UBA: We’ll continue to expand services beyond Africa, increase capital inflow into Nigeria

Oliver Alawuba, group managing director (GMD) of United Bank of Africa (UBA), says the bank will continue to expand beyond Africa to increase capital inflow into Nigeria.

Alawuba said this on Wednesday at the bank’s closing gong ceremony on the floor of the Nigerian Exchange Limited (NGX).

According to him, the bank is well positioned to leverage its increased visibility and pan-African features to increase shareholders’ value consistently.

“We are expanding our services beyond Africa, bringing in capital inflow and investment into Nigeria and Africa,” he said.

“Africa constitutes over 50 percent of our revenue and we will do more.

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

On his part, Temi Popoola, CEO of NGX, encouraged UBA and other private issuers to utilise the NGX platform in meeting future financing needs to support their business expansion in line with their overall corporate strategy.

He emphasised the digital strategy of the Exchange and its commitment to leveraging technology to drive retail participation and increase liquidity in the market.

He said the successful introduction of the first digital offer platform attracted a large amount of retail participation, encouraging UBA to take advantage of the digital platform for future equity capital formations and to broaden its shareholding structure.