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NOVA Merchant Bank Confirms Appointment of Anya Duroha as Substantive MD/CEO

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Anya Duroha

The Board of NOVA Merchant Bank has confirmed the appointment of Mr. Anya Duroha as the substantive Managing Director/Chief Executive Officer.

 

The Board’s confirmation made at its meeting of Thursday, December 6, 2018, is subject to the approval of the Central Bank of Nigeria.

Mr. Anya Duroha has been in Acting capacity since August 30, 2018.

Anya Duroha

MD/CEO Nova Merchant Bank, Anya Duroha

Commenting on the appointment, Phillips Oduoza, Chair man of NOVA Merchant Bank said “The Board believes that Anya has the necessary attributes to successfully lead the team of young professionals and execute on the Bank’s strategy. He is a well rounded Banker with requisite experience and knowledge in key areas of banking having started his career in operations and systems. It is expected that he will bring his over twenty-five years relationship management experience and performance driven focus to achieve the vision of the Bank”.

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Anya Duroha, the CEO, commented “I am honored to be appointed the CEO of an organization that is designed to deliver high quality services and innovative financial solutions to clients. I will do my best to develop our young talents into world class leaders and drive innovations in the industry”.

Anya has previously served as the Executive Director, Wholesale Banking, responsible for development and management of the Bank’s corporate banking relationships. He has also held senior executive positions at various banks in the industry.

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He holds an M.Sc. in Banking & Finance from the University of Benin and a B.Eng. in Civil Engineering from the University of Nigeria, Nsukka. He is an alumnus of Wharton Business School, University of Pennsylvania and Lagos Business School.

NOVA is a newly licensed merchant bank focused on providing wholesale and investment banking services. It commenced business in 2017 and recently implemented a state of the art digital core banking application platform. Its vision is to provide financial solutions to clients across different market segments.

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UBA Foundation Celebrates International Day of the African Child, with Special Reading, Mentoring Sessions

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Head, External & Media Relations, United Bank for Africa(UBA) Plc, Mr. Nasir Ramon; General Manager, Corporate Bank, UBA, Muyiwa Akinyemi; Chief Credit Officer, UBA Africa, Franklin Erebor; Group Head, Human Resources, UBA, Patricia Aderibigbe; and Professional Teacher and Guest, Mr. Adeniyi Kunnu, flanked by secondary school students during the special Read Africa session organised by UBA Foundation to commemorate 2019 International Day for African Child held at UBA House on Monday

UBA Foundation, the corporate social responsibility arm of United Bank for Africa (UBA) Plc, on Monday, joined the rest of the world to celebrate the International Day of the African Child.

The day which has been set aside by the United Nations to celebrate children in Africa, recognises the courage of students who marched for their right to better education in Soweto South Africa, and is marked annually on June 16th.

UBA Foundation brought together students from various secondary schools in Lagos to the Tony Elumelu Amphitheatre in the UBA Head Office, where they were educated on various issues, ranging from financial literacy, importance of reading culture and nation building.

Some schools which were represented at the event included Akande Dahunsi Memorial High School, Lagos; Government Senior College, Maroko, Aunty Ayo International School Ikoyi and Wahab Folawiyo Senior High School, Ikoyi.

UBA’s Group Head, Human Resources, Mrs Patricia Aderibigbe who welcomed the students, said that UBA Foundation centres on three key pillars: Education, Empowerment and Environment.

Throwing more light on this, she explained that the bank, through its foundation, recognises the huge role that education and indeed a good reading culture has to play in the lives of the youth.

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She said, “The UBA Foundation is committed to impacting the lives of the African youth across the continent. As a pan-African institution, we believe that the future of Africa lies in her youth. For this reason, UBA Foundation is actively involved in facilitating educational projects and bridging the literacy-wide gap on a pan-African scale.

“The UBA Foundation is helping rekindle the dwindling reading and literacy culture amongst African youths as they pursue their education. Over time we have worked with various schools and educational institutions across the continent to ensure that the UBA Foundation continues to traverse the continent, contributing positively to the development of African youth, especially in the area of education,” she added.

She explained that the bank through its foundation, aims to make sustainable improvements in the lives of the needy and under-privileged by supporting entrepreneurship programmes, such as social entrepreneurship schemes which benefit the community at large.

