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Excitement as UBA Increases Staff Salaries by 170%

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Kennedy Uzoka UBA Shareholders

By Modupe Gbadeyanka

**Promotes 5,000, Recruits 4,000

The management of United Bank for Africa (UBA) Plc has approved salary upgrades for its employees with immediate effect this January.

A statement issued by the financial institution stated that beneficiaries of this exercise, over 5,000, will receive up to 170 percent increase in their salaries and benefits, whilst a good number have been moved to higher grade levels.

The Group Managing Director/Chief Executive Officer of UBA, Mr Kennedy Uzoka, who announced the bank’s new staff improvement initiatives to the excited employees, noted that the bank was continually seeking new ways to improve the fortunes of its staff as they are the backbone of the organisation.

“As a leading financial institution, we do not take issues relating to our staff lightly. We take great pride in being a listening bank that has the ears of our employees as they turn the wheels which make the organisation successful for our customers and shareholders. UBA recruits highly talented staff who perform at the best standards and deserve to be remunerated accordingly,” Mr Uzoka said in a bank-wide live broadcast to workers of the organisation.

In a carefully planned restructuring embarked upon by the bank in the last quarter of 2019, UBA has transformed its grading system and processes to become one of the most competitive within the industry.

The bank crashed its grade levels to 12 levels from entry level to the top of the pyramid, where previously it had been 16 levels.

This means that staff will now find it much easier to attain top leadership management positions at UBA as their careers progress much faster.

It further recruited over 4000 new staff members, who resumed in the last week of December 2019, becoming the highest employer of labour amongst Nigerian banks with a staff strength of close to 20,000.

“We have also taken steps to ensure that our bank remains at the top tier as it relates to talent pool. We want to train the best and we have crashed the grade structure to make it easier and faster for our employees to progress along their careers.

“With this new grade structure, it will be possible for a new graduate employed at UBA to rapidly chart their own careers and become GMD by the age of 36,” the GMD/CEO further said in the broadcast.

UBA is one of Africa’s leading banks with operations in 20 African countries. The bank also has presence in the global financial centres of London, New York and Paris. UBA provides banking services to more than 17 million customers globally, through diverse channels.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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NMDPRA CEO Farouk Ahmed, NUPRC Boss Gbenga Komolafe Resign

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farouk ahmed gbenga komolafe

By Adedapo Adesanya

The chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed, has resigned alongside his counterpart at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe.

Based on the development, President Bola Tinubu has asked the Senate to confirm new chief executives for the two agencies.

The President’s request was contained in separate letters to the Senate on Wednesday, according to a statement signed by Mr Bayo Onanuga, the Special Adviser to the President on Information and Strategy, late on Wednesday.

Both officials were appointed in 2021 by former President Muhammadu Buhari to lead the two regulatory agencies created by the Petroleum Industry Act (PIA).

To fill these positions, President Tinubu has written to the Senate, requesting expedited confirmation of Mrs Oritsemeyiwa Amanorisewo Eyesan as CEO of NUPRC and Mr Saidu Aliyu Mohammed as CEO of NMDPRA.

Mr Ahmed’s resignation comes amid a high-profile conflict with businessman, Mr Aliko Dangote, who alleged that the NMDPRA chief and his family were living beyond their legitimate means, citing millions of Dollars allegedly spent on overseas schooling for his four children.

Mr Eyesan, a graduate of Economics from the University of Benin, spent nearly 33 years with the NNPC and its subsidiaries. She retired as Executive Vice President, Upstream (2023–2024), and previously served as Group General Manager, Corporate Planning and Strategy at NNPC from 2019 to 2023.

Mr Mohammed, born in 1957 in Gombe, graduated from Ahmadu Bello University in 1981 with a Bachelor’s in Chemical Engineering. He was announced today as an independent non-executive director at Seplat Energy.

His prior roles include Managing Director of Kaduna Refining and Petrochemical Company and Nigerian Gas Company, as well as Chair of the boards of West African Gas Pipeline Company, Nigeria LNG subsidiaries, and NNPC Retail.

He also served as Group Executive Director/Chief Operating Officer, Gas & Power Directorate, where he provided strategic leadership for major gas projects and policy frameworks, including the Gas Masterplan, Gas Network Code, and contributions to the Petroleum Industry Act (PIA).

He played a pivotal role in delivering key projects such as the Escravos–Lagos Pipeline Expansion, the Ajaokuta–Kaduna–Kano (AKK) Gas Pipeline, and Nigeria LNG Train.

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Transcorp Hotels Picks Awele Elumelu as Board Chair

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awele vivian elumelu

By Adedapo Adesanya

Transcorp Hotels Plc has appointed Mrs Awele Vivien Elumelu as the chair of its board, effective January 1, 2026.

Her appointment follows the scheduled retirement of the current chairman, Mr Emmanuel N. Nnorom.

