Vice-President Kashim Shettima has described the United Bank for Africa (UBA) as a pacesetter in innovation, emerging markets, and generational ambition.
Speaking at a dinner to celebrate UBA’s 75th anniversary on Saturday night in Abuja, Shettima noted that celebrating an institution like UBA, which has outlived generations yet maintains the vibrancy of youth, is a rare occurrence.
He said:
“UBA is not what it is because of the age of its ideas. It is what it is because of the attention it pays to innovation. It also pays attention to emerging markets, shifting dreams, and the changing contours of generational ambition.”
Shettima praised UBA’s leadership, attributing the bank’s success to managing curiosity and maintaining relevance over the years.
He added:
“UBA’s staying power is owed to its pursuit of relevance. It serves millions, shapes economies, and influences the narrative of what an African institution can become when excellence is institutionalised and when well-intentioned dream-makers are in charge.”
Shettima specifically commended UBA Chairman, Tony Elumelu, for steering the bank to its enviable heights, saying:
“Elumelu has become a bridge between the old and the new, between the outdated and the emerging; he has won the trust of even the brilliant, digital generation.”
Earlier, Tony Elumelu expressed gratitude to the Vice President and acknowledged the bank’s foundational history.
He stressed the importance of honouring those who established UBA, saying:
“We all are under the shields because someone planted the tree. The foundation of UBA was laid by people before us; we are only taking it further.”
Elumelu linked UBA’s continued success to the positive transformation of Nigeria’s economy under President Bola Tinubu, expressing confidence in the future.
UBA’s Group Managing Director (GMD), Oliver Alawuba, also spoke at the event, highlighting UBA’s impressive journey:
Operating in 24 countries
1,000 business offices
Over 25,000 staff members
Over 45 million customers
He announced that UBA recorded:
Profit after tax: ₦766.6 billion
Total assets: ₦30.4 trillion
Shareholders rewarded with ₦5 per share dividend, representing a 14.5% dividend yield — the highest in the industry.
Alawuba said shareholders’ funds rose significantly from ₦2.030 trillion in December 2023 to ₦3.419 trillion in 2024.
He outlined a bold vision: UBA aims to establish a presence in every African country and expand to over 100 countries globally within the next 75 years.
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