Monthly Archives: May 2021

UBA Group appoints Caroline Anyanwu as new board member

United Bank for Africa (UBA), the leading pan-African financial services institution, today announced the appointment of Mrs. Caroline Anyanwu to its Board of Directors, effective May 19, 2021.

Nigeria’s oil exports drop 130,000 b/day on loading snag – Shipping data … Nigeria’s Qua Iboe oil to also fall 950,000 barrels July

Nigeria, highest crude oil producers in Africa lost an average of 130,000 barrels per day as a result of loading problems witnessed in the month of May, shipping data and trade sources have revealed.
Analysts say the drop will further diminish income flow to the country which is already in heavy deficit financing.

Nigeria Central Bank Holds Rate to Support Economic Recovery … Waves away inflation fears, says driven by insecurity, bad infrastructure

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its benchmark interest rate for a fourth straight meeting, prioritizing the recovery of the economy from last year’s recession over fighting inflation that’s near a four-year high.

Nigeria’s construction industry to return to growth after painful year

Nigeria’s construction industry is due to grow by 3.9 per cent in 2021 after a 7.7 per cent decline in 2020, according to economic analyst GlobalData. The fall was caused by Covid-19 restrictions and a drop in demand for oil and gas, which accounts for 65 per cent of government revenues.

Receding inflation may slow agitation for hawkish monetary stance

The five basis points (bps) in inflation last month, analysts believe that the Monetary Policy Committee (MPC) may maintain its dovish stand when it meets next week.

UBA hosts African conversation with world leaders

The United Bank for Africa (UBA) Plc, is set to celebrate this year’s Africa Day in commemoration of African unity with the third edition of its annual UBA Africa Conversations, headlined by Africa’s international leaders that include the President of Rwanda, H.E Mr Paul Kagame, Mrs Ngozi Okonjo-Iweala, Director-General of the World Trade Organisation(WTO); Dr Tedros Adhanom Ghebreyesus, Director-General of the World Health Organisation(WHO) and Mr. Makhtar Sop Diop, Managing Director, International Finance Corporation(IFC). The conversations will be held online on www.africaday.ubagroup.com