United Bank for Africa Plc, at the weekend, restated commitments to ensuring strong corporate governance across the group’s operations, at a ceremony to honour four retiring Non-Executive Directors who had collectively served for over 40 years.
The quartet who were treated to a cocktail and dinner party attended by top players in the private and public sectors at the Transcorp Hilton Hotel, Abuja on Friday, Mrs Rose Okwechime, Ambassador Kunle Olumide, Alhaji Jaafaru Paki and Yahaya Zekeri.
UBA Plc’s Chairman, Tony Elumelu, commended the contributions of the retiring directors to the group’s corporate governance policies and the actualization of its goals and targets.
This, he said, is why the group’s “institutionalised corporate governance has attracted more investment, increased its income base, ensuring that UBA impacts the economic and infrastructural developments in Africa. We are grateful for the contributions of the retired directors and their colleagues on the board.
“Without the support given by the retiring directors, we may not be where we are today,” he stressed, recalling their “investment and advisory services with the legacy Standard Trust Bank which later grew into today’s UBA, cannot be understated.”
Also speaking, Group Managing Director, Kennedy Uzoka expressed mixed feelings, saying employees of the financial empire are celebrating “some great people who have contributed to building the franchise that we have today. Four members of our board are leaving because they have achieved the statutory years of service. If not for this fact, we would have held on to them because of the value they have given overtime.”
Responding on behalf of the retiring board members, Ambassador Olumide appreciated UBA Plc for the opportunity to contribute their quota to its growth, recalling the board’s decision to expand into Africa as one of its greatest achievements during their era.
“Today UBA’s subsidiaries contribute over 40% to the bank’s profit. The bank’s vision of diversification of its income and its concrete contributions to the economic and infrastructural developments of Africa, make me happy to be part of that history,” he added.
He advised the group to maintain its prudent loan policy, considered as one of the best in the nation’s financial industry, assuring that he and his colleagues are leaving a bank with very strong corporate governance practices and principles, world-class management and very resourceful staff. These, he believes will ensure the bank is sustains the best of standards.

Photo Caption: Former Non-Executive Directors, United Bank for Africa Plc, Yahaya Zekeri and wife, Clara; Alhaji Jaafaru Paki; Group Chairman, Tony Elumelu; Former Non-Executive Director, Mrs. Rose Okwechime; GMD/CEO, Kennedy Uzoka; another retiring director, Ambassador Adekunle Olumide and wife, Emeritus Professor Mercy Olumide; and Deputy Managing Director(DMD), Victor Osadolor; at cocktail and dinner at the Transcorp Hilton, Abuja on Friday, October 19, 2018.