Business
UBA To Rollout Banking Products For Ex-staff
” As a bank that is interested in the welfare of both staff and ex-staff, we are going to roll out products that are specifically tailored to suit the needs of all our alumni.”
Oliver Alawuba, UBA’s Group Managing Director, disclosed this, during the relauch of the UBA Alumni Network Programme, in Lagos.
He said that some of the new offerings and benefits to be enjoyed by the members of the UBA alumni include debt restructuring and a moratorium for staff who left while still servicing loans, top-up loans, CoT concessions, access to senior citizens loans, and fast-tracking of banking services, among others.
He expressed the bank’s commitment to reposition the alumni to do more to ensure that ex-staff remain comfortable ambassadors of the brand.
“I understand that this very key network was launched in 2021, and we have come here today to assure all the members of our alumni that UBA, which is over 75 years old, will continue to play the role of becoming a beacon of hope to our Ex-staff,” he said .
Muyiwa Akinyemi, the UBA’s Deputy Managing Director, also noted that the bank is where it is today because of the sacrifices made by its ex-staff several years ago, adding that this is the driving force behind the bank’s desire to support them.
“Today, we are here, but tomorrow, we might be somewhere else, and it is, therefore, essential for us to bond with our former employees who we recognise as ambassadors that have contributed to the bank’s legacy in various sectors over the years,” Akinyemi stated.
He explained that with 35 million customers and over 25,000 staff, the bank remains committed to fostering a vibrant alumni community.
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“We will continue to rely on this all important network to help us to know how to serve you better, in the four continents and 24 countries that UBA currently operates in,” he said
The Chairperson of the UBA Alumni Network, Mosunmola Yusuf, who was a former staff with the Employee Experience unit, explained that the bank aims to harness the wealth of knowledge and experience of its former employees, creating a powerful network that extends far beyond the continent.
The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.
The Presidency says a man identified as Prince Adeniyi Adeyemi Matthew allegedly created and operated fake government agencies, forged appointment letters, and falsely claimed to have been appointed by Femi Gbajabiamila.
According to the statement:
The Office of the Chief of Staff discovered the alleged scheme after complaints from the Nigerian Investment Promotion Commission (NIPC) that an unauthorized body was operating in a way that conflicted with its functions.
The Chief of Staff petitioned the Department of State Services and the Nigeria Police Force in October 2025 to investigate alleged forged appointment letters.
The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.
Investigators allege Adeyemi operated from an office in the Federal Secretariat Complex, held meetings with diplomats, and sought diplomatic support to obtain U.S. visas for members of the alleged organization.
Police reportedly recovered forged documents and other exhibits during searches of his office and residence.
The investigation allegedly found that Adeyemi operated 34 bank accounts, including several in the names of fictitious organizations, and used forged documents to open a Central Bank of Nigeria account.
The Presidency says no government funds were paid into that account.
Police charged Adeyemi and two others before the Federal High Court on multiple counts, including forgery, impersonation, and obtaining by false pretence. The case is scheduled for hearing on July 27.
The Presidency also denied claims that Gbajabiamila appointed Adeyemi, stating that appointments to federal offices are issued through the Office of the Secretary to the Government of the Federation, not the Office of the Chief of Staff.
Current status
The Presidency maintains that:
the agencies in question are fictitious,
the appointment letter was forged,
Adeyemi is an impostor,
and the allegations against him should be resolved by the court.
As the case is pending before the court, the allegations remain subject to judicial determination.
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Business
CBN revokes 46 MFBs’ licences
According to the revocation order, the action became necessary because of one or more of: insufficient assets to meet liabilities; closure of operations without the CBN approval; and inactivity and cessation of financial intermediation.
The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 Microfinance Banks (MFBs).
CBN’s Ag. Director of Communications, Mrs. Hakama Sidi-Ali disclosed that the revocation becomes effective today.
She emphasised that the revocation was in accordance with its powers under Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020.
“The revocation was approved by the Governor of the Central Bank of Nigeria, Mr. OlayemiCardoso, following the banks’ failure to meet the regulatory requirements for continued operation as licensed financial institutions,” she said.
According to the revocation order, the action became necessary because of one or more of: insufficient assets to meet liabilities; closure of operations without the CBN approval; and inactivity and cessation of financial intermediation.
Others were: failure to commence operations within 12 months of licence approval, and failure to maintain minimum capital funds unimpaired by losses.
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