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UBA Group Launches Full Banking Operations in the UK

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London, March 1, 2019, three weeks after the UBA group launched its operations in Mali, the global financial city of London hosted a high level gathering of business and public sector leaders on Thursday February 28, 2019, as the new UBA franchise, UBA UK was formally birthed in the United Kingdom amidst high expectations.

At the upscale ceremony which held at The Prestigious Shard in the city of London, UBA UK was formerly introduced to business leaders across Europe and Africa with a commitment from the UBA Group of its readiness to galvanise trade and commerce between Europe and Africa.

The formal launch is sequel to the authorization of the Prudential Regulation Authority(PRA) and the Financial Conduct Authority(FCA) for UBA UK Limited to carry out full scale wholesale banking across the United Kingdom.

With this launch, UBA Group further consolidates its unique positioning as the first and only Sub-Saharan African financial institution with banking operations in both the United Kingdom and the United States, thus reinforcing its strong franchise as Africa’s Global Bank, facilitating trade and capital flows between Africa and the world.

Speaking at the event, the Group Chairman, Mr. Tony Elumelu said the Group is excited by the authorization of the relevant regulatory authorities in the United Kingdom for UBA to upgrade its operation and further fulfil its aspiration of deepening trade and investments flows between Africa and Europe.

“The enhancement of our business in the United Kingdom is very timely and mutually beneficial for African and European corporates as well as respective governments. With the British and other European governments seeking new and improved measures to grow trade relations with Africa, we are enthusiastic on our positioning and capabilities in supporting corporates and government institutions to fulfil these lofty aspirations, which we believe are pertinent for the sustainable growth of both continents.”

Elumelu expressed that he is extremely pleased as UBA is living up to its mantra of being Africa’s global bank and positioning itself to support investors in key financial centres across the world.

Also speaking at the event, The Group Managing Director/CEO, Mr. Kennedy Uzoka, noted that, “UBA Group is the most efficient gateway for European corporates and institutions to access Africa, given the bank’s expansive network across most impact markets on the continent and its deep knowledge of the business terrains in Africa. According to him, “Simultaneously, we are serving the trade and capital needs of our African customers, who are seeking exposure to the European markets. With the upgrade of UBA UK Limited, we are excited to deepen our support to existing customers whilst also providing the leverage for new customers to effectively fulfil their cross-border transactions through UBA Group’s network.”


On his part, the CEO, UBA UK, Mr. Patrick Gutmann, said; “We are now on a stronger footing, as the authorization of the PRA and FCA for an enhanced business model affords us the opportunity to swell our capital and balance sheet as well as the broader UBA Group’s network across Africa. We welcome our existing and new customers to this new world of borderless opportunities, as we creatively serve our customers in meeting their international transaction needs.”

Some of the guests In attendance at the event were the President of Dangote Group, Alhaji Aliko Dangote; President, Afreximbank, Dr. Benedict Oramah; Former Prime Minister of Pakistan, H.E Shaukat Aziz; Member of the British House of Lords and Executive Committee Member of the All Party Africa Group, Rt. Hon Lord Anthony Tudor St. John amongst many others.

The event was not short on entertainment as one of Africa’s leading entertainer,s Dbanj performed to the admiration of guests including Star boy, Whiz Kid.

United Bank for Africa (UK) Limited, previously named UBA Capital (Europe) Limited offers a full suite of treasury services, cash management, correspondent banking, corporate lending and wholesale deposit products to professionals and eligible counterparties. In addition, UBA (UK) Limited offers all aspects of structured and trade finance; issuance, acceptance, confirmation and refinancing of Letters of Credit of different variations, including SBLCs.

UBA LAUNCH 1: – l-r: CEO, UBA UK, Mr. Patrick Gutmann; GMD/CEO, UBA Plc, Mr. Kennedy Uzoka; President, Dangote Group, Alhaji Aliko Dangote; Group Chairman, UBA Plc, Mr. Tony O. Elumelu; President, Afreximbank, Dr. Benedict Oramah; and CEO, UBA Africa, Mr. Victor Osadolor at the launch of UBA UK in London on Thursday

 

 

Abiodun​ Coker

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ZENITH BANK REINFORCES COMMITMENT TO AFRICA’S CREATIVE ECONOMY THROUGH CONTINUED SPONSORSHIP OF ART X LAGOS 2026

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Building on its support for ART X Lagos’ landmark tenth anniversary, the Bank continues its partnership with the fair, championing African artistic excellence, cultural heritage and emerging creative talent.

Zenith Bank Plc has reaffirmed its commitment to advancing Nigeria’s creative and cultural landscape through its continued sponsorship of ART X Lagos 2026, taking place from November 5-8, 2026, at Federal Palace, Lagos.

