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Half Year: UBA Grows Earnings by 40% to N1.37 trillion, Declares Interim Dividend of N2.00 Per Share

….Total Assets up by 37.2% to N28.3 trillion
Customer Deposits hits N23.2 trillion, climbs 34%
Makes Profit Before Tax of N401.6bn
Africa’s Global Bank, United Bank for Africa (UBA) Plc has released its audited financial results for the half year ended June 30, 2024, showing impressive performance across some key financial indicators.
The audited financials released to the Nigerian Exchange Limited (NGX) on Monday, showed that the bank recorded double-digit growth in its gross earnings and operating incomes.
At the end of the first two quarters of the year, and despite the tough global macroeconomic climate in Nigeria as well as the geo-political environment challenges across major countries in Africa where the bank has subsidiaries, UBA recorded a 39.6 per cent increase in its gross earnings, which rose from N981.77 billion in 2023 to N1.371 trillion in June 2024.
Interest income also increased by 134.3 per cent to N1.003 trillion up from N428.2 billion recorded in June last year, while total assets went up by 37.2 per cent from N20.6 trillion in December 2023 to close at N28.3 trillion. Customer deposits, also leapt by 33.7 per cent in the same period to close at N23.2 trillion up from N17.3 trillion recorded at the end of 2023.
The results filed showed that profit before tax(PBT) which stood at N403 billion in June 2023, closed the half year at N402 billion, while profit after tax(PAT)dropped slightly from N378 billion to N316 billion in the year under consideration. However, the banks’ shareholders funds increased by 47 per cent from N2.03 trillion in December 2023, to N2.99 trillion.
In line with the bank’s culture of paying both interim and final cash dividend, the Board of Directors of UBA Plc has declared an interim dividend of N2.00 per share for every ordinary share of N0.50 each held by its shareholders, representing 300% increase compared to the N0.50 declared in the similar period of 2023.
UBA’s Group Managing Director/Chief Executive Officer, Mr. Oliver Alawuba, while commenting on the results underscored the bank’s commitment to consistently deliver value to its shareholders. He said, “UBA Group has continued to deliver strong double-digit growth in high quality and sustainable banking revenue streams, driven by a focused growth in balance sheet, transaction and digital banking businesses across geographies in line with our strategic goals.”
Continuing, the GMD said, “The Group’s performance has been buoyed by consistent strong growth in all core and sustainable banking income lines. Our intermediation business showed strong growth with net interest income expanding by 143% YoY to N675billion”.
On the plans for the rest of the year, Alawuba said, “As the Group intensifies its customer acquisition drive, we are making significant investments in technology, data analytics, product research and innovation to enhance our value proposition and customer experience.”
The Executive Director Finance & Risk, Ugo Nwaghodoh, expressed delight at the milestone achieved by the bank in driving operational efficiency, as reflected in cost-to-income ratio normalizing around the 50% range.
“Our cost optimization provides scope for further moderation, as we explore options towards a drastic reduction of our foreign currency denominated cost components, robotizing and automation of processes and application of artificial intelligence to our operations,” he stated.
He disclosed that the Group will focus on effectively managing the heightened credit, operational, cyber and information security risks, as it continues to conduct its business within the tenets of our moderate risk appetite in alignment with our sustainability goals.
“The Group has made significant progress and is on course to shore up its share capital to support its medium to long term aspirations, whilst aligning with the recent regulatory requirement in Nigeria and other jurisdictions. that we operate in,” Nwaghodoh further explained.
United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than thirty-five million customers, across 1,000 business offices and customer touch points in 20 African countries. With presence in New York, London, Paris and Dubai, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.
politics
Update : Lagos Crisis: Details on how DSS interfered in legislative affairs in LSHA, says Hon. Ogundipe.

Our attention has been drawn to a publication by the Department of State Security (DSS) regarding a letter dated 14th February 2025,
“Enhanced Security Measures for LSHA,”
Earlier today, lawmakers and staff of the Lagos State House of Assembly arrived at the Assembly complex to find the offices of the Speaker, the Deputy Speaker, and the Acting Clerk of the House locked and access restricted by operatives of the DSS. Furthermore, the legislative chamber itself was sealed off.
In an apparent effort to justify their actions, the DSS released to the public a letter written by the Acting Clerk of the House, requesting security presence at the Assembly complex.
We wish to categorically state that this is not the first time the House has sought security support from the DSS.
However, it is important to emphasize that in all previous instances, DSS operatives have been stationed at the main gate of the Assembly complex, ensuring that unauthorized persons do not gain entry.
For the avoidance of doubt, at no point did the letter requesting security assistance instruct the DSS to:
– Invade the legislative chamber
– Lock and restrict access to the Speaker’s office
– Lock the office of the Acting Clerk
– Lock the Deputy Speaker’s office
The events of today raise serious concerns about undue interference in legislative affairs. The sanctity of the Lagos State House of Assembly was undermined by armed DSS operatives who actively obstructed lawmakers from performing their constitutional duties.
