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UBA rewards 100 customers with N100,000 amid COVID 19 Meltdown

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Pan African Financial institution, United Bank for Africa (UBA) Plc has again given its loyal customers reason to cheer  as  it  rewarded 100 loyal customers with N100,000 each in the UBA Bumper account draw.

The draw, which took place at the UBA Head office on Tuesday, was held via the Facebook platform in strict compliance with social distancing rules as directed by the Federal and Lagos State Government where 100 more customers emerged winners through a transparent draw witnessed by representatives of the Consumer Protection Council, National Lottery Regulatory Commission and the Lagos State Lottery Board.

When contacted, the customers who emerged winners of the draw agreed that the total reward of N10m is timely and would be very useful in assisting them especially in the face of the Coronavirus Pandemic currently ravaging the world with attendant effect on incomes of individuals.

UBA’s Group Head, Consumer and Retail Banking, Jude Anele, who addressed the customers following the draw spoke about the bank’s excitement to be able to put smiles on the faces of as much as 100 customers at this critical time when livelihoods and lives are being threatened by the Covid-19 pandemic.

“These are difficult times indeed with little to cheer about because people are going through trying times. However, for us in UBA, we want our customers to know that we are in these together, that is why we have taken it upon ourselves to reward those that have kept our business going with their loyalty. With this reward, we want to encourage them to stay happy and safe even as they continue to aim for their dream regardless of the present challenges,” Anele said

Anele noted that, the bumper draw is also in line with the bank’s mission of creating superior value for its stakeholders while encouraging saving cultures among Nigerians, adding that “We have in recent times deepened our focus on the most important aspect of our business – the customers we serve. Hence, our huge investment in technology to make banking easier and seamless across all our product channels and that is why we most recently introduced new offerings such as this Bumper Account,  with our customer in mind as it is expected to deliver improved value to them.

Explaining the modalities for the draw, Anele said that all new and existing customers need do to qualify for the draw is to ensure that they have a minimum deposit of N5,000 in their UBA Bumper Account. “Current UBA customers are to dial  *919*20*1# to migrate to the UBA Bumper Account whilst potential customers should dial *919*20# if interested in opening a UBA Bumper Account,” he added.

​​​​​​​In the first draw which was held live during the official launch in Lagos,  a total of 100 customers emerged winners as the  Bumper to Bumper Crooner, Wande Coal serenaded guests with his famous hit songs to the delight of all present.

The Group Head Marketing & Customer Experience, Michelle Nwoga, explained that the Bumper account was created specifically with the customer in mind, adding that UBA truly puts its customers first and will stop at nothing to ensure they have the right solutions to support their needs. “We are committed to delivering exceptional service and will always seek to excite our customers at every interaction. We back our words with action and that is why a total of 100 customers emerged winners at the last draw which also took place here,” she said.

She added that a monthly shopping allowance of N100,000 for a year is also up for grabs. “No fewer than 50 account holders will get a whopping N2 million each across all participating regions. This account is open to both existing and new customers of the bank who save a minimum of N5,000,” Nwoga added.

Mafulul Emmanuel King, one of the winners who was called on the phone, could not hide his joy when he was announced as one of the winners. “I am still very amazed. I never knew I could get lucky and win. All my life, I have never won anything like this, and I am very happy that I won this time.  What a time to get lucky than now when this Corona Pandemic has affected my business severely. You cant imagine how relieved and delighted I am. God bless you guys, thank you so much UBA,” he said.

​​​​​​​Another winner, Bello Aishat, who could not also believe it when her name was contacted screamed for joy, saying “you don’t know what this means to me at this very difficult time! This bank keeps touching and supporting lives. The same way they supported both the federal and state governments and some African countries with a whooping N5billion. I am convinced UBA truly cares and I am proud to bank with UBA. Thank you so much, you have touched me beyond words at a trying time,” she concluded.

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Disparaging Dangote Uncalled For, Creating Bad Waves For Nigeria – AFDB President, Adesina

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The president of the African Development Bank Group, Akinwumi Adesina, has spoken out in defence of the Dangote Refinery, addressing concerns about potential monopolistic practices.

In a statement shared by businessman Femi Otedola on Tuesday via X, Adesina expressed his shock at the controversy surrounding Dangote’s operations, warning that it is “creating bad waves for Nigeria globally.”

According to Otedola’s post, Adesina argued that monopolies often arise in industries with high entry barriers or capital costs, citing railways and large-scale refineries as examples.

He was quoted as saying, “Monopoly often exists where there are high barriers to entry or high capital costs. How many individuals or companies can do railways? How many can do refineries of the scale of Dangote Refineries? In a nation that has been importing refined petroleum products for several decades, the abnormal simply became very normal.”

The AfDB President emphasised the significant investment made by Dangote, stating, “No smart investor would make a $19.5 billion investment and want it to be undermined by importers.”