Mrs Elumelu, a medical doctor with an MBBS from the University of Benin (UNIBEN) and clinical experience in Nigeria and the United Kingdom, brings extensive experience in healthcare, insurance, corporate governance, and philanthropy. She is married to the chairman of Transcorp Plc, Mr Tony Elumelu.

She currently chairs Avon Healthcare Limited, a Nigerian health maintenance organisation, and Avon Medical Practice, a network of hospitals and clinics.

She also chairs Heirs Insurance Brokers and serves as a founding Director of Heirs Holdings Limited. Her executive education includes programmes at Harvard Business School, IMD Switzerland, and the London School of Economics.

According to a statement, her appointment highlights a strategic focus on integrating innovation, wellness, and responsible business practices into Transcorp Hotels’ operations. Mrs Elumelu is also a trustee and co-founder of the Tony Elumelu Foundation, through which she has supported more than 24,000 African entrepreneurs with training, seed capital, and mentorship, while advancing gender inclusion.

Commenting on the appointment, Mr Elumelu tasked his wife to deliver value to stakeholders.

“We are delighted to welcome Dr Awele Elumelu as the board chair of Transcorp Hotels. Her distinguished track record perfectly aligns with our ambition to redefine hospitality through innovation, wellness integration, and responsible business practices. Her strategic insight will be invaluable, as we continue to elevate guest experiences and deliver sustainable value to all stakeholders,” he said.

Transcorp Hotels Plc is the hospitality subsidiary of Transnational Corporation Plc. The firm manages prominent properties including the Transcorp Hilton Abuja and the recently launched 5,000-seat Transcorp Centre. It is part of Transcorp Group’s diversified investments across power, hospitality, and energy sectors in Africa.

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Falade to Head NLNG as Mshelbila Quits to Lead Gas Exporting Countries Forum

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Nigeria LNG Limited NLNG

By Adedapo Adesanya

The Board of Directors of the Nigeria LNG Limited (NLNG) has appointed Mr Adeleye Falade as its new chief executive. He is to assume office in April 2026.

Mr Falade joins NLNG from Brunei LNG, where he has been serving in a similar position.

His appointment follows the exit of Mr Philip Mshelbila after more than four years of leadership to assume the position of Secretary-General of the Gas Exporting Countries Forum (GECF) in Doha, Qatar. He will officially leave the company on December 31, 2025.

Last weekend, a send-off ceremony was held in Abuja at the weekend to mark the end of the tenure of Mr Mshelbila and was graced by NLNG Directors, executives from shareholder companies, dignitaries from the public sector and energy industry in Nigeria, members of NLNG management, and representatives of various staff groups.

Speaking about the outgoing NLNG helmsman, Mr Olakunle Osobu, NLNG’s Deputy Managing Director, in his remarks described Mr Mshelbila as a man of distinction, an accomplished professional whose expertise spans medicine, environmental health, strategic business leadership, and global gas diplomacy.

He revealed that the outgoing MD stepped in during a period of unprecedented challenges, from the aftermath of COVID-19 and severe flooding that disrupted gas pipelines to vandalism and force majeure declarations by suppliers.

Mr Osobu stated that the global energy turbulence following the Russia–Ukraine war added further strain, but noted that despite these hurdles, NLNG pursued its sustainability goals with courage and innovation.

“Understanding that NLNG needed multiple supply sources, especially with current challenges, Mshelbila championed a bold and strategic pivot to expand NLNG’s feed-gas base beyond the shareholder joint-venture supply chain.

It was also revealed that under his leadership, NLNG negotiated and signed long-term Gas Supply Agreements (GSAs) with six third-party gas suppliers in August 2025. These GSAs commit to delivering an estimated 1,290 million standard cubic feet per day (mmscf/d) of feed-gas to NLNG, a historic step for the Company, marking a seismic shift,”.

Mr Osobu stated that Mr Mshelbila had championed innovation with a forward-looking approach, inspiring NLNG’s workforce to strengthen their commitment to emissions control and environmental stewardship, adding that Mr Mshelbila redefined NLNG’s business model through its transformation programme, building foundations for future sustainability and value creation.

In her remarks, Mrs Sophia Horsfall, NLNG’s General Manager, External Relations and Sustainable Development, said, “Thank you for your selflessness, for the steadiness of your leadership, for the clarity of your vision, and for the values that guided your every step. You led with humility, yet you inspired greatness. You carried the weight of challenges with calm resolve. You charted a path toward sustainability long before it became fashionable.”

On his part, Mr Mshelbila expressed profound gratitude to NLNG’s shareholders, Board of Directors, staff, and industry partners for their support throughout his tenure.

He praised the Company’s enduring culture of innovation and excellence and affirmed that he would carry these values into his new role at GECF, where he will promote natural gas as a sustainable and reliable energy source.

As Secretary-General of GECF, Mr Mshelbila will strengthen dialogue between gas-producing and gas-consuming nations, advancing stability in the international gas market.

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