This act amounts to an infringement on the independence of the legislature and a direct assault on democratic governance.
We reiterate that the lawmakers of the Lagos State House of Assembly have taken a decisive and lawful step in the removal of the former Speaker, Mudashiru Ajayi Obasa. We stand firmly behind the leadership of the Rt. Hon. Speaker, Mojisola Lasbat Meranda, and remain resolute in our commitment to enacting laws that foster the development and progress of Lagos State.
We call on all relevant authorities to investigate this unwarranted restriction on legislative activities and ensure that such incidents do not recur.
*E-signed*
Hon. (Otunba) Ogundipe Stephen Olukayode
*Chairman, House Committee on Information, Strategy, and Security*
Uncategorized
Access Bank Lagos City Marathon 2025: A Tribute to Legacy, A Celebration of Resilience

Lagos gears up for the highly anticipated Access Bank Lagos City Marathon on Saturday, February 15, 2025, excitement and emotion run high. This year’s edition is much more than a race, it is a moving tribute to legacy and a celebration of resilience. Under the evocative theme “Miles to Memories,” every stride taken by the runners transforms physical distance into lasting recollections, blending athletic endurance with heartfelt remembrance of a visionary leader.A Race that Transcends the Finish LineSince its inaugural run in 2016, the Access Bank Lagos City Marathon has evolved from a local initiative into a global phenomenon. Originally established by Access Bank in collaboration with the Lagos State Government to promote healthier lifestyles, the event has grown into a symbol of unity, progress, and economic vitality for both Lagos and Nigeria. Today, the marathon not only places Lagos on the global sporting map but also showcases how major sporting events can drive tourism and stimulate business growth. As a Gold Label Marathon certified by the Association of International Marathons and Distance Races (AIMS), it stands as a testament to the powerful synergy between sport, community, and commerce.Local businesses, from hotels and restaurants to vendors and transport providers, thrive during the marathon weekend, benefiting from increased patronage as communities come together to support and celebrate the event. This collective participation reinforces the idea that when people unite around a common purpose, the rewards are shared by all.Honoring a Visionary: Remembering Herbert WigweThis year, the marathon carries added emotional significance. It marks the first anniversary of the passing of Herbert Wigwe, the late Group Chief Executive Officer of Access Holdings PLC, who was a transformative force behind the event. On the morning of February 10, 2024, a tragic helicopter crash claimed the lives of Herbert Wigwe, his wife, his son, and Abimbola Ogunbanjo, the former Group Chairman of the Nigerian Exchange Group PLC. The loss sent shockwaves throughout the nation, leaving an indelible void in the hearts of many Nigerians.Despite the deep sense of loss, Herbert Wigwe’s legacy continues to inspire. In the wake of the tragedy, concerns arose that Access Bank might reconsider its sponsorship of the marathon. Instead, in a poignant gesture of remembrance and commitment, Access Bank, together with the Lagos State Government, has reaffirmed its support for the marathon. This enduring dedication ensures that Wigwe’s dreams and aspirations remain an integral part of every step taken by the runners.
www.accessbankplc.com
“Miles to Memories”: A Journey of Emotion and EnduranceThe theme “Miles to Memories” perfectly encapsulates the spirit of this year’s marathon. It suggests that every mile covered is imbued with personal and collective memories, reminders of challenges overcome, of unity celebrated, and of hope nurtured for a better future. For many participants, the race is a chance to commemorate Herbert Wigwe, whose visionary leadership not only transformed Access Bank but also reshaped the sporting landscape of Lagos. His enduring commitment to community development, healthy living, and economic empowerment continues to serve as a beacon for all who aspire to make a positive impact.Each runner’s journey on the race day acts as a bridge between past and future, where the physical act of running becomes a metaphor for overcoming adversity and building a hopeful tomorrow. The event stands as a tribute not only to athletic excellence but also to the unyielding human spirit that continues to rise in the face of loss.From Humble Beginnings to Global ProminenceWhen Access Bank and the Lagos State Government first partnered in 2016 to host the marathon, their goal was simple: to encourage a healthier lifestyle among Lagosians. Under Herbert Wigwe’s visionary leadership, the event quickly grew in stature. Today, it has attracted over 600,000 registered athletes from 14 countries, establishing itself as one of Africa’s most prestigious road races. This remarkable evolution is a testament to the power of visionary leadership, community engagement, and a relentless pursuit of excellence.The marathon’s growth from a local initiative to a globally recognised event highlights how passion and determination can transform a modest idea into an internationally celebrated movement. Lagos has firmly established itself as a marathon city renowned for its energy, hospitality, and unwavering commitment to progress.Herbert Wigwe’s Vision: A Marathon for Unity & ProgressHerbert Wigwe’s influence on the Access Bank Lagos City Marathon remains as palpable today as ever. During the 2021 edition, he stated:“As one of the leading banks in Nigeria and indeed Africa, it is imperative for us to support the economic and social development of the communities in which we operate. Hence, we have sponsored the Access Bank Lagos City Marathon to make Lagos more attractive to tourists and investors alike. We have also used this platform to create jobs and opportunities for thousands in the state.”These words, imbued with hope and ambition, continue to guide the event. More than merely a race, the marathon has become a living legacy of Wigwe’s unwavering
