Search Our Site

Football Legend Diego Maradona dies at 60
Football legend Diego Maradona, one of the greatest players of all time, has died at…
'It’s A Temporal Trial, Be Courageous’ – Primate Ayodele Sends Message To Prophet Israel Oladele Genesis
  The leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele has sent a strong…
We must not allow fifth columnists undermine our security...Gov.Sanwo-Olu urges Lagosians
The wanton destruction of public assets in the violence that trailed the recent nationwide protests…
Shoprite surprises customers on a bumper Black Friday
Shoprite Nigeria’s supermarkets have offered early Black Friday deals and big discounts on everyday essentials…
Q3 2020!  UBA Grows Gross Earnings to N454.4 Billion, Delivers N90.4 billion PBT
  United Bank for Africa (UBA) Plc, has announced commendable performance in its unaudited 2020…

Football News | Sky Sports

Football legend Diego Maradona, one of the greatest players of all time, has died at the age of 60.

Dangote Group - Wikipedia

For the third consecutive year, the pan-African and fully integrated Conglomerate, Dangote Group has again emerged as the Most Valuable Brand in Nigeria for the year 2020, the outcome of the 2020 edition of the Annual Brand Evaluation, “TOP 50 BRANDS NIGERIA” has revealed.

SBI Media hold maiden edition of media workshop, Rewards Upcoming  Mediaprenuer, other youthsFeatures — The Guardian Nigeria News – Nigeria  and World News

SBI Media Limited, a leading media agency in Nigeria has reaffirmed its commitment towards youth’s empowerment and development during the maiden edition of its corporate social responsibility (CSR) workshop titled “The SBI Media Workshop” where some upcoming media entrepreneurs and other innovators were rewarded with cash gifts in grant for their viable ideas and a lucky round-trip ticket winner, courtesy the Turkish Airlines.

Primate Ayodele To Prophet Israel Oladele; "Be Courageous, It's A Temporal  Trial" - Famous People Magazine
The leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele has sent a strong message to the Shepherd-In-Charge of CCC Genesis Parish, Prophet Israel Oladele who was sent to jail some days ago on charges that has to do with fraud.

Fidelity Bank plc - United Nations Environment - Finance Initiative


In compliance with the directives of the Central Bank of Nigeria (CBN) for Deposit Money Banks (DMBs) to implement the revised Nigeria Cheque Standard (NCS), Fidelity Bank has announced the introduction of its new in cheque leaflet.

CNN report on Lekki toll gate shooting: Lai Mohammed reply TV station  report on End SARS killing - BBC News Pidgin

Good morning gentlemen, and welcome to this press conference. It's no longer news that the EndSARS protest last month degenerated into mindless violence after it was hijacked by hoodlums. In the aftermath of the protest, however, there are lingering issues, hence this press conference to take a holistic look at such issues.

Gawat Jubril A.'s tweet - "WE MUST NOT ALLOW FIFTH COLUMNISTS UNDERMINE OUR  SECURITY, SANWO-OLU URGES LAGOSIANS AT FORUM • Interior Minister Moves To  Strengthen Peace In Troubled Communities, Meets Stakeholders •

The wanton destruction of public assets in the violence that trailed the recent nationwide protests by the youth against police brutality has bolstered the Federal Government-led initiatives geared towards engendering peace and security in the country.

Breaking: Former senate leader 'Ndoma-Egba' loses wife in an auto crash


Cruel death has snatched away Mrs Amaka Ndoma-Egba, Wife of the former Senate Leader, Senator Victor Ndoma-Egba.The amazing lady  reportedly died last night, in an auto crash along Benin-Akure road.

Tony Elumelu answers 10 questions on entrepreneurship - UBA Lion King Blog

The Kingdom of Belgium has conferred the honorary distinction of Officer in the Order of Leopold, the country’s oldest and most important National Honour, on Africa’s leading investor and philanthropist, Tony O. Elumelu, CON, in recognition of his commitment to poverty eradication and the economic empowerment of young Africans.


Shoprite Nigeria’s supermarkets have offered early Black Friday deals and big discounts on everyday essentials as customers are increasingly looking for value, given the pressure many households are currently experiencing.