Building on its support for the fair’s landmark tenth-anniversary edition in 2025, the Bank returns as a Silver Sponsor for the 11th edition, reinforcing its commitment to platforms that celebrate African artistic excellence, preserve cultural heritage and create opportunities for emerging creative talent.

Founded by Tokini Peterside-Schwebig in 2016, ART X Lagos is a leading international cultural platform dedicated to showcasing contemporary art from Africa and its diaspora. Through its multidisciplinary programming, the fair has become an important platform for connecting artists, galleries, collectors and cultural institutions while promoting African creativity on the global stage. Since its inception, ART X Lagos has brought together artists and galleries from over 70 countries, welcoming participants from 170 nations worldwide.

The 11th edition of ART X Lagos will hold under the theme: A New Chapter, A New Decade, reflecting on the artists, architects, educators and thinkers who shaped modernism in Nigeria. The theme explores how cultural inheritance can inspire new forms of artistic expression and possibilities for the future.

Through its sponsorship, Zenith Bank supports the continued growth of ART X Lagos as an international platform for artistic exchange, cultural preservation and creative enterprise, strengthening connections across Africa’s creative ecosystem and fostering opportunities for growth and collaboration.

As part of its broader sponsorship of ART X Lagos 2026, Zenith Bank will support two key programmes: ART X ICON and The Masterclass. While ART X ICON celebrates the achievements and enduring contributions of Nigeria’s artistic pioneers, The Masterclass creates opportunities for emerging creatives to learn, engage and develop their practice.

In this 11th edition, the focus of ART X ICON is turned to pioneering Nigerian potter Ladi Dosei Kwali (1925–1984) with Ladi Kwali: Beyond the Vessel, conceived and developed by curator Dr Jareh Das.

Widely recognised as the face on Nigeria’s 20-naira note, Ladi Kwali is celebrated for her extraordinary contribution to Nigerian ceramics and her role in bringing traditional Nigerian pottery to international prominence. Drawing on generations of indigenous pottery knowledge, she developed a distinctive artistic practice that earned her international recognition.

Bringing together ceramics and archival materials from the National Museum in Lagos, alongside works from private lenders, Ladi Kwali: Beyond the Vessel offers a deeper exploration of the artist’s life, practice and enduring influence.

The exhibition will also feature works by women potters who worked alongside and after Kwali, including Kande Ushafa and Asibi Ido, as well as traditional pottery by Gbari, Nupe and Bida potters. Together, these works illuminate the artistic traditions Kwali inherited, the innovations she introduced, and the knowledge carried forward by subsequent generations.

Complementing ART X ICON, The Masterclass will place emerging artists in dialogue with Ladi Kwali’s legacy, creating an opportunity to explore the relationship between traditional artistic knowledge and contemporary creative practice.

The programme will select 10 emerging artists from across disciplines including painting, sculpture, photography, film, textiles, digital practice, performance and ceramics, providing opportunities for intimate conversations and meaningful engagement with established creative practitioners.

Speaking on the partnership, Dame Dr. Adaora Umeoji, OON, Group Managing Director/CEO, Zenith Bank Plc, commented:

“At Zenith Bank, we recognise that the growth of the creative economy requires both the preservation of our cultural heritage and sustained investment in the talents shaping its future. Our continued partnership with ART X Lagos reflects our belief in the importance of supporting platforms that celebrate African artistic excellence, strengthen cultural institutions and create opportunities for emerging creatives. We remain committed to supporting initiatives that unlock the economic and cultural value of Nigeria’s creative industry and enable African creativity to gain even greater recognition on the global stage.”

Tokini Peterside-Schwebig, Founder and Director of ART X Lagos, said:

“As ART X Lagos enters its second decade, we are immensely grateful for the continued partnership of sponsors such as Zenith Bank, whose support reflects a shared commitment to advancing Nigeria’s creative and cultural landscape. Partnerships like this are instrumental in sustaining our vision, deepening our impact and creating lasting opportunities for African creativity to thrive on a global scale.”

Beyond ART X ICON and The Masterclass, ART X Lagos 2026 will feature 15 exhibitors across its Main and Spotlight sections, alongside a diverse programme of Special Projects, including Ndidi Dike’s Residues of Past Encounters: 2024–2026, The ART X Library and Speakers’ Corner.

The fair’s wider multidisciplinary programme will also feature ART X Cinema, ART X Live!, ART X Talks, Art Across Borders and the Schools’ Programme, celebrating the breadth and diversity of contemporary creativity from Africa and its diaspora.

ART X Lagos 2026 takes place from 5–8 November 2026 at Federal Palace, Victoria Island, Lagos.

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Fidelity Bank, Humanitarian Affairs Ministry Support Vulnerable Households in Abuja

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Leading financial institution, Fidelity Bank Plc, has partnered with the Federal Ministry of Humanitarian Affairs and Poverty Alleviation to provide support to vulnerable households in Abuja through its Food Bank programme.

