the NDIC’s readiness to subject itself to the rigors of the Institute’s accreditation process as a testimony of its Management’s commitment to capacity development for all stakeholders.

In his reaction, Mr. Umaru Ibrahim, managing director/chief executive, NDIC, described the recertification as another milestone in the NDIC efforts to consolidate the position of the Academy as a center of academic excellence in the nation’s banking industry and on deposit insurance in Africa.

Mr Ibrahim disclosed that the Academy had so far trained a total of 13,368 participants cutting across the NDIC’s workforce.

“It had also trained 135 participants from relevant stakeholders, including the EFCC, Security and Exchange Commission (SEC), Assets Management Company of Nigeria (AMCON), National Pension Commission (PENCOM) and the Nigeria Financial Intelligence Unit (NFIU).

“On the international front, 19 employees from sister deposit insurance agencies in other African countries had benefitted from the expertise of the Academy,” the managing director noted.

He stated that the NDIC Academy has been designated to host the African Centre for Studies on Deposit Insurance System (ACSDIS) recently established by the Africa Regional Committee (ARC) of the International Association of Deposit Insurance (IADI).

Mr. Ibrahim reiterated that with the recertification, the NDIC Academy is positioned to fulfill the NDIC’s goal of serving as a center of excellence for capacity building on Deposit Insurance Scheme (DIS) for countries in Sub-Saharan Africa.

He added that the NDIC prides itself on establishing the highest standards of professionalism and competency among its staff through the NDIC Academy and other human capital development initiatives, including the Chartered Banker/MBA program at Bangor University, Wales in partnership with the CIBN.

The NDIC boss emphasized that the Corporation places high premium on capacity building and continuous high level training of its staff to achieve the NDIC mandate of deposit guarantee, bank supervision, bank distress resolution and liquidation.

“The ultimate goal would be to enhance depositor protection and public confidence in the nation’s banking system,” he said.

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