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United Bank of Africa (UBA) Plc promised that the bank’s strategic investments and development into Africa and beyond would increase its revenue and result in a sizeable dividend payout to shareholders. 

This was said at the Bank closing gong ceremony on the floor of the Nigerian Exchange (NGX) Limited by Oliver Alawuba, the new group managing director of UBA. 

According to him, the bank is in a good position to take advantage of its greater visibility and pan-African traits in order to steadily raise shareholders’ value.

He claims that the bank is extending its services outside of Africa and attracting investment to Nigeria and the continent. The management will continue to focus more on Africa, which accounts for over 50% of the bank’s revenue.

We will pay more dividend and grow our capital base. The bank has a future and we will continue to ensure that the shares of UBA continue to grow

Temi Popoola, the CEO of NGX, congratulated Alawuba on his recent promotion as the group managing director/chief executive officer of UBA and praised him for his distinguished career, which has included more than 25 years of professional experience in the banking sector.

He urged UBA and other private issuers to use the NGX platform to satisfy their future funding needs in order to assist their corporate strategy-aligned business expansion. 

He emphasized the Exchange’s commitment to utilizing technology as part of its digital strategy to promote retail participation and boost market liquidity. 

He claimed that once the initial digital offer platform was introduced successfully and drew a sizable amount of retail involvement, UBA was inspired to use the digital platform to raise further equity capital and diversify its shareholding structure.



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