UBA revamps agency, merchant banking services

United Bank for Africa PlcThe United Bank for Africa Plc has introduced a new Aggregator Sales Structure for its RedPay POS and Agency Banking Network, aiming to strengthen its relationships with partners and promote greater financial inclusion throughout Nigeria.

The newly launched multi-benefit structure was unveiled at the inaugural UBA Aggregator Engagement Session, held at the bank’s head office in Lagos on Tuesday. The session, themed ‘POS-itive Impact: Connecting Agents, Merchants, and Customers’, served as a collaborative platform to align strategies for scaling the UBAMONI Agency Banking ecosystem and bringing together key industry aggregators, Point-of-Sale partners, and network managers.

UBA’s Executive Director Designate, Digital Banking, Emmanuel Lamptey, who spoke at the event, said, “Today’s session marks a pivotal step in our collective journey to democratise financial access in Nigeria.

By bringing together our valued aggregators and partners, we are strengthening the ecosystem that connects UBA directly to communities and ensuring that reliable financial services are within everyone’s reach.”

Emphasising the need for partnerships, UBA’s Head of Digital Banking, Shamsideen Fashola, who presented the keynote address, outlined the strategic imperative behind the new structure.

“Our aggregators are fundamental to realising our ambition of building Africa’s most impactful digital collections network. This structured framework is designed to be scalable, transparent, and mutually rewarding, empowering our partners with the technology and support needed to drive agent productivity as well as serve underserved communities effectively,” Fashola noted.

The lender said that the platform delivers comprehensive value to agents and aggregators alike, featuring instant settlement, reliable transaction processing, real-time dashboard reporting, and a full suite of services, including dispute and terminal management, analytics, card withdrawals, bill payments, and pay-with-transfer.

For aggregators specifically, the model provides a structured opportunity to onboard and manage agents within UBA’s network and access attractive incentives and commissions, as well as leverage a dedicated Aggregator Admin Portal for real-time visibility into agent performance and transactions.

Adetunji Iyiola, UBA’s Head of Agency Banking, highlighted the customer-focused nature of the initiative, saying the new structure significantly enhances collaboration between UBA, its merchants, and agents.

“This rollout is about creating superior value for every stakeholder and enabling better service delivery to customers while ensuring our partners have the tools and incentives to thrive. It reinforces our promise to deliver essential banking services exactly where they are needed most,” he said.

With the introduction of the aggregator framework, UBA further cements its leadership in pioneering innovative digital financial solutions that bridge the inclusion gap and drive economic empowerment across the African continent.

NDIC steps up debt recovery from failed banks

NDICThe Nigeria Deposit Insurance Corporation has vowed to fully use its enhanced enforcement powers granted by the NDIC Act 2023 to recover outstanding loans from debtors of failed banks.

This was disclosed by the Managing Director and Chief Executive of the NDIC, Mr Thompson Oludare, at a sensitisation seminar for Debt Recovery Agents in Lagos under the theme ‘Operationalising the Provisions of NDIC Act 2023 for Effective Debt Recovery’.

The NDIC Act 2023 empowers the corporation to take interim custody of any movable or immovable property of an obligor identified as the bona fide owner of the said property. The same act empowers the NDIC to freeze the funds of an obligor of a failed insured institution with any insured institution.

Oludare, who was represented by the Director of the Legal Department, Olufemi Kushimo, warned that the culture of loan defaults and protracted litigation used by debtors to stall payments would no longer be tolerated.

“We intend to utilise every section, provision, and enforcement mechanism available under the law. Those responsible for bank failures must be held accountable. We are prepared to apply every relevant provision of the Act to bring culpable parties to justice,” he said.

The new tools are designed to bypass the traditional hurdles of repeated court adjournments and “entrenched cultures of default” that have historically slowed down the liquidation of failed banks and mobile money operators.

The core objective of this aggressive recovery push is the prompt payment of liquidation dividends to depositors.

According to the Corporation, successful debt recovery is the only way to restore public confidence in the banking system

The Director of the Asset Management Department, Patricia Okosun, noted that while legal realities make it difficult to set a fixed timeline for all payments, the corporation is now better equipped than ever before.