He highlighted manufacturing challenges in Nigeria, describing the business environment as fraught with policy uncertainties and reversals.

“To manufacture is extremely expensive and risky. This is even more so in Nigeria, given the very challenging business and economic environment, fraught with policy uncertainties and policy reversals, and where the self-defeating default mode of “simply import it” is always so easily rationalized and chorused to solve any problem,” he said.

Addressing concerns about anti-competitive practices, Adesina said, “Competition is good for everyone. But is Dangote refineries anti-competitive? What is the evidence? Has Dangote Refineries prevented any other company from setting up refineries? Why have others not done so? How come they have not done so for several decades?

“Was it Dangote that held them back? But Dangote refineries surely cannot be asked to ‘compete’ with importers of petroleum products. That is not competition. Let the importers set up local refineries and compete by refining in Nigeria. That is fair and justified competition.”

Adesina stressed the broader economic implications of the refinery, stating, “We cannot and must not undermine, disparage or kill local industries, talk less of one that is of this scale — a jewel of industrialisation in Nigeria. It is more than simply delivering the cheapest product to the market.

“It is about domestic supply security, driving (and yes, protecting) globally competitive industries, maximising forward and backward linkages in the local economy, job creation, reducing forex expenses and shoring up the Naira. We must not be myopic.

“This whole disparaging of Dangote is uncalled for. It is self-defeating. And it is very bad for Nigeria. Who will want to come and invest in a country that disparages and undermines its own largest investor? Investing is tough. Pettiness is easy. It sadly sends a signal that the price for sacrificing for Nigeria is to get sacrificed.”

 

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BBC To Cut 500 Jobs As It Attempts To Save £200m For ‘Transformation’ Of The Corporation

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The BBC has announced plans to cut 500 jobs as it attempts to save £200 million to drive the “transformation” of the corporation.

Chief operating adviser, Leigh Tavaziva said it is making the changes to improve its premium video offering and digital capabilities.

It comes as the BBC is already attempting to save £500 million as part of a plan announced two years ago.

Tavaziva said “significant activity” is already underway to make the corporation “more flexible”.

She said: “In March this year we announced a requirement for an additional £200 million of savings and reinvestment plans to drive the continued transformation of the BBC.

“This will support greater investment into premium video content and further develop our digital capabilities.”

She added: “To further build our digital capabilities, whilst targeting efficiencies, over the next two years we will continue to close and transfer roles in some areas and create new roles in growth areas.

“This will result in a forecast net reduction of 500 roles in the public service by March 26, with further growth in targeted areas planned in our commercial group.

“To support these changes we will today be launching a new voluntary redundancy scheme for staff.

“Our priority remains to protect and champion the BBC’s fighting role as the UK’s public service broadcaster, for all our audiences both local and global.

“I would like to thank all colleagues for their continued efforts and commitments over the past 12 months.

“I am immensely proud of the exceptional content creativity, delivery, and innovation that our teams both provide and support every day.”

The BBC announced in March 2023 that it was to cut 1,000 hours of TV in order to save money, with half of that coming from sport.

In the same year, the corporation announced it was scrapping its in-house chamber choir, the BBC Singers, and reducing salaried orchestral posts across the BBC English Orchestras by around 20%.

In December 2022 it said that it was making £11m worth of cuts in local radio, which saw its 39 stations required to share content and broadcast less localised content.

Back in 2016, the BBC said it needed to cut £800m worth of costs, with £80m of that coming from news.

The move saw the Andrew Neil Show axed in 2020, along with 450 jobs in English regional TV news and current affairs, local radio and online news.

 

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I Have No Blending Plant Outside Nigeria, NNPC Boss Kyari Replies Dangote

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The Group Chief Executive Officer, Nigerian National Petroleum Company Limited, Mele Kyari has said he does not own a blending plant outside Nigeria.

Kyari stated this on Tuesday, July 23, while reacting to claims that some officials of the NNPC have blending plants in Malta.

Reacting in a post on his X handle (formerly Twitter), Kyari said he had been inundated with calls from family members and friends, asking if he truly owns a blending plant in Malta.

Kyari stated that he does not own or operate any business directly or by proxy anywhere in the world except a local mini-agricultural venture.

He also said he is not aware of any employee of the NNPC that owns or operates a blending plant in Malta or anywhere else in the world.

“I am inundated by enquiries from family members, friends and associates on the public declaration by the President of Dangote Group that some NNPC workers have established a blending plant in Malta thereby impeding procurements from local production of Petroleum products.

“To clarify the allegations regarding the blending plant, I do not own or operate any business directly or by proxy anywhere in the world with the exception of a local mini Agric venture, neither am I aware of any employee of the NNPC, that owns or operates a blending plant in Malta or anywhere else in the world.

“A blending plant in Malta or any part of the world has no influence over NNPC’s business operations and strategic actions.”

The NNPC boss threatened to sanction any official of the NNPC involved in such acts if they truly exist.

 

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