A few weeks after three of his vehicles were seized over judgement debt obtained against him by Oranto Petroleum, owned by Prince Arthur Eze, Senator Andy Uba has promised to make payment of N1 million every month until he defrays the N50 million loan.
This is after he made N2 million part payment to show good faith to pay back the said loan and to avoid further embarrassment.
Oranto Petroleum had recently executed a judgment delivered by a High Court in Anambra State against Uba. The court had ruled that since the former senator did not pay back the alleged N50 million loan granted him by Prince Eze through Oranto Petroleum, his property should be confiscated.
Following this, court officials and policemen stormed the Asokoro, Abuja home of Uba and took away three of his vehicles.
In an affidavit on the method of payment of the loan, where he also stated how he got the N50 million from the plaintiff earlier considered as donation, Uba said going by the state of the economy, he could only pay by instalment.
In a 41-paragraph affidavit sworn to by himself, Uba said he would face financial restraint and extreme hardship if compelled to pay the total judgment debt of N50 million at once.
He said the dwindling economy of the country had placed him in a poor financial position and that he could not pay the debt completely as a whole.
Uba, in his motion with the supporting affidavits, is seeking an order of the court to stop further execution of the judgment of the court which had earlier been carried out by men of the enforcement unit of the High Court of the Federal Capital Territory Abuja.
Uba had earlier, in his defence in court, claimed that the soft loan granted to him by the creditor was a donation for his campaign, which the Presiding Judge at the High Court in Ekwuloba, Anambra State dismissed on the grounds that the defendant did not bring any convincing evidence.
Meanwhile, Oranto Petroleum Ltd, has further filed a motion seeking order of the court to auction the vehicles recovered from the residence of Senator Uba. The motion is to be heard by the court on September 2022.
Zenith Bank Refunds N3.23m To Angry Customer Chiamaka Agim
A leading Nigerian commercial bank, Zenith Bank has returned N3.23 million to Chiamaka Agim, a Lagos State resident whose N4.039 million was erroneously deducted on January 9.
According to reports, Zenith Bank had previously informed Agim that she would only receive N800,500 of the N4,039,900 that had been debited.
But on Monday, January 16, in the evening, the bank sent back N3,239,400.
Recently, the Zenith Bank client shared a post about the refund on her Twitter page.
Agim reported that on that Monday, the bank contacted her to provide an update on the refunded money.
“After the event, they had to put my account on pause, so I didn’t get any alerts,” the user said. I was told to visit the bank the next day,” she recalled.
“They had credited my account with N3,239,400 around 7.30 pm on Monday,” the customer said. “My account statement was printed when I got to the bank.”
She claimed to have discovered that Access, one of the two banks to which the funds were transferred, still held the remaining N800,500.
Zenith Bank stated that Access Bank is now withholding the funds and that it is not their fault at this time. They said Access Bank stated that the funds would not be released without a court order.
UBA Appoints Abiola Bawuah CEO,UBA Africa
The Board of Directors of the United Bank for Africa Plc has announced the appointment of Mrs. Abiola Bawuah, as Chief Executive Officer (CEO) of UBA Africa.
According to a statement y the bank, Bawuah will also join the Group Board as an Executive Director, overseeing the Group’s operations across the African continent, outside Nigeria.
Bawuah, a Ghanaian national, is the first female CEO of UBA Africa.
Prior to her appointment, she was Regional CEO, West Africa, supervising the Group’s operations in nine subsidiaries, including Benin, Burkina Faso, Cote d’Ivoire, Ghana, Guinea, Liberia, Mali, Senegal, and Sierra Leone. She previously held the role of CEO, UBA Ghana.
Speaking on the new appointment, the Group Board Chairman, Mr Tony O. Elumelu, said, “Abiola has contributed significantly to the growth of UBA Africa for close to a decade. She brings a wealth of experience in commercial banking, and stakeholder engagement. It also gives me great pleasure that with her appointment, the UBA Group Board has now become a majority female board.”
The UBA Group also announced other appointments.
Chris Ofikulu was appointed the Regional CEO of UBA West Africa.
A statement by the bank said Ofikulu has over two decades of banking experience spanning corporate, commercial, and retail banking.
Similarly, Uzoechina Molokwu was appointed as Deputy Managing Director (DMD) of UBA Ghana, subject to local regulatory approvals. He was previously the Executive Director, Business Development – UBA Côte d’Ivoire and has over 23 years banking experience.
Ayokunle Olajubu was also announced as the Managing Director/CEO UBA Liberia, subject to local regulatory approvals. He currently drives compliance across Africa subsidiaries and comes with 30 years banking experience in Nigeria and other African countries, including Sierra Leone, Cote D’Ivoire and the Gambia.
Other appointments include that of Theresa Henshaw who was appointed as CEO of UBA UK, subject to local regulatory approvals. She was previously the DMD, Business Development, UBA America and joined the Group as ED, Business Development at UBA UK.
Usman Isiaka, currently CEO, UBA Sierra Leone, has also been appointed the Deputy CEO in UBA America, subject to local regulatory approvals.
Adeyemi Adeleke, the former CEO of UBA, UK is now the Group Treasurer. Adeleke will be working to unlock the immense value in the Group’s multi-jurisdictional balance sheet, leveraging on its presence in 24 countries within and beyond Africa.
In addition to the executive appointments, UBA has announced the retirement of High Chief Samuel Oni, an independent non-executive Director, from the board following the expiration of his tenure. He joined the UBA Group in January 2015 and served on the Board of the Group for eight years.
The Group Chairman, Mr Elumelu, expressed his appreciation to High Chief Oni, for his commitment, leadership and extensive contributions to the UBA Group and on behalf of the Board, wishes him the very best in all his future endeavours.
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