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Tag: GMD

  • UBA GMD marks first year of impactful service, says ‘the best has just begun’

    UBA GMD marks first year of impactful service, says ‘the best has just begun’

    The management of Africa’s Global Bank, United Bank for Africa (UBA) Plc, has unveiled its commitment to enhance customer experience, whilst expressing optimism for greater achievements for its customers and shareholders.

    UBA’s Group Managing Director/Chief Executive Officer, Mr. Oliver Alawuba, who made this pledge in Lagos on Tuesday, while marking his first-year anniversary in office, promised investors and customers that the best is yet to come.

    The ‘UBA 4.0 Team’, led by Alawuba, took over the reins of leadership in August 2022, and have since achieved record-breaking profit margins and witnessed transformative growth across the international and African markets.

    The GMD who expressed gratitude to his team and other internal stakeholders for the many successes achieved in the last 12 months, said that through their collective efforts, the bank has celebrated major business wins across various markets, solidifying its position as a leading financial institution in the region.

    He said, “I want to express my gratitude to every one of you, our dedicated and talented team leaders and members. for your commitment to our customer-centric vision and the spirit of execution displayed in our successes so far.

    “Through our collective efforts, we have recorded major business wins across our various markets, improved on our financial performance, enhanced customer service delivery and are on the way to achieving a more connected Brand, and these achievements have not only strengthened the bank’s standing but have also provided a solid foundation for even greater accomplishments in the future,” Alawuba pointed out.

    He explained that the bank will not rest on its oars in its drive to deliver on its promise of being the leading financial services provider in Africa and beyond, adding “We will continue to focus on our three levers of transformation, these being People, Process and Technology.”

    Alawuba highlighted the importance of engaging stakeholders to drive progress across all aspects of the bank’s operations, as he reiterated his commitment to continuous engagement across all geographies to ensure UBA remains at the forefront of the financial industry.

    “I have travelled to 21 countries across our 24 presence countries in the last 12 months, I make the commitment to continuously engage all stakeholders across all geographies, to ensure we make the expected progress in every aspect of our operations,” he stated.

    While reaffirming the bank’s mission to empower its customers, partners, and communities as a whole, the GMD stated that the UBA 4.0 remains dedicated to the well-being of our communities thus reinforcing its commitment to environmental sustainability.

    United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees’ group-wide and serving over 35 million customers globally. Operating in 20 African countries and in the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

  • NNPC reforms: My life is being threatened – GMD

    NNPC reforms: My life is being threatened – GMD

    The Group Managing Director (GMD) of the Nigeria National Petroleum Company (NNPC Ltd), Mr Mele Kyari, has said that he is receiving death threats as a result of the ongoing reformation in the NNPC.

    Kyari made this know on Wednesday in Abuja at the Legislative Transparency and Accountability summit organised by the House of Representatives Committee on Anti-Corruption.

    The summit is titled, ‘Enhancing Transparency and Accountability in the Oil and Gas Sector: Challenges and Prospects.’

    Kyari said that as a result of the implementation of the Petroleum Industry Act (PIA), a lot of changes are ongoing that is affecting the old order.

    He said the company had taken down several illegal oil refineries affecting the volume of oil production in the country.

    The GMD said that as a result of the activities and effect of the illegal refineries, daily crude oil production had reduced by 700,000 barrels.

    “Without mincing words, I want to say that this industry is in a threshold of change, there is massive change going on and it is very expensive and of personal cost to many people including myself.

    “There is a threat to life, I can say this, I have several death threats but we are not bothered about this, we believe that no one dies unless it is his time.

    “But this is the cost of change, when people move away from what they are used to something new that will take away value and benefit from them, they will react.

    “That reaction is benefits to all of us and we will work together to make sure it works out,“ he said.

    The Speaker of the House of Representatives, Rep. Femi Gbajabiamila, said that over six decades, the oil and gas industry has played a critical role in the economy of Nigeria.

    He said that the industry has provided millions of jobs, directly and indirectly, adding that income from the oil and gas sector has funded the administration of government to the tune of hundreds of billions of dollars over the years.

