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UBA Customer Loses N310,000 From Account While Asleep
On May 25, Rofiat Omowumi, an Oyo-based United Bank of Africa (UBA) customer, woke up to an unathorised debit alert of N110,000.
She would later discover that N200,000 had earlier been debited from her account.
Omowumi told FIJ that the unauthorised transactions occurred at about 4:52 am while her phone was switched off.
FIJ learned her phone was not supposed to turn on until 5:00 am because she had enabled a setting that allows it to automatically switch off and on daily by 11:00 pm and 5:00 am, respectively.
Omowumi said she was surprised that such could happen while she was asleep, and considering that she neither compromised her banking details nor revealed them to anyone.
“The N110,053 debit alert was the only alert I saw in the morning, but I found that my account was empty. When I got my account statement, I found that N200,053 was the first unauthorised transaction before the N110,000 but I never got an alert for it.
“It’s so surprising. I never made any transaction, neither did I give anybody my pin or ATM card. I don’t have a roommate. Nobody even knows my pin. I don’t even know how it happened,” she told FIJ.
“When I complained at a branch of the bank in Owode, Oyo, I did not get a positive response from them.
“I really need that money. I just want the bank to help me refund it and identify what went wrong.”
As of midday on June 9, which marks 15 days the unauthorised deductions occurred, Omowumi confirmed that the money had not been refunded.
On Monday, FIJ emailed Ramon Nasir, the head of media and external relations at UBA, regarding the issue.
He acknowledged the email, saying, “This is being looked into by our team. We will revert with our findings.”
However, FIJ had not heard from him at the time of publication despite sending a follow-up email to him on Friday morning.
June 10, 2023
UBA’s $300 Million Eurobond Oversubscribed
Amid global and domestic challenges, the United Bank for Africa Plc’s (UBA) $300 million Eurobond attracted 1.7 times oversubscription from investors across the globe.
The Pan-African bank had on the Nigerian Exchange Limited (NGX) announced plans to raise a five-year fixed rate benchmark USD-denominated Regulation S/144A Senior Unsecured offering under its Global Medium Term Note Programme subject to market conditions.
The lender in a statement yesterday revealed that the targeted $300million Eurobond attracted an order book of $520 million, representing 1.7 times oversubscription.
According to statement obtained by THISDAY, the issue attracted interest from global investors across Europe, United States, Middle East, Asia and Africa, with orders from quality real money accounts.
The bank explained that its ability to achieve this transaction despite the challenging market backdrop, reflected continuing global investor appetite for UBA’s credit and support for the Group’s Pan African banking strategy.
It further added that: “In conjunction with the new issue, UBA announced a tender offer on the existing $500 million Senior Unsecured Notes due 2022.
“The issue size of $300 million represents the amount required to fund the tender offer based on the maximum expected hit rate, in line with market precedents.
“The new issue along with the liability management exercise, complements UBA’s stable funding base and supports the growth of the Bank’s balance sheet and the overall business.
“This issuance represents UBA’s second Eurobond transaction and the Bank’s first issuance under the recently established $1.5 billion Global Medium Term Programme, which was set up to enable the Bank access funding from the international debt capital markets, as and when required, in line with its growth plans and funding strategy.”
November 12, 2021
UBA stole Millions Of Naira from an old man
When Innocent Anyaka walked into the Aba main branch of the United Bank for Africa (UBA) in 1982, he was about to start a travail that would last a long time — decades, in fact. And 38 years down the line, there’s still no end in sight.
By July 1981, Anyaka had established a trade link with Khran Chenie Gram, a pharmaceutical company based in Hamburg, Germany, and following a few successful dealings, he was set to step up the game with the importation of 5,000 capsules of tetracycline, and 10,000 tabs of ferrous sulphate and gluconate.
He deposited the sum of N200,000 into UBA for onward conversion to Deutsche Mark and transfer to the German company’s account. But the bank failed to remit DM14, 500 (N3,393,891million at the current exchange rate) of the converted amount and would not refund the creditor.
After the bank refused to reply to letters requesting the refund of his money, Anyaka wrote through a solicitor, Barrister Esom Casmir, and subsequently, UBA said the money was with the Central Bank of Nigeria (CBN) and promised to get a refund across as soon as possible.
Mr. Anyaka says by holding on to his money back in 1982, UBA destroyed his future.
