Features
UBA’s Half-year Profit Grows By 33% to N76.2 Billion
Declares 20k per share interim dividend

Africa’s leading financial institution, the United Bank for Africa (UBA) Plc has announced its audited half year financial results for the half year ended June 30, 2021, showing impressive growth across all major income lines and performance indicators.
The pan African financial institution delivered a 33.4 per cent appreciation in its profit before tax which rose to N76.2 billion as at June 2021, up from the N57.1 billion recorded in the same period of 2020. This translated to an annualised Return on Average Equity (RoAE) of 17.5 per cent as against 14.4 per cent a year earlier. This feat was recorded despite the challenging business and economic environment that emerged from the slow pace of activities following the global lockdown occasioned by the Covid-19 pandemic.
The results submitted to the Nigerian Exchange Limited, showed that the group’s profit after tax stood at N60.6 billion, representing a significant rise by 36.3 per cent, compared with the N44.4 billion recorded in the half year of 2020.
Similarly, gross earnings grew to N316 billion, which was a five per cent increase, from the N300.6 billion recorded as at June 2020.
According to the results, at June 30, 2021, the group’s total assets crossed the N8 trillion mark as it increased to N8.3 trillion, up from N7.7 trillion at the end of the 2020 financial year. Its customer deposit also crossed the N6 trillion mark, growing by 7.4 per cent to N6.1 trillion in the period under review, compared with N5.7 trillion as at December 2020.
Furthermore, the group’s Shareholders’ Funds remained robust at N752.5 billion, up from N724.1 billion in December 2020, reflecting its strong capacity for internal capital generation.
In line with the bank’s culture of paying both interim and final cash dividend, the Board of Directors of UBA declared an interim dividend of 20 kobo per share for every ordinary share of 50 kobo each, held by its shareholders.
Commenting on the results, UBA’s Group Managing Director/Chief Executive Officer, Mr. Kennedy Uzoka, expressed delight over the bank’s performance in the first half of the year.
He added: “This has been a strong first half for us, as global economic recovery exceeded expectations, creating a positive rub-off on consumer and corporate confidence, savings and investment activities.
“We saw this positively impact our business, as we continued to leverage our key strategic levers – People, Process and Technology, and our Customer first philosophy, to revolutionise customer experience at UBA.”
He added that the bank’s investment in the Rest of Africa (excluding Nigeria) continues to yield good results for the group.
Uzoka added: “The benefits of pan-African business diversification accruing to the Group is once again evident, with gross earnings and interest income growth of 5.1 per cent and 8.3 per cent respectively, despite the low yield environment in our largest market, Nigeria.
“We are making remarkable progress on our strategy that is progressively positioning UBA as the bank of choice on the continent, driven by our emphasis on tech-led innovation and best customer experience.”
Continuing, the GMD pointed out that the bank recognises the far-reaching effects of the pandemic on businesses globally, and remains focused on its promise to always provide our customers with the best banking experiences possible.
“Our first half 2021 (H1 2021) performance reflects our progressive efforts in building on the strong momentum that we started the year with. As a purpose-driven organisation, we remain resolute in our drive for sustained growth in customer acquisition, transaction volumes and balance sheet, as we consolidate our ‘Africa’s Global Bank’ market position in the years ahead, uplifting livelihoods across the continent,” Uzoka explained.
UBA’s Group Chief Financial Officer (GCFO), Ugo Nwaghodoh, on his part, noted that the bank’s goal was to achieve marked improvement in earnings quality whilst maintaining positive operating leverage as well as top-notch asset quality.
“The Group recorded RoAE of 17.5 per cent (from 15.1% in 2020H1) and a Net-Interest-Margin of 5.8 per cent (from 5.4% in H12020) as we played the volatile yield environment diligently for best return on our interest earning assets.
“Capital position remained strong, with a capital adequacy and liquidity ratios of 23.9 per cent (22.4% in 2020H1) and 58.3 per cent (58.2% in 2020H1) respectively. This is robust enough to support our growth ambitions,” he said.
The GCFO pointed out that even while the operating environment remains largely uncertain and volatile, despite marked improvement from Covid-19 induced macroeconomic stress, UBA will continue to build resilience through its geographically diversified business model to support headline earnings growth for the Group.
“We remain committed to our 18 per cent and 15 per cent respective RoAE and deposit growth guidance for FY 2021, as we continue to invest in growth opportunities across our geographies of operation, whilst managing capital and balance sheet prudently,” Nwaghodoh stated.
UBA offers banking services to more than twenty five million customers, across over 1,000 business offices and customer touch points, in 20 African countries.