    According to him, “we are living in a world made possible by income from oil and gas and the fossil fuel industry.”

    He, however, said that the world is changing towards a future where the economic value of oil and gas is far diminished from what it used to be.

    “Amid this evolving paradigm, the oil and gas industry still faces unique challenges here at home. Due to theft and various acts of economic sabotage, we are experiencing a massive decline in crude oil production and export volume.

    “Our country is the victim of bad actors determined to achieve great personal wealth at our collective expense.

    “At a time of severe financial constraints, the perpetrators of this brazen heist threaten our ability to meet the demands of governance and nation-building.

    “Their actions effectively amount to treason against our country, for which they must be held accountable,” he said.

    Earlier, the Chairman, House Committee on Anti-Corruption, Rep. Shehu Garba, said that the oil and gas sector accounts for 80 per cent of Nigeria’s foreign exchange income.

    He said that it also accounts for 50 per cent of the nation’s total revenue, saying that anything that affects the sector, affects the nation.

    The lawmaker said that the PIA is a watershed as it would address a lot of the challenges limiting the sector’s ultimate performance.

    He said that the committee resolved to organise the summit to keep the conversation on transparency going and to make Nigerians understand what the new legislation brings.

    Garba said that the summit also provides a platform for stakeholders engagement and to share opportunities therein.

  • National Assembly summons NNPC over biting fuel scarcity

    National Assembly summons NNPC over biting fuel scarcity

    Members of the House of Representatives are set for a high-powered meeting with the Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Limited, Mele Kyari over the importation of adulterated petroleum motor spirit (PMS) into the country and the effects.

    Also, the Chief Executive Officer of NNPC Midstream petroleum regulatory agency, and other officials of the agency are expected at the investigative hearing slated for 10am on Wednesday.

    Group Managing Director, Nigerian National Petroleum Corporation, Malam Mele Kyari

    Meanwhile, the lawmakers have expanded the scope of the investigation to why long queues still persisted at the filling stations.

    Tempers had frayed in the House last Thursday over the recent importation of adulterated PMS into Nigeria, which had caused a crisis across the country.

    Ndudi Elumelu, the minority Leader of the House, raised a point of order to decry the hardship caused by shortage of fuel in the Abuja metropolis drawing from his experience.

    http://saharareporters.com/2022/02/16/national-assembly-grill-nnpc-managing-director-others-over-biting-fuel-scarcity

    Elumelu was quoted as saying, “I wanted to come under Order 8 Rules 4 and 7 for us to discuss this issue of lingering fuel crisis in Nigeria. I agree that the NNPC said they had enough but it (the situation) does not seem to tally with their submission that they have enough fuel. There are still some lingering fuel crises in the whole of Nigeria.

    http://thenewsguru.ng/news/fuel-scarcity-moman-directs-members-to-operate-jetties-depots-18-to-24-hours-daily/

    “Today, it was even difficult for me to get here because all the roads are totally blocked by those wanting to get fuel, and there is no fuel. There is already an existing committee saddled with the responsibility of investigating the issue of adulterated fuel.

    “So, I was thinking if we can take it and refer it to them as the House deems fit. We should find out whether there is an interim report to that effect, with the assignment that the House has given to that committee to do.”

    read also http://thenewsguru.ng/news/nnpc-allays-fear-over-fuel-scarcity/

     

  • Guild calls for publication of health sector fund beneficiaries

    Guild calls for publication of health sector fund beneficiaries

    The Guild of Medical Directors (GMD) has urged the Central Bank of Nigeria (CBN) to publish a list of beneficiaries that benefited from its N100 billion Health Sector Intervention Fund (HSIF).

    The National President, Dr Raymond Kuti, made the call in an interview with the Newsmen in Lagos on Sunday.

    Newsmen reports that the guild is the body of medical doctors, who own and operate private hospitals and clinics in Nigeria.

    Kuti said that the fund ought to catalyse development across the health sector.

    He, however, noted that the majority of members of the guild did not benefit from the fund.

    “To ensure transparency in the disbursement of the fund, the CBN should publish the list of beneficiaries that benefited from the fund.

