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At UBA Business Series, Experts Say Innovation, Passion Crucial To Build Lasting Businesses

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Building businesses that stand the test of time requires a blend of innovation, unwavering focus, and passion. This was the key takeaway from the latest edition of the United Bank for Africa (UBA) Business Series, hosted on Thursday,

With the theme: “Profit with Purpose, Business Continuity,” the event which was held at the Tony Elumelu Amphitheatre, UBA House, Marina, Lagos, brought together top industry leaders and entrepreneurs who shared actionable insights and strategies for ensuring business resilience and sustainability in today’s dynamic economic environment.

Founder, Terra Kulture, Bolanle Austen-Peters, Chief Executive of Asadtek Group Limited, Ghana; Dr. James Asare-Adjei; Award winning TV Personality & Multi Media Entrepreneur, Frank Edoho, Celebrated multimedia personality, Toke Makinwa and founder of Nigeria’s pioneering indigenous premium coffee brand, Happy Coffee, Princess Adeyinka Tekena, were on ground to share their business journey and give insights on how businesses can stand the test of time and thrive in a competitive environment.

Bolanle Austen-Peters who is also a Prominent Lawyer, Award Winning Film Director, and Producer, was the keynote speaker at the event and she spoke on the need for small and medium scale businesses to define their purpose, build a workable framework and have a team that shares in your vision.

On how she has run a business successfully for over 20 years, she said, “I can never overemphasise the role that purpose plays in your business. There is the need for business owners to set clear goals and achievable targets. From Day one, I started with having an organisational structure like what we have in banks, complete with legal structure, a board of Directors, administrative Officers, and all.

Continuing she said, “The truth is that if you do not have a framework for your business, you may just be another business from the street. Putting together a structure shows that you are in for serious business, and people will treat your business as such,” she explained.

James Asare-Adjei from Ghana, who also shared that key essentials like being innovative and having integrity said that MSMEs need to identify areas that they can excel at and work towards building it. “As business owners, you need to take advantage of the market available to you, and ensure that you add value at every point.

For Frank Edoho, passion remains an essential ingredient that drives business growth. “Passion is very important, as business owners, you should stick to your guns and learn from what others are doing and add it to your experience to make your business better,” he explained.

“One of the things I did to grow my brand was that I was very focused,” said Toke Makinwa, who recalled her humble beginnings as a banker and later a broadcaster. “I kept the right attitude and surrounded myself with people who are team builders. These are winning strategies anytime,” she noted.

Princess Adeyinka Tekena, who is a beneficiary of the Tony Elumelu Foundation (TEF) Grant, said the $5,000 grant she won in 2015, helped to build her business from ground up and the business has been thriving for over 10 years now. She pointed out that tenacity, determination and financial discipline have been some of the factors that have contributed to the growth of her small business.

UBA’s Group Head, Marketing and Corporate Communications, Alero Ladipo, who commended the participants for sharing valuable insights explained that with these regular capacity building programs, UBA focuses on empowering other business owners to build sustainable businesses.

“At UBA, it is not just about Banking, we are also passionate about helping our customers to grow thriving businesses, and that is why we do this on a regular basis,” she noted.

The UBA Business Series is a regular seminar/workshop organised by the bank as one of its capacity-building initiatives, where leading business leaders and professionals share well-researched insights on relevant topics and best practices for running successful businesses, especially in difficult business challenges.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

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Agric Ministry Declares Three-Day Prayer, Fasting For Food Security

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The federal ministry of agriculture and food security has announced a three-day programme of fasting and prayer aimed at seeking divine intervention for the country’s agricultural sector.

An internal circular dated June 11, seen by TheCable, and signed by Adedayo Modupe, director of human resource management, stated that the spiritual activity is meant to request God’s guidance in Nigeria’s pursuit of food security.

Modupe stated that all staff members are expected to participate in the fasting and prayer sessions.

“This is to invite all staff of the federal ministry of agriculture and food security to a solemn prayer session for God’s guidance and success in supporting the government’s efforts to achieve food security,” the circular reads.

The session is themed “Divine Intervention for Protection and National Development”.