“The essence of this engagement is to sensitise our agents to the new provisions that will support and improve their work,” Okosun said. “The earlier the recovery, the better, as it enables quicker reimbursement of depositors.”

Beyond just collecting money, the NDIC signalled that the 2023 Act serves as a deterrent. By pursuing “parties at fault”, the corporation aims to sanitise the banking industry and ensure that the consequences of bank failures are felt by those who caused them, rather than just the depositors.

 

Elumelu urges public-private synergy to boost African agribusiness

Tony ElumeluThe Chairman of Heirs Holdings, Tony Elumelu, has urged African governments to partner with the private sector to transform rural economies.

He made the call at the 49th IFAD Governing Council in Rome, according to a statement made available to The on Wednesday.

Elumelu identified electricity access, blended finance, and business education as the three pillars necessary to make agriculture a viable career for Africa’s youth.

Elumelu, who joined IFAD President Alvaro Lario on a panel at an event attended by 500 global leaders, including ministers, UN officials, and development experts, said: “We believe that increased collaboration and cooperation between government and the private sector, especially in Africa, are vital to catalyse more transformation in rural economies and agriculture, increasing food production. Food security is fundamental to societal development. We must work together to make rural economies more attractive. We need to make agriculture appealing and exciting. The youth seem eager to embrace it, but they require more support from all of us.”

Highlighting the success of the Tony Elumelu Foundation, he noted that 21 per cent of its 24,000 empowered entrepreneurs are in agribusiness, a sector where women lead 55 per cent of the ventures.

“Empowering women is akin to empowering entire communities and nations, leading to success,” he said. “These ventures have generated approximately 480,000 jobs across the continent.”

Elumelu emphasised that while seed capital is vital, “energy poverty” remains a massive barrier to the digital innovation required for modern food security, saying, “Access to electricity is essential for economic development and transformation. We cannot discuss AI without improving electricity supplies. Poor electricity access and energy poverty limit how much these young people can embrace technology.”

He urged governments to dismantle stifling regulations and high collateral requirements that currently hinder SME growth.

“In some countries, regulated environments…can be quite stifling. We need to engage governments…what benefits small-scale enterprises benefits the entire economy: jobs are created by SMEs, and we must ensure youth engagement,” he affirmed.

FG Has Not Stopped Enforcement On Sachet Alcohol, Says NAFDAC

The National Agency for Food and Drug Administration and Control (NAFDAC) has refuted a news publication alleging that the Federal Government has directed the Agency to suspend enforcement actions relating to the regulation of sachet alcohol and 200ml PET bottle alcoholic products.
As was contained in a press statement signed by Prof. Mojisola Adeyeye, NAFDAC  DG , ” the said publication is false, misleading, and does not reflect any official communication received by the Agency from the Federal Government.”
NAFDAC operates strictly within the ambit of its statutory mandate and in alignment with duly communicated Federal Government policies and directives. At no time has the Agency received any formal directive ordering the suspension of its regulatory or enforcement activities in respect of sachet alcohol products.
The Agency remains committed to safeguarding public health, ensuring regulatory compliance, and carrying out its responsibilities transparently and in accordance with established laws and due process.
Any decision affecting national regulatory actions will be communicated through official government channels.
NAFDAC therefore urges members of the public, industry stakeholders, and the media to disregard the false report and to rely only on verified information issued through the Agencys official platforms and authorised government communication channels.
The Agency also cautions against the dissemination of unverified information capable of causing unnecessary public anxiety, economic uncertainty, or misinterpretation of government policy.
NAFDAC remains steadfast in its commitment to public health, economic stability, and national interest.
Abure led hoodlums to vandalize our National HQ – LP faction alleges

The Nenadi Usman–led Caretaker Committee of the Labour Party, LP, has alleged that the Julius Abure faction vandalized the party’s headquarters on Tuesday night.

Recall that Nenadi-led faction backed by the Abia State Governor, Alex Otti, on Tuesday took over the party’s Secretariat in Abuja.

The move followed a Federal High Court ruling that recognised Nenadi as the Interim National Chairman of the party.

However, the Abure-led faction on Tuesday night allagedly stormed the facility and allegedly pulled down Nenadi’s billboard.

Nenadi group raised the alarm in a post on its official X account on Wednesday morning, describing the alleged invasion as a sad development.