On his part, the Chief Credit Officer, UBA Africa, Mr. Franklin Erebor, who spoke briefly on financial literacy and the need to plan for the future, told the pupils that it is important for them to manage their funds and finances.

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He said, “You are not too young to start to plan for the future, as what you do now when you are young will impact greatly on you later in live. So it is essential that you have an account which should be well monitored to ensure that it fulfils the purpose.

“You need to be financially literate, as this will help to open your eyes to the opportunities inherent and help you make wise decisions to benefit from the investments,” Erebor said.

The UBA top officials had a brief reading session where they read to the students and engaged them in reading a number of passages from select reading materials.

As a Pan African Institution, UBA is in the forefront of promoting Africa and African values, especially in the areas of economic development for the continent.

Recently, the bank also held its UBA Conversations, an annual event commemorating the Africa Day, where African icons contributed to discussions around changing the African narrative and growing the continent.

 

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We Must Join Hands to Lift Our Young Ones from Poverty to Prosperity – Tony Elumelu

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: Former Head of State, Gen. Yakubu Gowon; Chancellor, Bayero University, Kano(BUK), and Amanyanabo of Tom Brass, King Alfred Diete-Spiff; Founder, The Tony Elumelu Foundation and Group Chairman, United Bank for Africa (UBA), Tony Elumelu; and Chancellor, Chairman, Governing Council, BUK, Professor Ibrahim Gambari; and Vice Chancellor, BUK, Professor Muhammad Bello, during the conferment of Honorary Doctor of Business on Elumelu by BUK in recognition of his foremost contribution to the Africa’s economic development through the promotion of entrepreneurship and philanthropy……in Kano on Saturday

***As He Receives Honorary Doctorate Degree

Tony O. Elumelu, Founder Tony Elumelu Foundation and Chairman UBA Group and Heirs Holdings charged everyone to join hands to lift Nigeria’s youth from poverty to prosperity. He made this statement while receiving an Honorary Doctor of Business (Hon D.B) degree by one of Nigeria’s foremost universities, Bayero University, Kano.

Former Head of State, Gen. Yakubu Gowon; Chancellor, Bayero University, Kano(BUK), and Amanyanabo of Tom Brass, King Alfred Diete-Spiff; Founder, The Tony Elumelu Foundation and Group Chairman, United Bank for Africa (UBA), Tony Elumelu; and Chancellor, Chairman, Governing Council, BUK, Professor Ibrahim Gambari; and Vice Chancellor, BUK, Professor Muhammad Bello, during the conferment of Honorary Doctor of Business on Elumelu by BUK in recognition of his foremost contribution to the Africa’s economic development through the promotion of entrepreneurship and philanthropy……in Kano on Saturday

 

According to the Vice Chancellor, Bayero University, Prof. Muhammad Yahuza Bello, Elumelu’s conferment was in honour of his immense contribution to human capital development across Africa and especially in Northern Nigeria. Through the Tony Elumelu Foundation, Africa’s leading philanthropy empowering entrepreneurship which he founded in 2010, he has empowered 7520 entrepreneurs across Africa; almost 1000 of the entrepreneurs are from Northern Nigeria. In addition to the current beneficiaries, United Nations Development Programme (UNDP) recently partnered with Tony Elumelu Foundation to empower an additional 1,000 African entrepreneurs from the seven countries in Africa’s Sahel and Lake Chad regions, including the Northern Nigerian region. By the end of 2019, total beneficiaries of the Tony Elumelu Foundation will be 8,520.

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In his acceptance speech, Elumelu emphasized the importance of collaboration between the public and private sector to create more jobs on the continent. According to him, “Our young people need jobs that governments and big corporates alone cannot provide. By promoting entrepreneurship, creating favourable policies and building infrastructure to help these entrepreneurs, we enable them to create jobs, and become employers of labour”.

Elumelu commended the declaration made by the President of Nigeria, H.E President Muhammadu Buhari on Nigeria’s Democracy Day to lift 100million lives out of poverty. He stated that job creation and entrepreneurship will help to achieve this goal.

Elumelu said: “There are a variety of ways to lift 100 million citizens from poverty, but two stand out. We can increase the number of jobs in the economy or we can create more opportunities for our young entrepreneurs to transform their ideas into small businesses that employ labour.”