Launched in April 2023, the Fidelity Food Bank is one of the bank’s flagship Corporate Social Responsibility (CSR) initiatives. The programme seeks to combat hunger and malnutrition by supporting communities affected by food insecurity. Since its introduction, more than 300,000 food packs have been distributed to beneficiaries across Nigeria’s six geopolitical zones.

Speaking at an event held recently in Abuja to commemorate the 2026 International Day for the Eradication of Poverty, the Managing Director and Chief Executive Officer of Fidelity Bank Plc, Nneka Onyeali-Ikpe, represented by the bank’s Divisional Head of Public Sector, Richard Madiebo, said the bank’s interventions extended beyond food distribution to entrepreneurship support and other empowerment programmes designed to help individuals and families achieve economic independence.

According to Onyeali-Ikpe, Fidelity Bank’s commitment to community development spans approximately three decades, reflecting its longstanding dedication to improving the wellbeing of its host communities.

“Fidelity Bank has always aligned its CSR programmes with the needs of its host communities. We understand the importance of private sector participation in addressing poverty and promoting inclusive development.

“We have delivered 2,000 food packs to residents of Abuja. There are several other initiatives that the ministry and the bank are discussing, and we will allow the ministry to provide further details at the appropriate time,” she said.

Also speaking at the event, the Minister of Humanitarian Affairs and Poverty Reduction, Bernard M. Doro, commended Fidelity Bank for contributing to efforts to improve the welfare of vulnerable Nigerians. He also called for stronger collaboration between the government and the private sector to address multidimensional poverty.

According to Doro, with 63 per cent of Nigeria’s population living in multidimensional poverty, a significant proportion of citizens remains excluded from economic activity, limiting businesses’ access to potential customers and employees.

“When 63 per cent of the population lives in multidimensional poverty, a substantial number of people are excluded from economic participation. This also means that businesses are unable to reach a large segment of their potential customers.

“Our responsibility as a ministry is to unlock partnerships with the private sector. Such collaboration is critical to expanding economic opportunities and bringing more people into productive economic activities. We are pleased that Fidelity Bank is fully committed to this effort,” Doro stated.

The minister urged stakeholders to move beyond declarations and ensure that poverty reduction initiatives deliver measurable and sustainable improvements in the lives of vulnerable households.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is a recipient of multiple local and international awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook; and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognised as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

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FIDELITY BANK PLC REDEEMS US$400 MILLION EUROBOND AT MATURITY

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LAGOS, NIGERIA – Fidelity Bank Plc has successfully redeemed its 5-Year US$400 million Senior Unsecured Notes at maturity, reaffirming its commitment to meeting its obligations to investors and reinforcing its track record in the international debt capital markets.

Issued on 28 October 2021, the 5-year Eurobond matured on 28 October 2026 and carried an annual coupon of 7.625 per cent, payable semi-annually. Fidelity Bank met all scheduled coupon payments throughout the life of the instrument and has now fulfilled its final repayment obligation in full, covering both principal and accrued interest.

The redemption was funded from internally generated liquidity as part of the Bank’s forward-looking liquidity management strategy. Through a dedicated sinking fund, Fidelity Bank progressively provided for the maturing obligation, enabling the Bank to meet its commitment while maintaining business-as-usual operations and compliance with applicable regulatory liquidity requirements.

Commenting on the development, the Managing Director and Chief Executive Officer of Fidelity Bank Plc, Dr/Mrs Nneka Onyeali-Ikpe, said the successful redemption reflected the Bank’s disciplined approach to financial management and its commitment to delivering on its obligations.

“This successful redemption demonstrates the strength of our franchise, the discipline of our balance sheet management and our commitment to honouring our obligations to investors and other stakeholders. We anticipated this maturity from the outset and planned accordingly, which reflects our commitment to responsible financial management,” Onyeali-Ikpe said.

The redemption further strengthens Fidelity Bank’s record in the international debt capital markets. The 2021 issuance marked the Bank’s third Eurobond transaction, following earlier issuances in 2013 and 2017, wherein the Bank raised $300 million and $400 million respectively. The 2021 offer attracted investor orders exceeding US$700 million, reflecting strong demand for the Bank’s international debt offering.

The successful Eurobond redemption follows the completion of Fidelity Bank’s recapitalisation programme ahead of the regulatory deadline. The Bank’s capital-raising efforts increased its eligible regulatory capital to approximately ₦533 billion, exceeding the ₦500 billion minimum capital requirement for banks with international authorisation.

The completion of these milestones underscores Fidelity Bank’s strong capital position, prudent liquidity management and disciplined approach to financial execution. It also reinforces the Bank’s capacity to meet its financial obligations while pursuing its strategic growth objectives across domestic and international markets.

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