The circular noted that the prayer sessions will be held at Conference Hall ‘B’ of the FMAFS headquarters in Area 11, Garki, Abuja, from 12:00 p.m. to 12:30 p.m. on each scheduled day.

Staff are expected to fast on Monday, June 16, and continue on June 23 and June 30.

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Wike Defends N39bn Renovation Of Abuja International Conference Centre, Says “We Have Taste”

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Nyesom Wike, the minister of the Federal Capital Territory, has responded to criticisms regarding the N39 billion renovation of the Abuja International Conference Centre, saying those who are opposed to the project “do not have good taste”.

He made these remarks on Friday during the commissioning of the newly built left-hand service carriageway in Abuja.

Back in March, Wike disclosed that the FCT administration allocated N39 billion for the renovation of the centre, which has now been renamed in honour of President Bola Tinubu following its commissioning on Tuesday.

The renovation has sparked public backlash over the amount spent on the project.

As reported by Channels Television, Wike stated, “The only thing in that International Conference Centre that was not changed is just the block work.”

He continued, “Everything in that Bola Ahmed Tinubu International Conference Centre was changed.”

Wike emphasized that Nigeria must reflect its status as the Giant of Africa in both substance and appearance. He said, “Nigeria, as the Giant of Africa, must not only show that it is the giant of Africa; people must see what makes you to be the giant of Africa. Nobody who loves this country would criticise the International Conference Centre.”

He addressed the argument about the naming of the centre, noting, “They said we did not name the International Conference Centre after someone who built it. Nnamdi Azikwe International Airport was not built by Nnamdi Azikwe. Moshood Abiola International Stadium was not built by Moshood Abiola.”

Wike also countered claims that the centre, originally constructed for N240 million in 1991, should not have required N39 billion for refurbishment in 2025.

He responded, “What was the exchange rate in 1991? Compare the exchange rate to what we have in 2025.”

He stressed his commitment to quality, stating, “We have taste; we want the best for the country, and the president has given the best for the country.”

Wike concluded by defending his loyalty to the president, saying, “If you did not do well to defend your boss when you had the opportunity, it is your business. I am here, and I will defend my boss.”

“I have done it, and I have no regret at all.”

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BIG STORY

EFCC Arraigns Sun Trust Bank MD, ED Halima Buba Over Alleged ‘$12m Fraud’

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The Economic and Financial Crimes Commission has charged Halima Buba, the managing director and chief executive officer of SunTrust Bank Ltd, with allegations of money laundering.

Buba appeared before Justice Emeka Nwite of the federal high court in Abuja on Friday, alongside Innocent Mbagwu, the bank’s executive director and chief compliance officer.

They are facing a six-count charge from the EFCC, which accuses them of laundering up to $12 million.

According to the commission, Buba and Mbagwu were involved in the unlawful handling of large sums of cash on several occasions, bypassing financial institutions in violation of Nigeria’s money laundering regulations.

One of the charges alleges that on March 10, 2025, in Abuja, the two assisted Femi Gbamgboye in paying $3 million in cash to Suleiman Muhammed Chiroma and his associates.

The funds were allegedly handed over without using a financial institution, breaching the Money Laundering (Prevention and Prohibition) Act, 2022.

Another charge claims they arranged another $3 million in cash to be delivered on March 13, 2025, in Lagos to Mukhtar Miko, who is said to be an associate of Chiroma, also without routing it through a bank.

Buba and Mbagwu denied all allegations when arraigned.

After their plea, lead EFCC counsel Rotimi Oyedepo informed the court that the commission was ready to proceed with trial and requested an expedited process.

Defence lawyer J.J. Usman asked the court to grant bail based on an application submitted on May 27.

Oyedepo challenged the request, stating that the defendants were not in custody when they filed the application and should not be permitted to seek bail while outside detention.

He urged the court to dismiss the existing application and require new bail submissions.

After considering arguments from both sides, Justice Nwite approved bail for each defendant in the sum of N100 million, with one surety each of the same amount.

The sureties must have landed property in Abuja, submit the property documents to the court, and provide their passports along with two recent passport photos.

The judge ruled that the accused be held in a correctional facility until they fulfill their bail conditions and scheduled the trial to continue on July 17 and 18.

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