    “It should make public the names and amount given to them; the same way it published those that got its foreign exchange.

    “That way, we’ll know where the funds are because eight out of every 10 members of the guild that applied for the fund didn’t get it in spite of submitting and meeting the necessary requirements,” he said.

    According to him, inflation is affecting healthcare delivery and access to the fund will assist many health facilities to ameliorate the effect.

    “As at April 2021, diesel was N190, now it is N340; cost of equipment has also increased.

    “We want to continue to give quality healthcare services to Nigerians. However, we need financial support to do this optimally,”Kuti said.

    He noted that extension of support would assist its members who provided 60 per cent of quality medical care for citizens to fulfill their mission of bridging the gap between foreign and local access to medical care in the country.

    The CBN in response to the COVID-19 pandemic, had in April 2020, facilitated a N100 billion intervention fund geared toward the healthcare sector.

    The fund was to provide credit to indigenous pharmaceutical companies and other healthcare value chain players to build or expand capacity.

    It also seeks to increase private and public investment in the healthcare sector, facilitate improvements in healthcare delivery and reduce medical tourism toward enhancing foreign exchange conservation.

    The apex bank said that due to increased demand and to spur economic recovery in the health sector, its Monetary Policy Committee approved that the fund should increase from N100 billion to N200 billion.

    The CBN as at Nov. 2021, said it had disbursed N108.65 billion, supporting 117 healthcare projects which include medical diagnostics, pharmaceuticals, dental services, eye clinics both private and public hospitals, amongst others.

  • Oil firm boss charged to court over attempt to defraud CBN of $100m

    Oil firm boss charged to court over attempt to defraud CBN of $100m

    The Federal Government has charged the Group Managing Director (GMD) of an oil marketing firm, Triumph Oil and Gas Madgascar Nigeria Limited, Ibrahim Olanrewaju Mahmud, with an attempt to defraud the Central Bank of Nigeria (CBN) of $100 million.

    Mahmud, who was arraigned before a High Court of the Federal Capital Territory (FCT) on a six-count charge, was also accused of forging the signatures of CBN Governor Godwin Emefiele; the Special Assistant to the President, Sabiu Yusuf and the GMD of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari.

    The Economic and Financial Crimes Commission (EFCC) said Mahmud, who allegedly claimed to be a Deputy Governor in CBN, was said to have taken the forged documents to the apex bank to demand for the payment of $100 million for a contract he claimed his firm was awarded by the apex bank.

    Mahmud was said to have also claimed that his firm was engaged to monitor and supervise major Federal Government’s infrastructure projects, forfeited assets and government businesses for which the CBN approved the payment of the $100 million.

    Following Mahmud’s claims, the CBN was said to have referred the case to the EFCC for investigation, and the anti-graft agency reportedly found that his firm not registered and the documents he presented could not be authenticated.

    Mahmud, who pleaded not guilty and was granted bail by Justice Halilu Yusuf, was yesterday ordered to be returned to the Kuje Correctional Centre, following his inability to meet the bail conditions.

    At the mention of the case, prosecuting lawyer Benjami Manji said the matter was for trial and that he was ready as his witness was in court.

    Defence lawyer, J. K. Kolawole, pleaded for time to enable him familiarise himself with the case. The lawyer claimed he was not familiar with details of the matter.

    With Manji not opposing the defence lawyer’s application, Justice Yusuf adjourned till January 24 for definite trial, during which an official of the CBN is expected to testify for the prosecution.

  • GMD UBA, Kennedy Uzoka wins ‘Finovator of the Year’ Award

    GMD UBA, Kennedy Uzoka wins ‘Finovator of the Year’ Award

    The Group Managing Director/Chief Executive Officer of United Bank for Africa (UBA) Plc, Kennedy Uzoka, has been announced as the winner of the Finovator of the Year’ Award for the year 2021.

     

    The Finovator of the Year’ Award is organised by the Finnovex West Africa Awards 2021, co-located with Finnovex West Africa Virtual Summi, Uzoka was selected as the winner of the award in recognition and appreciation of his effort and exceptional service provided in the field of financial services.

