Vice President Kashim Shettima has praised the United Bank for Africa (UBA) for its outstanding record of innovation, growth in emerging markets, and sustained excellence over the past 75 years.
Speaking at UBA’s 75th Anniversary Dinner held at the Transcorp Hilton Hotel, Abuja, Senator Shettima described the bank as a ‘pacesetter’ and a ‘quintessential specimen’ of what African institutions can achieve when excellence is institutionalised.
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“Seventy-five years is not something you pick up at a supermarket. It is earned — through risks and calculations, through storms and sunshine, through mergers and acquisitions, and through the brainpower and courage of those who believe in its promise of a new world,” the Vice President declared.
He lauded UBA’s evolution as a financial institution that continues to pay close attention to innovation, emerging markets, and the shifting ambitions of generations.
“UBA has remained a pacesetter because it is led by people who do not just manage capital but manage curiosity,” Shettima said, adding that the bank’s staying power stems from its relentless pursuit of relevance.
He also commended UBA’s ability to influence economies and shape the narrative of what African financial institutions can become, noting that the bank serves millions across the continent and beyond.
Shettima reserved special praise for UBA’s Group Chairman, Tony Elumelu, whom he described as “one of the finest sons of Africa” and “a bridge between the old and the new.”
He remarked that Elumelu had won the trust of even the younger, digital-savvy generations by listening across generations and adapting to changing times.
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“Tony Elumelu is not a dreamer; he is a dream-maker. He has shown that it is possible to build without breaking, to lead without losing touch, and to dream without borders,” Shettima said, highlighting Elumelu’s ability to balance corporate leadership with family life.
He also praised Elumelu’s wife, Awele Elumelu, describing her as an ‘Amazon’ and the quiet strength supporting her husband’s success.
In his remarks, Tony Elumelu expressed profound gratitude to the Shettima, UBA’s customers, shareholders, and founding pioneers, acknowledging the strong foundations laid over decades.
“This is a night of celebration and gratitude to God, to our customers, and to shareholders who have made this possible,” he said.
Looking to the future, Elumelu expressed confidence in UBA’s continued success, tying it to Nigeria’s improving economic environment under President Bola Tinubu.
He said, “Just keep transforming our domestic economy as President Tinubu is doing, and UBA will keep roaring.”
In his welcome address, UBA Group Managing Director, Oliver Alawuba, reflected on the bank’s journey since its inception 75 years ago on Kakawa Street, Lagos, as the British & French Bank (BFB).
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Today, UBA operates in 24 countries, with 1,000 business offices, over 25,000 staff, and more than 45 million customers.
Alawuba reported that in 2024, UBA posted a profit after tax of ₦766.6 billion, with total assets reaching ₦30.4 trillion. Shareholders were rewarded with a ₦5 dividend per share, delivering a dividend yield of 14.5% — the highest among peers in the industry.
He also noted that shareholders’ funds rose significantly to ₦3.419 trillion in 2024, from ₦2.030 trillion the previous year.
Looking ahead, Alawuba outlined an ambitious vision for UBA to establish a presence in every African country and expand to over 100 countries worldwide within the next 75 years.
The event was attended by prominent figures from across the financial and political sectors, who joined in celebrating UBA’s landmark achievement.