The post reads, “Former and expelled Julius Abure led hoodlums to vandalize our National HQ and pulled down our billboard. Very sad”.

ADC clarifies position on Electoral Amendment Bill passed by Senate

The African Democratic Congress (ADC) has issued a clarification on its earlier reaction to the Electoral Amendment Bill passed by the 10th Senate.

In a follow-up statement, signed by the National Publicity Secretary of the party, Mallam Bolaji Abdullahi on Tuesday, the party explained that its initial response was based on early media reports suggesting that the Senate had passed a version of the bill that guarantees real-time transmission of election results.

According to the ADC, real-time electronic transmission of results is a long-standing safeguard needed to protect votes and preserve electoral integrity.

However, the party said more detailed reports later revealed that the bill, as passed, contains a controversial provision that introduces discretionary clauses.

The ADC noted that these clauses are capable of weakening the guarantee of real-time electronic transmission and could open the door to the manipulation of election results.

“In light of these facts now on record, the ADC wishes to clarify its position,” the party said.

The ADC stated that any provision in the electoral law that creates ambiguity, discretion, or technical loopholes around the transmission and collation of results undermines the integrity of elections.

“The credibility of elections rests not on assurances but on clear, unambiguous legal guarantees that protect the will of the people,” the statement said.

The party maintained that only an Electoral Amendment Act that clearly mandates real-time electronic transmission of results, can build public confidence and strengthen democracy.

The ADC urged the National Assembly to address and remove any provision that weakens this safeguard and align the final version of the bill with the recommendations of the Conference Committee on e-transmission of results.

“The ADC remains committed to standing with Nigerians in defense of transparent, credible, and verifiable elections,” the statement added.

Lagos Assembly, waterfront communities back Water City project after demolitions

Lagos State House of Assembly, in collaboration with representatives of waterfront communities affected by recent demolitions, have expressed support for the state government’s proposed Water City development for the impacted areas.

This position was reached as part of a five-point resolution agreed upon during a stakeholders’ meeting held on Tuesday evening at the Assembly complex in Alausa, Ikeja.

The discussions involved leaders from Makoko, Sogunro and Oko Agbon waterfront communities.

Briefing journalists after the meeting, the Chairman of the Adhoc Committee on Rules and Business and Majority Leader of the House, Mr Noheem Adams, explained that the Water City initiative is designed to serve the long-term interests of residents in the affected communities.

According to Adams, the state government will set up a 10-member committee drawn from the communities to carry out a self-enumeration of properties impacted by the demolitions.

He said the committee is expected to conclude the exercise within two weeks and submit its findings to the Adhoc Committee for further review.

He stressed the importance of openness and accuracy in the enumeration process, noting that information provided by the communities would be verified against existing government data.

Adams also directed stakeholders in Makoko to submit the names of their nominees for the committee to the House once constituted.

Reacting to the outcome of the meeting, the Baale of Sogunro Community, Chief Abraham Mesu, lauded the intervention of the Lagos State House of Assembly, describing it as timely and reassuring. He said the proposed Water City project has the potential to significantly enhance living conditions while ensuring that indigenous residents remain central to the redevelopment process.

Although he acknowledged the hardship caused by the demolitions, Mesu reaffirmed the community’s readiness to work with the state government to achieve a sustainable solution.

Similarly, the Baale of Makoko Waterfront, Chief Emmanuel Shemade, disclosed that community leaders had agreed to halt any rebuilding of demolished structures pending further directives. He expressed satisfaction with the assurances given at the meeting, particularly regarding plans to regenerate the area without forcing residents out of their ancestral communities.

Shemade also commended the state government’s commitment to provide an aerial survey image within one month, clearly outlining the extent of the demolished areas.

Earlier at the meeting, the Special Adviser to Governor Babajide Sanwo-Olu on Geographic Information Services, Dr Olajide Babatunde, said the Water City project forms part of a broader regeneration strategy for the waterfront settlements.

He noted that the initiative was informed by concerns over congestion and substandard living conditions, adding that provisions had been made to ensure affected residents receive appropriate compensation.