Water Bill

A security aide to the Speaker, House of Representatives, Femi Gbajabiamila, has shot a newspaper vendor in the head.

Biography: Jimoh Ibrahim – SONAIKE WUNMI'S BLOG

The Asset Management Corporation of Nigeria (AMCON) says it has seized assets belonging to Jimoh Ibrahim, a Nigerian businessman, over a N69.4 billion debt.

Kennedy Uzoka is 2019 Business Day's Bank CEO


United Bank for Africa (UBA) Plc, has announced commendable performance in its unaudited 2020 Third Quarter Financial Results, with impressive growth in Gross Earnings, which rose to N454.4 billion, up from N428.7billion recorded in September 2019.


According to the report filed with the Nigerian Stock Exchange (NSE) on Friday (20 Nov. 2020), UBA reported a Profit Before Tax of N90.4 billion compared to N98.2 billion recorded at the end of the third quarter of 2019. Similarly, the Bank recorded an after-tax net profit of N77.1 billion, thus putting its annualised return on average equity at 16.4%. Operating income also improved by 10.4% year-on-year to close at N293.7 billion, up from N265.9 billion achieved in the corresponding period of 2019.


The Bank continues to maintain a very strong balance sheet, with Total Assets of N7.1 trillion, a 26% increase over the N5.6 trillion recorded at the end of December 2019. UBA benefitted largely from its technology-led initiatives targeted at improving customer experience over the past few years, as Customer Deposits leaped to N5.2trillion from N3.8 trillion at the end of the last financial year. The shareholders’ funds remained very strong at N655.3 billion rising by 9.6% from N598.0 billion recorded in December 2019, thus reflecting a strong capacity for internal capital generation and growth.


Commenting on the results, the Group Managing Director/CEO, UBA Plc, Kennedy Uzoka, said, “In spite of the current turbulence in the operating environment, occasioned by the global pandemic, we have continued to record significant progress in our business segments. Notably, our innovative financial inclusion propositions have helped us moderate cost-of-funds to 3.2% (4.0% in FY 2019), as low-cost deposits (which accounts for 76.2% of our customer deposits) grew 40.8% by the end of the third quarter. Our Direct Sales Agents, Agency Banking Network, and Digital Banking propositions have positioned us at the forefront of financial inclusion across geographies where we operate,” Uzoka stated.


He pointed out that during the period under review, the Bank was able to provide support to customers across its footprint, assisting them to navigate the negative impact that Covid-19 pandemic has had on livelihoods, businesses and social life, adding that “since March 2020, we have provided transaction fee waivers to customers, rescheduled loans where business cashflows have been impacted, and donated generously to governments and communities to help catalyse a comprehensive pan-African response to the fight against the COVID-19 Pandemic.”


Speaking on the expectations for the rest of the year, Uzoka said, “whilst the outlook for the rest of 2020 is expected to remain challenging, our diversified model provides sufficient resilience, enabling us to continue to delight our customers with innovative banking products within our robust risk management framework.”


Also throwing more light on the Bank’s financial performance and position, the Group CFO, Ugo Nwaghodoh said: “we achieved substantial growth in the underlying business, having grown loans by 15.6% (to N2.4trillion) and deposits by 35.7% (to N5.2trillion) within the period as interest and fee income from loans settled at N172.9 billion and N8.9billion respectively. Credit impairment charges increased by N4.8billion YoY (to N11.5billion), providing adequate reserve for impaired loans, which should help moderate the need for further reserves later in the year. NPL ratio and cost-of-risk settled at 5.2% (5.3% in FY 2019) and 0.64% (0.9% in FY 2019) respectively.


“As we deploy rigorous balance sheet management strategies to protect our margins, we will sustain cost discipline to push cost-to-income ratio to our desired sub-60% target in the short-term. The Group continues to target 15% loan growth, a NIM of >6.0% and ROE of >16% for the 2020 financial year, but targets remain subject to the evolution of the COVID-19 pandemic and its implications on the operating environment”, the GCFO explained.     



Reach Us
You Have Story For Us?.. Reach....Ayobami Adedeji Editor-in-Chief,
www.urbanlifeng.com on +2348099400173,+2348111813057
e-mailayobami2adedeji@yahoo.com, urbanlifeng@gmail.com