With presence in the United States of America, the United Kingdom and France, UBA is connecting people and businesses across Africa through retail; commercial and corporate banking; innovative cross-border payments and remittances; trade finance and ancillary banking services.
Community
Abiodun declares state of emergency on flooded Isheri community
…assures residents of permanent solution after comprehensive assessment

Ogun State Governor, Prince Dapo Abiodun, on Monday declared state of emergency on the flooded Isheri community, in Ifo Local Government Area of the State, as he assured residents of the area quick intervention to save the situation.
The governor added that a comprehensive assessment that would lead to permanent solution to the menace of flooding in the affected area would be conducted very soon.
Prince Abiodun, who stated this while fielding questions from newsmen after inspecting the flooded community, said that his administration is working with the federal government to deal with the situation as an emergency case.
He noted that the time has come to find a lasting solution to the perennial flooding to make the area morw conducive for living.
According to him, the state government will see to the elevation of some roads in the area as parts of the solutions to the problem.
The govenor said: “We will prioritize the works here because I am touched with what I have seen. I will ensure that we immediately begin to see signs of relief as we are stepping this up. The Minister of State for Environment is already aware. The Vice President is already aware and also the president. It will be dealt with as an emergency and we are taking it as such.
“As an emergency, I will like to take it up myself. Please continue to bear with us as we are going to conduct a comprehensive assessment of what we need to do to make this place conducive for living.
“Whatever that assessment comes up with is what we are going to implement. So, we are going to first start with ensuring that we have the required road infrastructure at the appropriate levels.
“So if you now built in such a way that we need to relocate you, we have to do that. Whatever it is that we must do to ensure that place does not persistently experience flood, we will do it. But let us wait for the result of the studies to come back and then we will begin to take that decision as and when the situation arises.”
Addressing residents of Riverview Estate, Governor Abiodun said he has requested for an area survey of the entire estate to identify critical areas that needed immediately intervention.
He assured that the intervention would come through the construction of an elevated road with adequate drainages to mitigate their suffering.
“I want to assure you today, knowing fully well that we are a promise keeping administration, we do not say what we do not mean, my heart goes out to you, it is very unfortunate, I am giving my commitment today, the commissioner for works will come and see what needs to be done.
“We have also engage the Minister of State for the Environment, who fortunately, is from Ogun State and I have already brought this to his attention.
“Before the end of the week, I will also table it before the Vice President and the President as well so that we ensure that this problem gets all the desired attention and consequently gets the desired solution so we can bring this to an end,” he said.
The governor also disclosed that he and the Minister of Water Resources would visit the community in few days time.
“We will also discuss the issue of the Ogun-Osun River Basin Authority and try and interrogate the activities there and understand how their activities affect this community and other communities with respect to the opening and closing of the dam,” he said.
The governor described the environment around the Kara cattle market as an eyesore and not befitting the dreams of a “new Ogun State”.
He said that the market was not conducive for human living and not in tandem with the Sustainable Development Goals and waste disposal.
He, however, acknowledged the area as one of the biggest commercial operation that provide services to a large number of people, even as he assured that government would go into a satisfactory agreement with the market men and women after which a comprehensive beautification of the area would take place.
The Chairman, Riverview Estate, Abayomi Akande, in his remarks, intimated the governor of the suffering residents of the area are going through as a result of the flooding.
He said that there is a need for a panel of inquiry into the operations of Oyan Dam to stop incessant release of water to cause havoc in the State
He applauded the governor for sending miscreants packing from the road, saying residents of the axis have suffered robbery attacks and other criminalities for quite awhile.
Akande urged the state government to think of converting the area into a Government Residential Area (GRA) through Public Private Partnership arrangement to fast track its development.
Features
MediaTek, Airtel Nigeria intensify collaborative efforts to bolster mobile connectivity in Nigeria

Lagos, Nigeria – October 12, 2023 – MediaTek, a global leader in semiconductor industry together with Airtel Nigeria, a leading telecommunications service provider, briefed the local media on Thursday on their collaborative efforts, to drive technological advancements and improve mobile connectivity across the nation.
The collaboration introduces MediaTek’s T750-powered Customer Premises Equipment (CPE), a groundbreaking technology that enhances internet connectivity. This advancement allows users to access high-speed 5G networks from the comfort of their homes, opening doors to remote work, gaming, online education, and entertainment streaming like never before.
Speaking during the session, Rami Osman, Director for Corporate Sales and Marketing at MediaTek, Middle East Africa, highlighted MediaTek’s commitment towards expanding its footprint across the Smartphone and Smart Device ecosystem in the Middle East & Africa (MEA) region.