CMDs blame budget cuts as Reps faults teaching hospitals over poor research funding

Chief Medical Directors (CMDs) of federal tertiary health institutions have attributed poor funding for medical research to budgetary constraints and repeated cuts during the budgeting process, as the House of Representatives criticised teaching hospitals for allocating less than one per cent of their budgets to research.

Speaking on behalf of the Committee of Chief Medical Directors, the Secretary of the committee and Chief Medical Director of the Jos University Teaching Hospital, Prof. Pokop Bupwatda, told lawmakers that although research is usually captured in hospital budget proposals, the allocation is often removed before final approval.

Bupwatda said limited funding has weakened the capacity of teaching hospitals to carry out meaningful research, despite their statutory mandate as centres of medical innovation and training.

He called for increased funding for the health sector to enable the recruitment of qualified manpower and improved staff welfare, warning that poor conditions of service have worsened the ongoing “japa syndrome” among medical professionals.

According to him, many federal hospitals are critically understaffed, particularly with medical doctors, and even when approvals are granted to recruit, few doctors apply. He added that despite these challenges, existing personnel have continued to provide quality healthcare services and deserve commendation.

Bupwatda also raised concerns over operational challenges facing tertiary health institutions, including the release of only about 30 per cent of the 2025 budget to federal teaching hospitals and medical centres, a development he said has constrained service delivery despite efforts by the House to improve budgetary allocations.

He identified power supply as a major financial burden, noting that hospitals spend huge sums on electricity due to the need for constant power to run critical equipment. According to him, federal hospitals currently operate under Band A electricity tariffs, further increasing costs alongside the expense of running generators.

However, the House of Representatives faulted the CMDs for failing to prioritise research during budget preparations. The Chairman of the House Committee on Health Institutions, Dr Patrick Umoh, said teaching hospitals had allocated less than one per cent of their budgets to research and had not consistently pushed for improved research funding.

Umoh expressed disappointment that many teaching hospitals now operate like general hospitals, rather than research-driven institutions, warning that the neglect of research undermines the country’s health system.

“Teaching hospitals are supposed to be centres of research. You have never raised the issue of lack of funding for research, but you talk more about infrastructure. That makes you part of the problem,” he said.

He added that the COVID-19 pandemic exposed the sector’s poor research preparedness, noting that none of the hospitals visited during oversight functions had showcased functional research centres.

Police disburse N29.6m to families of deceased officers in Sokoto

Sokoto State Police Command has disbursed N29.6 million in Group Life Assurance benefits to families of officers who died or sustained serious injuries in the line of duty.

The cheques, totalling N29,638,584.78, were presented to 10 beneficiaries on Tuesday.

The presentation was carried out on behalf of the Commissioner of Police, Ahmad Musa, by the Deputy Commissioner of Police in charge of Finance and Administration, Umar Sokoto, alongside members of the command’s management team.

Umar said the payment was part of the Nigeria Police Force’s Group Life Assurance Scheme aimed at providing financial support to families of deceased officers.

He urged the beneficiaries to make prudent use of the funds to support their households.

Speaking on behalf of the beneficiaries, Mrs Hamimatu Ahmad, widow of one of the deceased officers, expressed appreciation to the police authorities for the intervention.

The command said the disbursement forms part of ongoing welfare efforts for personnel and families of officers who died in active service.

Suspected kidnappers arrested in Kwara community

Scores of suspected kidnappers were arrested Tuesday evening at Olayinka along Ajasepo/Igbaja/Oke-Ode highway in Ifelodun Local Government Area of Kwara State, DAILY POST reports.

The suspects allegedly fled Baba Sango after intelligence revealed that bandits’ informants were posing as beggars and roaming towns and villages across Kwara South Senatorial District.

Coordinator, Joint Security Watch Kwara South Senatorial District, Zubair Olaitan, confirmed the development to DAILY POST on Wednesday.

The arrest is part of the ongoing efforts by security operatives to combat crime in Kwara state.

“We got intelligence that bandits from Baba Sango and Oro-Ago are spreading out to other parts of Kwara South.

“One of their informants, disguised as a beggar, was caught in Igbaja yesterday.

“He spilled that his sponsors are operating from Kaara Market, Ajasepo, and Olayinka near Oke-Ode. He’s been handed over to Anti-Kidnapping Squad, AKS. Time for swift action,” Olaitan said.