     

    The United Bank for Africa, Africa’s global bank, was also named as winner, ‘Excellence in Digital Banking’ award at the same event.

    Uzoka who was excited over both awards disclosed that over the last few months, UBA has set out on a mission to upgrade its banking channels and has invested in the latest technology to boost its digital offerings to customers, adding that this venture has been paying-off for the bank.

     

    He said, “Recognitions such as these show that we at UBA, are indeed doing something right, and I want to assure all our customers and stakeholders that we will continue to leverage our diversified business model and dedicated workforce to further strengthen our position as ‘Africa’s Global Bank’.

     

    “We promise to do all we can to ensure that our customers remain central to our decisions in every aspect and dimension of our remarkable organisation, and this is more than a clarion call to service excellence,” the GMD said.

     

    While presenting the awards at the virtual event, the Conference Manager, Finnovex West Africa Awards 2021, Ancy Antony, said, “It is our utmost delight to honour the pioneers and visionaries who have transformed the financial services industry and present you with this award”.

    Ancy added that the Finnovex Awards cherishes and celebrates outstanding achievements in the banking and finance industry, and is aimed at honouring organisations and individuals, that have consistently demonstrated exemplary performance.

     

    As they congratulated Uzoka and the UBA Group over the awards, the organisers explained that the Finnovex is the leading series of summits on financial services innovation and excellence that examines the future of financial services on how disruptive innovations are reshaping the way they are structured, provisioned and consumed.

  • Buhari meets NNPC GMD as oil prices rise

    Buhari meets NNPC GMD as oil prices rise

    President Muhammadu Buhari on Wednesday met behind closed doors with the Group Managing Director of the Nigeria National Petroleum Corporation (NNPC), Mela Kyari, at the Presidential Villa, Abuja.

    The agenda of the meeting was unknown as at the time of filing this report.

    The meeting came amidst the escalating tension between the United States and Iran following the killing of an Iranian commander last week and the subsequent retaliatory attacks on military bases housing American troops in Iraq.

    The President, who equally serves as Minister of Petroleum Resources, would also be meeting with the Minister of State, Petroleum Resources, Mr Timipre Sylva, later on Wednesday.

    Brent crude, the global benchmark, gained 2.4% to reach $70.24 per barrel on Monday, the first time prices have hit that amount in more than seven months.

  • New NNPC GMD, Kyari vows to collaborate EFCC to fight corruption

    New NNPC GMD, Kyari vows to collaborate EFCC to fight corruption

    The new Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari says the corporation will partner with Economic and Financial Crimes Commission (EFCC) to fight corruption in its operations.
    Kyari disclosed this in his address at the Valedictory Session held for the outgoing GMD, Dr Maikanti Baru, in Abuja on Monday.
    Kyari is the 19th GMD to steer the affairs of the corporation since inception.
    “There is no corruption where there is no discretion; we will work with the Economic and Financial Crimes Commission (EFCC) to take out discretion in our system.
    “NNPC will not be opaque, we will make what we do known to Nigerians because we are working for them, and not doing them a favour,” he said
    He said that his team would be transparent and would not work to make deliberate mistakes.
    Kyari added that he would not allow his personal interest to influence his decisions and urged his family members not to accept any gift from anyone.
    “I have two sons and I have adopted so many, let me say it now in public, if you accept any gift from anyone, It is not for me.

    “For the public, please do not give any gift to my family member, “he said.