Exchange of words and letters continued among the parties involved for several years. In a letter dated August 30, 1994, the German company, Khran Chenie, reminded UBA that a certain amount of money meant for the company was yet unremited. It appealed to the bank to render any possible assistance.
The pharmaceutical company had, as a result of the delay, held on to the sum of DM 21, 000 (N4,915,291 million) it owed Anyaka’s company, putting the business on the verge of collapse.
“The UBA destroyed my future,” Anyaka told FIJ. “When they seized that money, I had nothing left to trade.”
In Febuary 2019, Vitalis Ekwem, one of the creditor’s lawyers, hinted that UBA’s blunt refusal to address previous letters from his client after receiving and acknowledging them was a “ploy to hinge on ‘Limitation Period.’”
Within the legal sphere, ‘limitation period’ puts a timeline between the occurrence of an event and the time legal proceeding can begin on it. Whatever is reported outside the time-frame stands the risk of not getting the court’s attention.
While speaking with FIJ, Anyaka, who said he had petitioned the CBN to no avail, revealed that the UBA has done the same to a number of Nigerians, many of whom are now dead.
“This is something they have done to so many people. Some of them died while trying to reclaim their money and UBA ‘ate’ it. Please, help me,” he said.
March 5, 2021
COVID-19: UBA, Transcorp postpone 2019 AGMs
United Bank for Africa (UBA) and Transcorp have announced the cancellation of their 2019 Annual General Maeetings (AGMs) to prevent the spread of COVID-19.
The companies stated this a statement to their shareholders and stakeholders posted on the Nigerian Stock Exchange (NSE) web site.
UBA’s 58th ATM was initially slated for March 27, at the Eko Hotels & Suites, Victoria Island, Lagos, while Transcorp was supposed to hold on March 25.
“The Board of Directors of United Bank for Africa Plc hereby announces the cancellation of the Notice of Meeting of the 58th Annual General Meeting dated March 2, 2020.
“Consequently, the 58th Annual General Meeting which was previously scheduled to be held on Friday, March 27, 2020 at the Eko Hotels & Suites, Victoria Island, Lagos is hereby postponed.
“The cancellation of the notice and postponement of the AGM are hinged on part of UBA’s measures, as a good Corporate Citizen, to avoid the spread of the coronavirus (COVID-19).
“A new Notice of Annual General Meeting of the Bank will be published in due course.
“In this trying and uncertain period, the Board of United Bank for Africa Plc would like to assure all our customers, shareholders and other stakeholders that we are here for you throughout the crisis and beyond,” said Bill Odum, the bank’s Group Company Secretary.
In a related development, Transcorp in a statement signed by Chike Anikwe, its Group acting Company Secretary, said the posponement of the meeting was due to novel COVID-19.
Anikwe stated that the meeting earlier scheduled for March 25, had been postponed till further notice.
He noted that the recent developments on COVID-19 and the need to follow the guidelines provided by the World Health Organisation, the National Centre for Disease Control and the Federal Government amongst others, led to the postponement. (NAN)
March 23, 2020
UBA launches hybrid account
In a move to transform the lives of its customers, United Bank for Africa (UBA) has launched a hybrid account tagged ‘UBA Bumper Account’.
The bank, in a statement by Mr Ramon Nasir, its Head, External & Media Relations, said that the new account was in line with the bank’s mission of creating superior value for its stakeholders and to encourage savings culture.
Nasir said that the account would offer account holders an opportunity to win cash prizes of up to N2 million.
Mr Jude Anele, the bank’s Group Head, Retail Banking, was quoted by the statement as saying the new ‘UBA Bumper Account’ was created with the customer in mind.
Anele said, “We have in recent times deepened our focus on the most important aspect of our business – the customers we serve.”
He stated that the Bumper Account would deliver improved value to stakeholders, noting that the bank had huge investment in technology to make banking easier and seamless.
The bank official explained that new and existing customers of the bank needed to ensure they had a minimum deposit of N5,000 in their UBA Bumper Account to qualify for draws.
Anele noted that a total of 100 customers emerged winners at the live draws of the new Bumper account.
He said that lucky customers would win from N10,000 to N2million each in the monthly, quarterly and targeted draws.
Anele said that a monthly shopping allowance of N100,000 for a year was also up for grabs.
“No fewer than 50 account holders will get a whopping two million naira each across all participating regions. This account is open to both existing and new customers of the bank who save a minimum of N5,000,” Anele said.
January 29, 2020