www.accessbankplc.com commitment to community development and the transformative power of sport. His visionary approach has paved the way for countless initiatives that enrich lives, create employment opportunities, and foster pride and unity among Nigerians.Herbert Wigwe’s legacy is not confined to history, it lives on in the hearts of those he touched and in the strides of every runner who participates in the marathon. His vision for a healthier, more prosperous Lagos inspires all, ensuring that his contributions will never be forgotten. Every cheer from the crowd, every drop of sweat on the pavement, and every moment of reflection during the race stands as a tribute to a man dedicated to progress, unity, and excellence.The Access Bank Lagos City Marathon 2025 is more than a sporting event—it is a movement that transforms challenges into triumphs and distances into memories. It celebrates life, resilience, and the indomitable spirit of a community marching forward, one determined step at a time.Sponsors: The Pillars Behind the MarathonCentral to the success of the Access Bank Lagos City Marathon are its dedicated sponsors. Access Bank, the major sponsor, has remained steadfast in its commitment to community development, ensuring that the marathon continues to be a platform for positive change. In partnership with the Lagos State Government, the event has grown into a major contributor to the local economy and an enduring source of inspiration for athletes and citizens alike.Their unwavering support has been crucial in maintaining the high standards of the marathon, including its prestigious Gold Label status from AIMS. This commitment not only honours Herbert Wigwe’s legacy but also ensures that the marathon continues to inspire future generations to embrace a healthy, active lifestyle while cherishing the memories forged along the way.Community, Commerce, and the Spirit of ResilienceThe Access Bank Lagos City Marathon is a celebration of more than athletic prowess, it is a testament to the power of community and the resilience of Lagosians. The event has consistently demonstrated that when communities unite, remarkable achievements are possible. By boosting local tourism and generating business opportunities, the marathon has had a transformative impact on the city’s economy.During marathon weekend, local businesses such as hotels, restaurants, and retail outlets experience a surge in activity as visitors from around the globe flock to Lagos. At the same time, the event showcases the city’s vibrant culture on an international stage, reinforcing the idea that sport and commerce can work hand in hand to drive progress.
www.accessbankplc.com The Journey Ahead: Legacy, Resilience, and UnityAs runners prepare to take to the streets of Lagos on February 15, 2025, the atmosphere is charged with a profound sense of purpose. The marathon is not just a competition; it is a journey of remembrance and unity, where every stride honors the memory of Herbert Wigwe and every mile becomes a cherished memory. The theme “Miles to Memories” reminds participants that the race is as much about personal triumph as it is about collective resilience and hope.In the face of past tragedies and challenges, the marathon stands as a beacon of hope. It is a day when the nation comes together to celebrate life, honor legacy, and build a future founded on unity and progress. Each runner carries with them the spirit of determination and the memory of a leader who believed in the power of community and the strength of collective ambition.In celebrating “Miles to Memories,” the Access Bank Lagos City Marathon 2025 encapsulates the journey from loss to legacy, from grief to hope, and from memories to future milestones. With the steadfast support of sponsors like Access Bank and the Lagos State Government, this marathon not only delivers an exhilarating athletic challenge but also forges enduring memories that will inspire generations to come.As the starting gun fires and runners take their first steps on the vibrant streets of Lagos, they are not merely participating in
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BREAKING: Supreme Court dismisses Fubara’s appeal against Amaewhule-led Assembl, Ordering the Representation of 2024 Budget

A five-man panel of the Supreme Court, led by Justice Uwani Abba-Aji, has dismissed an appeal filed by Rivers Governor, Siminalayi Fubara, challenging the leadership of the Rivers House of Assembly under Speaker Martin Amaewhule.
Delivering the ruling, Justice Abba-Aji imposed a cost of ₦2 million against Governor Fubara, payable to the Rivers Assembly as the first respondent and Speaker Martin Amaewhule as the second respondent.
The court’s decision to dismiss the appeal followed the withdrawal of the suit by Fubara’s legal counsel, Yusuf Ali.
With this ruling, the leadership structure of the Rivers Assembly under Amaewhule remains intact.
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