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Okonkwo Assures Union Bank Shareholders Greater Value

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By Dipo Olowookere

The new chief executive officer of Union Bank of Nigeria (UBN) Plc, Mr Emeka Okonkwo, has promised to deliver greater value to stakeholders of the bank, particularly the shareholders.

Mr Okonkwo gave this assurance when he was given the honour of sounding the digital closing gong at the Nigerian Exchange Group (NGX Group) recently along with his predecessor, Mr Emuka Emuwa.

The new CEO said he was part of the transformation team put together by Mr Emuwa in the past eight years, which made it possible for Union Bank shareholders to be paid the first dividend in over a decade.

“Over the past eight years, a significant amount of work has gone into building the Union Bank we see today and I am glad to have been a part of this process,” he said.

“As we move ahead, our focus remains to create greater value for all our stakeholders particularly our customers and shareholders,” he promised.

According to him, “We have a clear vision to be Nigeria’s most reliable and trusted partner and we will continue to drive customer acquisition and channel optimisation through reliable dig channels and self-service platforms.”

“We will also continue to provide compelling and innovative products to drive customer transaction growth and service delivery, whilst deepening our relationship with key stakeholders including NGX Group as we move towards our goal,” the banker assured.

In his remarks, the outgone CEO, Mr Emuwa, expressed his gratitude for being given the honour to ring the closing gong for the last time as the head of Union Bank.

According to him, the mandate given to him when he joined the bank eight years ago, to transform the bank and return it to the path of sustainable growth and profitability and increase shareholder value, has been achieved.

Speaking of how he managed to pull it through, Mr Emuwa said his team had to redefine “our strategy which resulted in robust investments in our protocols and platforms.”

“Looking back, I am proud to see how far we have come and the progress we have made to transform Union Bank Plc into a leading provider of fin services today.

“It has been a collective effort by many in the bank and what we have today is an institution that is properly positioned to compete favourably in the market and in the hearts of our customers,” he enthused

In his speech, the Divisional Head, Listings Business at the Nigerian Exchange Limited, Mr Olumide Bolumole, promised that the exchange will remain the “trusted business partner {of Union Bank) in achieving strategic business objectives.”

He applauded Mr Emuwa for the transformation he brought to Union Bank, noting that under his leadership, the financial institution “maintained steady operational momentum.”

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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