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Uzoka, GMD UBA Wins Coveted Zik Leadership Award

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Kennedy Uzoka, GMD, UBA
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Kennedy Uzoka, group managing director/chief executive officer, United Bank for Africa (UBA) Plc, has been announced as a winner of the 2019 Zik Award for Professional Leadership.

Uzoka, GMD UBA Wins Coveted Zik Leadership Award

Kennedy Uzoka, GMD, UBA

Uzoka clinched the much-coveted award alongside Prof Umar Danbatta, executive vice chairman/chief executive officer at the Nigerian Communications Commission (NCC).

The Zik Leadership awards is organised by the Public Policy Research and Analysis Centre (PPRAC) and was instituted 25 years ago, in 1995, in honour of Late Dr. Nnamdi Azikwe,  first President of Nigeria, primarily to encourage and nurture leadership on the African Continent and in the Diaspora.

The UBA GMD and others were announced winners in a letter signed by Professor Pat Utomi, member Advisory Board, PPRAC, and Emeka Obasi, executive secretary, which stated that Uzoka was chosen as a result of his outstanding contributions to the development and growth of the Banking and Financial Services Industry and unblemished record of service as a banker of international repute.

The letter read, “The GMD/CEO, of Africa’s global bank, UBA Plc, Mr Kennedy Uzoka is a banker’s banker and an astute player in the Nigerian financial services sector. He has consistently led the Bank to set a year-on-year track record of profitability, wealth creation and innovative financial products across its operations in the African continent despite global economic challenges.

Continuing, it said, “Kennedy Uzoka continues to lead his team in chalking newer and higher credits by the day. Not even the current challenge of COVID-19 has been a dampener as the bank under his watch continues to scale new frontiers and post assuring results.”

Apart from Uzoka and Danbatta, other winners in various categories of public service, good governance, business, and professional leadership included Senate President Ahmed Lawan; Borno Governor, Professor Babagana Umara Zulum; Delta State Governor, Ifeanyi Okowa; Oyo State Governor, Seyi Makinde; SGF, Boss Mustapha; Dr. Stella Okolli amongst others.

The PPRAC which is celebrating the silver jubilee anniversary of the Zik prize in leadership awards, pointed out that in the last 25 years, some other notable leaders have been recipients of the prize such as; President J.J. Rawlings, President Nwalimu Julius Nyerere, Dr. Salim Ahmed Salim, President Sam Nujoma, Dr. Nelson Mandela, President Yonweri Muzeveni, President John Agyekum Kuffor, Senator David Mark, Alhaji Yayale Ahmed, Otunba Subomi Balogun, President Ellen Johnson Sirleaf, Alhaji Ahmed Joda and Mr Godwin Emefiele.

Whilst congratulating Uzoka and the UBA family, the organisers noted that the formal presentation ceremony of The Zik Prize awards will be a celebratory event to be held on Sunday 6th December, 2020.

Uzoka is a renowned African business executive, with vast experience in banking, business development, financial and business advisory, strategic planning and execution as well as human resource management.

He is an advocate of disruptive technology and has led many game changing innovations in the African banking industry over the past two decades of his career.

Kennedy holds a BSc. in Mechanical Engineering from the University of Benin and an MBA from the University of Lagos.

He is an alumnus of the Advanced Management Program (AMP) of the Harvard Business School, Boston USA, the International Institute of Management Development (IMS) in Lausanne, Switzerland, and the London Business School, United Kingdom.

Kennedy is also a Fellow of the Chartered Institute of Bankers in Nigeria (CIBN).

 

 


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EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud

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Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), Ikoyi, Lagos, on Tuesday, March 3, 2026, arraigned two bank officials, Bakare Oladimeji Surajudeen and James Olukayode Imokwede, over an alleged $306,667.81 and €50,250 fraud before Justice Ismaila Ijelu of the Lagos State High Court sitting in Ikeja.
EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud

EFCC

The defendants, who are both top officials of FSDH Merchant Bank Limited, were arraigned on a 10-count charge bordering on alleged stealing and retention of stolen property to the tune of $306,667.81 and €50,250.
The petitioner, FSDH Merchant Bank Limited, alleged that an internal audit uncovered unauthorized debits totaling $306,667.81 and €50,250, equivalent to N527,406,916.66 (Five Hundred and Twenty-Seven Million, Four Hundred and Six Thousand, Nine Hundred and Sixteen Naira, Sixty Six kobo), from its Letters of Credit (LC) payable accounts.
Investigations revealed that the defendants processed fraudulent transfers through the SWIFT platform to third parties.
One of the counts reads:
“That you, BAKARE OLADIMEJI SURAJUDEEN and JAMES OLUKAYODE IMOKWEDE, sometime in 2021 in Lagos within the jurisdiction of this Honourable Court, dishonestly took the sum of N527,406,916.66 (Five Hundred and Twenty-Seven Million, Four Hundred and Six Thousand, Nine Hundred and Sixteen Naira, Sixty Six kobo), property of FSDH Merchant Bank Limited.”
Another count reads:
“That you BAKARE OLADIMEJI SURAJUDEEN AND JAMES Olukayode Imokwede sometime in 2021 in Lagos within the jurisdiction of this Honourable Court dishonestly took sum of $306,667. 81 (Three Hundred and Six Thousand, Six Hundred and Sixty Seven dollars, Eighty one cents) property of FSDH Merchant Bank Limited”.
The defendants pleaded “not guilty” to all the charges preferred against them.
Following their pleas, prosecution counsel, H. U. Kofarnaisa, asked the court for a trial date and also prayed that the defendants be remanded in a Correctional facility pending trial.
Counsel to the first and second defendants, Oluwaseun Akintunde and Olajide S. Onasanya, informed the court that bail applications had been filed on behalf of the defendants and also urged the court to grant them bail on liberal terms.
They also prayed that the defendants be remanded in the EFCC custody pending the perfection of their bail conditions.
The prosecution counsel, however, opposed the prayers of the defence seeking the remand of the defendants in the EFCC custody, saying that “the EFCC detention facilities are overstretched.”
After listening to both parties, Justice Ijelu granted the defendants bail in the sum of N2 million each, with two sureties in like sum.
The court ordered that one of the sureties must be a relative, who is gainfully employed.
The sureties must provide evidence of tax payment in the last three years and must show proof of livelihood, with their residences verified.
The defendants were ordered to deposit their international passports with the court, and must not travel outside the country without the leave of the court.
The judge subsequently remanded the defendants in a Correctional facility pending the perfection of their bail conditions.
Justice Ijelu adjourned the matter till March 25, 2026, for the commencement of trial.

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AfDB Supports Francophone Africa Start-ups with €6.5M

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The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.

The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.

This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.

Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.

The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.

The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.

In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.


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Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

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Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.

Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.

Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.

The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.

SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.

The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.

Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.

Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.


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