“MediaTek is at the forefront of the global semiconductor industry, and we are proud to lead the way in key sectors like Smartphones, 5G Fixed Wireless Access, Wi-Fi, TV, and AI-IoT. In Nigeria, our collaboration with Airtel Nigeria, revolves around three core areas of focus. In connectivity, we are enhancing high-speed internet access with our advanced chipsets.”
“In the Smartphone domain, we are committed to offering a wider range of premium and flagship devices while supporting the transition from feature phones to smartphones. In the realm of AI-IoT, we are exploring new possibilities and technologies. Thus, this will promote digital inclusion, revolutionize connectivity in Nigeria, and contribute to sustainable development goals,” said Osman.
In addition, he said, “This collaboration aligns seamlessly with our MEA agenda, laying a robust foundation for the future of 5G technology. As we move forward, we are excited to lead in technological progress within this continually evolving region.”
Ismail Olusegun Adeshina, Director, Marketing at Airtel Nigeria, emphasized the importance of the partnership with MediaTek and how it will provide affordable connectivity to Nigerians. He stated, “Our commitment to innovation is evident through our early adoption of 5G technology. We’re proactively investing in this technology to improve connectivity, to tackle coverage and cost challenges, and make 5G devices more accessible across Nigeria”.
MediaTek powers globally recognized brands and remains dedicated to providing state-of-the-art innovations through its latest products and solutions. These offerings span a diverse range, including smartphones, smart devices, automotive technology, satellite connectivity solutions, and next-generation wearables.
MediaTek’s product portfolio includes MediaTek Dimensity for 5G smartphones, MediaTek HelioG series for 4G gaming smartphones, MediaTek Kompanio for arm-based Chromebooks, MediaTek Pentonic for Smart TV technologies, MediaTek Genio for Internet of Things applications, MediaTek Filogic for advanced Wi-Fi 6/6E & Wi-Fi 7 solutions, and MediaTek Dimensity Auto for cutting-edge automotive technologies, among others.
For more information, please visit: https://www.mediatek.com/
Features
Bigi Brand’s Annual “Watch & Win” Promo Returns with Grand Prizes

The award-winning Bigi Carbonated Soft Drink brand, a product of Rite Foods Limited, is delighted to unveil her highly-anticipated fourth edition of its “Bigi Watch and Win” promo. Designed exclusively for movie enthusiasts in Lagos and Abuja, this exciting promo offers participants the opportunity to watch their favourite movies and win fantastic prizes.
From September 18, 2023, to November 18, 2023, movie goers can enjoy any film of their choice at Silverbird Cinemas and receive a raffle ticket. These tickets can be redeemed for a chance to win incredible prizes, including laptops, Bigi products, printers, perfumes, and more. The grand prize for this edition is a brand-new car.
The first edition of “Bigi Watch and Win” took place in 2021, and later that same year in December, the Bigi brand held another edition. Since then, it has become an annual tradition, demonstrating Rite Foods Limited’s commitment to rewarding brand loyalty among its valued consumers.
Ms. Biola Aransiola, Assistant Brand Manager for Bigi, expressed her excitement about the fourth edition of the promo, saying, “We’ve partnered with Silverbird Cinemas to enhance people’s movie-going experience. Movie lovers can enjoy any of our 13 Bigi Carbonated Soft Drink flavours while watching their favourite films and stand a chance to win amazing prizes.”
Ms. Aransiola also mentioned that her favourite part is witnessing participants’ reactions when they discover the incredible prizes they have won, particularly the grand prize—a brand-new car. She encourages potential participants to check @getbigi on all social media platforms for the terms and conditions.
Through the “Watch & Win” promo, the Bigi brand accentuates Rite Foods Limited’s dedication to supporting the entertainment industry. The brand continues to sponsor movie premieres, as it has in the past with movies such as “The Prophetess,” “Progressive Tailors Club,” and “Aki and Pawpaw.” Additionally, it has been a consistent sponsor of the popular talent discovery platform, Nigerian Idol, for three consecutive seasons (6, 7, & 8), helping aspiring Nigerian singers achieve their dreams of stardom in the music industry.
The “Watch & Win” promo, combined with other effective marketing initiatives, has earned the Bigi brand numerous awards within its market segment. In 2023, Bigi Cola was honored with the “Best Value for Money” award at the BrandXchange Consumers Value Awards. In 2022, it received the “Fastest Growing Cola Brand of the Year” award at the Marketing Edge Brands and Advertising Excellence Awards in Lagos. The Bigi brand also claimed the “Most Outstanding CSD Brand of the Year” award at the 2021 Brandcom Awards, solidifying its position as a market leader in the beverage industry, outperforming its competitors.
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