He added: “By promoting entrepreneurship, creating favourable policies and building infrastructure to help these entrepreneurs, we enable them to create jobs, and become employers of labour”.

Elumelu has been an active advocate for entrepreneurship as the key to catalysing the economic development of Africa. He has achieved this through empowering African entrepreneurs in the Tony Elumelu Foundation’s flagship Entrepreneurship Programme. In 2010, Elumelu and his family committed $100million to identify, train, mentor and fund 10,000 African entrepreneurs in 10 years Half-way through the commitment, he has empowered 7,520 African entrepreneurs across 54 African countries who have received $5,000 non-refundable seed capital, access to mentors and an intensive 12-week business training; a commitment which the President in his address said enviably complements some of the government-led initiatives aimed at enhancing the capital base of small businesses.

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During the conferment, the Dean, School of Postgraduate studies, Bayero University, Professor Umar Pate commended Elumelu’s commitment to lifting young Africans out of poverty. In his citation he spoke of Elumelu as “an illustrious son of Africa that has excelled at home and abroad, an economist that has empowered countless people through job creation and philanthropy, and a symbol of the African spirit of hope.”

Elumelu ended his speech by speaking on the importance of gender inclusion and a focus on quality healthcare and education to develop the over 60% of Africa’s population – the youth. “For Africa to avert a demographic catastrophe, and achieve sustainable growth, we must support gender inclusion, education, healthcare and entrepreneurship,” he said. “National prosperity can only come from widespread economic empowerment. This empowerment will come from inclusion, education, healthcare, and entrepreneurship.”

Other awardees were Senator Bello Hayatu-Gwarzo, LLD, Dr. Folake Solanke, the first female Senior Advocate of Nigeria, LLD and Prof. Abdulkadir Dangambo. Guests at the ceremony included HRH Sanusi Lamido Sanusi, the Emir of Kano; H.E. General Yakubu Gowon, Former Head of State; Chief Alfred Papapreye Diete-Spiff, Chancellor Bayero University Kano; H.E. Abdullahi Umar Ganduje OFR, Governor of Kano State; and the visiting Vice Chancellors from over 25 Nigerian universities.

 

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How FCMB Manager Defrauded Businessman Of N210m

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A businessman identified as Idris Mohammed has told a Zuba Upper Area Court Abuja, how he was defrauded by a First City Monument Bank (FCMB) manager, Lukman Bada, and his accomplice, Idris Yusuf.

According to the plaintiff, BADA and Yusuf allegedly defrauded him of N210 million.

According to the police charge sheet,  Bada of FCMB Bank Area 11 Abuja and Yusuf who does business at 112 T/G Shanu Farm Centre, Kano State were charged with criminal conspiracy, criminal breach of trust, cheating and forgery.

Testifying in court, Mohammed alleged that he sent N210 million through one Umar Abubakar, his business associate to Bada at FCMB Bank Area 11 branch, to transfer 500,000 Euros to his business partner in Europe.

He alleged that Bada never sent the money to his business partner in Europe.

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Mohammed, who was cross-examined by the defendant’s counsel Bala Dakum, told the court that the defendants refunded N50 million out of the 210 million he entrusted to them.

Testifying, Abubakar the complainant’s business associate, told the court that when he got to the bank, Bada told him that Yusuf had a domiciliary account in which the money can be transferred.

Abubakar told the court that Yusuf provided a Zenith bank account number 1014867991 of one Empire Gate Business solution LTD and the Naira equivalent of N 210 million was transferred to the account.

“We waited for a telex copy to relate the confirmation of transfer, from Yusuf’s FCMB account, as indicated in the transfer form.

“Bada sent a copy of the telex to my associate and we later discovered that no transfer was transferred to our beneficiary.

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“We discovered that the money was sent to a bank outside Nigeria; we brought this to the attention of Bada who assured us that there no problem,” Abubakar said.

Earlier, prosecution counsel, Francis Gabriel, told the court that sometime in December 2018 the defendants forged documents indicating that they made transfer of 500,000 euros to the complainant’s printer in Romania.

The prosecutor said during police investigation the defendants admitted committing the crime and N50 million was recovered from them.

He told the court that all efforts to recover the remaining balance of N162 million failed.

After hearing the testimonies, Judge Gambo Garba adjourned the case until July 2 for continuation of cross-examination.

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