    He pledged to work with various stakeholders in the sector to sustain Baru’s Legacy
    He said that his team would work with the International Oil Companies (OIC) to ensure effective crude production and to further grow the nation’s oil reserve.
    Kyari urged the oil workers unions to support the corporation to deliver on its mandate
    He added that being a grand Chairman of Petroleum and Gas Senior Staff Association of Nigeria (PENGASSAN) was a plus to his team to achieve greater height.
    “To all NNPC staff, we must work together and build that trust been expected of us which is to ensure NNPC excel as a company.
    “We need all the support trust and understanding to deliver NNPC as a global company of excellence,” he said.
    While commending Baru on its efforts, he assured him that he would continue from where he stopped and would deliver on the areas of oil and gas production.
    “I have been part of the decisions and progress made in the last three years. I guarantee you that we will make NNPC a global company.
    “We will remove discretion in doing business to ensure transparency, we will open new ways to meet with all stakeholders and we will be accountable to citizens,” he said.
    He further said that his team would deliver on revamping of the four refineries and support every effort to help Dangote refinery come on stream.
    “Our expectation is that by 2023 Nigeria will be net exporter of petroleum products and we target to grow the reserve to 40 billion barrel by 2020.
    “I will do my work with utmost integrity, after which I hope to stand before my creator to say I have done well,” Kyari said.
    The new GMD, who acknowledged that that his selection was divine, assured that he would work to ensure growth and development of the oil and gas sector in Nigeria.
    The News Agency of Nigeria (NAN) reports that the high point of the event was the handing over ceremony with transfer of NNPC cap from the outgoing GMD to Kyari.
    The Cap is the symbol of Legacy left by the First GMD of the Corporation Dr Festus Mario.
    About seven past GMDs of the Corporation, Governors, National Assembly members, IOCs, industry players were present at the occasion.

  • JUST IN: Baru hands over to Kyari as NNPC GMD, reels out achievements

    The outgoing Group Managing Director of Nigeria National Petroleum Corporation(NNPC) Dr. Maikanti Baru has told the chairman, Economic and Financial Crimes Commission, Ibrahim Magu the corporation’s records under his watch is clean.
    He said he “looks back with pride, recalling that kerosene was gold, diesel a nightmare, nobody talks about them now.”
    According to him, NNPC has fully exited the payment of cash-call to ExxonMobil.
    He added that the corporation has also paid about N198billion as pension arrears.
    Baru spoke in the amphitheatre of NNPC, Abuja that was agog for his valedictory session and the inauguration of his would be successor, Mele Kyari.
    Baru is decked in a Navy blue suit and a long cap made of NNPC red, white yellow and green logo.
    Kyari, too, is dressed in a blue agbada and a cap to match.
    As the preamble of the ceremony runs, the former GMDs as Engr. Funso Kupoluko, Dr. Thomas Iyinbo, Ebgr. Joseph Darwa, Engr. Abubakar Yalam and Chambalain Oyinbo are also seated among other creams of the nation.
    Also present at the valedictory session are Governor Kayode Fayemi of Ekiti State, the acting chairman of EFCC, Ibrahim Magu, the Executive Secretary; Nigerian Extractive Industries Transparency Initiative (NEITI), amongst others.
    More details later…

  • Court rules on ex-NNPC GMD, Andrew Yakubu’s no case submission May 16

    Court rules on ex-NNPC GMD, Andrew Yakubu’s no case submission May 16

    The Federal High Court, Abuja, has fixed May 16, for ruling on the no case submission entered by Andrew Yakubu, former Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC) in relation to his trial.

    The trial judge, Justice Ahmed Mohammed fixed the date on Wednesday after counsel to Yakubu, Mr Ahmed Raji, SAN, and the prosecutor, Mr Ben Ikani adopted their written addresses on the no case submission.

    Yakubu was arraigned by the Economic and Financial Crimes Commission (EFCC), on a six-count charge bordering on failure to declare assets and money laundering.

    The EFCC had on February 3, 2017, raided Yakubu’s house, located on Chikun Road, Sabon Tasha area of Kaduna South Local Government Area of Kaduna State, where it claimed to have recovered 9,772, 800 dollars and 74,000.00 pounds.

    When EFCC closed its case after calling seven witnesses, Yakubu, rather than open his defence, elected to file a no-case submission claiming he had no case to answer.

    He argued that the essential elements of the charge brought against him were not proven by the prosecution to warrant him entering a defence.

    He maintained that the evidence led by the prosecution’s seven witnesses did not establish a case against him to require him to defend himself.

    He prayed the court to strike out the charge and discharge and acquit him.

    Meanwhile the court also adjourned until April 1, to rule on an application by Yakubu seeking leave of the court to travel abroad for medical treatment.