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.
Federal Capital Territory High Court has ordered Stanbic IBTC Bank Limited to pay N15 million in damages to two former customers after finding that the bank unlawfully retained and processed their personal information after they had terminated their banking relationship.
In a judgment delivered on July 29, Justice Kayode Agunloye also directed the bank to erase all personal data belonging to the claimants that it is not legally required to retain and restrained it from further processing or using such information without lawful authority or the customers’ consent.
The court held that the bank breached the Nigeria Data Protection Act (NDPA) 2023, the claimants’ constitutional right to privacy under Section 37 of the 1999 Constitution (as amended), and provisions of the Federal Competition and Consumer Protection Act (FCCPA).
The suit, marked CV/2190/25, was filed by David Ogundipe and Salami Tolulope Ibrahim, who argued that Stanbic IBTC continued to process their personal data for marketing purposes even after they had closed their corporate account with the bank.
According to the claimants, the account was shut following unresolved issues with the bank.
Despite the closure, they alleged that Stanbic IBTC continued sending promotional emails and text messages to their personal and corporate email addresses as well as their telephone numbers.
The customers said their solicitors later wrote to the bank demanding that all marketing communications cease and that their personal data should no longer be processed for promotional purposes.
Although the bank reportedly acknowledged the request and assured them that the messages would stop, the unsolicited communications allegedly continued, prompting them to seek judicial intervention.
In his ruling, Justice Agunloye held that once the banking relationship had ended and the customers had withdrawn their consent, the bank no longer had any lawful basis to process their personal data for marketing activities.
The judge ruled that the continued use of the claimants’ information amounted to an infringement of their constitutional right to privacy and constituted an unfair trade practice under the FCCPA.
The court consequently ordered Stanbic IBTC to delete all personal information relating to the claimants that it is not legally required to retain and to cease every form of data processing except where permitted by law or regulatory obligations.
Justice Agunloye also granted a perpetual injunction restraining the bank, its officers and agents from retaining, processing, transmitting or using the claimants’ personal data for marketing, promotional or any other unauthorised purpose.
While the claimants sought N250 million as damages, the court awarded N15 million as general damages, describing the amount as adequate compensation for the persistent unsolicited communications, the bank’s failure to honour requests for data erasure and the violation of the customers’ privacy rights.
The bank was further ordered to pay N500,000 as the cost of the suit, while the claim for N7 million as litigation expenses was dismissed for lack of sufficient proof.
Justice Agunloye directed that all monetary awards would attract 10 per cent post-judgment interest annually until fully settled.
However, the court declined to order the complete deletion of every record relating to the claimants, holding that banks remain under statutory obligations to retain certain customer records in compliance with financial regulations and anti-money laundering laws.
Reacting to the verdict, counsel to the claimants, O.E. Oluwadamisi of Earnest Attorneys LP, described the decision as a landmark judgment for data protection in Nigeria.
He said the ruling reinforces the mandatory nature of compliance with the Nigeria Data Protection Act and makes it clear that organisations cannot continue processing customers’ personal information after consent has been withdrawn unless authorised by law.
One of the successful claimants, David Ogundipe, welcomed the judgment, saying it represented a victory not only for the litigants but also for millions of Nigerians whose personal information is held by corporate organisations.
He expressed hope that the ruling would encourage institutions across the country to strengthen compliance with data protection laws and place greater respect on customers’ privacy rights.
The number of Bank Verification Numbers (BVNs) on the Nigerian banking industry’s fraud watchlist reached 13,117, according to the Central Bank of Nigeria (CBN).
This is coming as banks strengthen efforts to detect and prevent financial crimes.
According to the CBN’s 2025 Annual Report and Statement of Accounts, the number of BVNs on the banking industry’s fraud watchlist increased from 9,476 in 2024 to 13,117 in 2025. This represents a 38.4 per cent increase.
The apex bank explained that commercial banks, including Access Bank, Zenith Bank, United Bank for Africa (UBA), and other financial institutions, added 3,641 new BVNs to the watchlist during the year.
The report said the increase reflects stronger fraud monitoring, improved compliance, better risk management, and enhanced systems for detecting suspicious transactions.
It added that the higher number does not necessarily mean fraud has increased, but shows banks are becoming more active in identifying and blocking suspicious activities.
The report also revealed that consumer lending declined for the first time since 2019.
Outstanding consumer credit dropped by 19.89 per cent, falling from N4.72 trillion in 2024 to N3.78 trillion in 2025.
The CBN attributed the decline to high interest rates, which made borrowing more expensive for many Nigerians.
Personal loans recorded the biggest drop, falling to N1.85 trillion.
However, retail loans rose by 63.77 per cent to N1.94 trillion, making them the largest category of consumer credit for the first time in several years.
Central Bank of Nigeria (CBN), has ordered banks to refund a total N19.12 billion to customers for illegal deductions and poor complaint handling.
This is coming as bank customers lodged 23,129 complaints against financial institutions in 2025, representing 11 per cent increase over the previous year.
The apex bank also imposed N1.69 billion in penalties on financial institutions for regulatory breaches, poor complaint handling and failure to comply with its directives, according to its 2025 Annual Report.
The CBN attributed the increase in complaints to growing public confidence in its consumer protection framework rather than a deterioration in banking services.
The report stated: “The Bank received a total of 23,129 complaints from consumers of financial services in 2025, a rise of 10.53 per cent above the 20,925 in 2024. The trend reflected increased awareness and improved confidence in the Bank’s consumer complaint resolution process.”
The apex bank added: “A total of 18,824 complaints were resolved, indicating a 9.36 per cent increase over the 17,213 complaints resolved in 2024.”
On the value of disputed transactions, the CBN said: “Total claims in local currency increased to N40.61 billion from N17.13 billion in 2024. Foreign currency claims also rose, reaching $344.2 million compared with $1.06 million in the preceding year.”
According to the report, “Based on the resolved complaints, the sums of N19.12 billion and $329.3 million were refunded in 2025, compared with N9.66 billion and $0.67 million in 2024.”
The CBN said it strengthened enforcement against erring financial institutions during the year.
It stated: “During the review period, the Bank imposed 11 penalties on financial institutions totalling N1.26 billion for infractions ranging from regulatory breaches and failure to respond to regulatory queries.”
The report further disclosed: “In addition, the Bank imposed 21 penalties on financial institutions to the tune of N430 million for infractions ranging from delays in resolving customer complaints to failure to comply with the Bank’s directives.”
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