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ECOMOF 2024: UBA Affirms Pledge To Stimulate African Economic Expansion Through Strategic Supports For Mining And Oil Sectors

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Africa’s Global Bank, United Bank for Africa (UBA) Plc has reaffirmed its unwavering commitment to spearhead economic growth across the continent through targeted policies aimed at maximizing the benefits derived from the mining and oil sectors.

To this end, the bank is poised to collaborate with the Economic Community of West Africa States (ECOWAS) towards implementing strategic initiatives that will not only attract investment but also foster sustainable development into the mining and oil sectors.

The Chief Executive Officer, UBA Africa, Abiola Bawuah, who spoke at the just concluded 4th ECOWAS Mining and Petroleum Forum (ECOMOF 2024) which was held at the Palais des Congrès in Cotonou, Benin Republic, said the bank recognises the pivotal role of the mining and oil sectors in shaping the economic landscape of African nations, and is strategically positioning itself to be at the forefront of this transformation.

“At UBA, we recognize the pivotal role that the mining and oil sectors play in shaping the economic landscape of ECOWAS member states and so, this ECOMOF 2024 Conference has provided us with a strategic platform to reaffirm our commitment to fostering economic growth in the region,” she noted.

According to her, by formulating and advocating investor-friendly policies by the sovereigns and financial intermediation and supports provided by UBA, the mining sector would be catalysed and transformed into robust economic pillars contributing substantially to the country’s Gross Domestic Products.

“We believe that through collaborative efforts and sound financial strategies, we can propel the mining and oil industries towards sustainable development, unlocking their full potential for the benefit of the entire region,” she added.

The ECOMOF 2024 conference with the theme “Geo-extractive Resources and Technologies: Pooling Strategies to Create Added Value in West Africa,” saw a large gathering of key players and stakeholders in the mining and petroleum sectors who gathered to brainstorm on the need to transform the mining and oil sectors into economic pillars by formulating attractive policies for investors, essential for the sectors’ substantial contribution to the development of ECOWAS member states.

As a leading African financial institution with presence in 20 African countries, UBA has consistently played a crucial role in driving such discourse around economic growth and supporting major continental development projects.

The Head of Corporate and Energy Bank at UBA, Ebele Ogbue, who was also a panelist during the session, highlighted the pivotal role of National Oil and Gas Companies in advancing the development of the oil and gas industry’s value chain.

He emphasised the significance of good corporate governance in ensuring the sustainable growth of National Oil and Gas Companies and underscored the need for robust collaborations among ECOWAS countries, just as he highlighted the importance of fostering strong regional ties to drive collective prosperity in the oil and gas sector.

He also emphasised how the UBA Group remains dedicated to providing strategic financial solutions that empower National Oil and Gas Companies to navigate the complexities of the industry and drive sustainable development.

With active involvement in major continental development projects and a strong presence across Africa, UBA is positioned as the financial institution of choice for the event. The bank’s commitment to the growth of the mining and petroleum industry in the sub-region is not only evident in its support for ECOMOF but also reflects its dedication to overall African economic development.

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 35 million customers globally.

Operating in 20 African countries and in 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.

BIG STORY

Court Jails Gospel Singer Moses Otitoju, Eight Others For Cybercrime

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The Federal High Court in Ilorin, Kwara State, has sentenced Moses Otitoju, a self-proclaimed gospel singer, and eight others to prison for crimes linked to cybercrime, conspiracy, and misuse of funds.

Otitoju was sentenced along with Ayodele Joseph, Adeoye Joseph, and Abubakar Abdulmalik, all charged with similar offences by the anti-corruption agency.

The charges were filed by the Ilorin Zonal Office of the Economic and Financial Crimes Commission.

According to a statement issued Friday by Dele Oyewale, Head of Media and Publicity at the EFCC, the 31-year-old gospel singer from Iyamoye in Ijumu Local Government Area of Kogi State was sentenced to six months in prison by Justice Abimbola Awogboro without the option to pay a fine.

Otitoju was convicted for keeping over N8.4 million in his bank account, which was traced to illegal activities.

One of the charges read, “That you, Otitoju Moses Sesan, sometime between October 2024 and December 2025, within the jurisdiction of this honourable court, did retain control of the gross sum of N8,404,339 in your account, being proceeds of criminal conduct, thereby committing an offence contrary to and punishable under Section 17(a) and (b) of the EFCC Act, 2004.”

Ayodele, who had N243,750 in his account, received an eight-month jail sentence without an option of fine.

His Tecno 19 phone was confiscated by order of the court and handed over to the Federal Government.

Adeoye, a native of Okene LGA in Kogi State, was also sentenced to eight months without the option of a fine.

He forfeited $220, an iPhone 13, and a Tecno Pop 9 phone to the Federal Government.

Abubakar was handed a six-month prison term. His iPhone 16 and Samsung S10 were also ordered forfeited to the Federal Government.

EFCC prosecutors Aliyu Adebayo, Sesan Ola, Rashidat Alao, and Mustapha Kaigama led the cases, presenting statements, exhibits, and recovered funds as evidence, all of which were admitted in court.

In another case, Justices Haleema Saleeman and Sulaiman Akanbi of the Kwara State High Court found Emeka Achi, Isaac Oluwafemi, Afolabi Olatoye, Zubeiru Zubeiru Junior, and Abdulkadir Taofeek guilty of cybercrime and diversion of funds.

Justice Akanbi sentenced Abdulkadir to three years in prison with an option to pay a N500,000 fine, and ordered that N800,000, an iPhone 14 Pro Max, and a Samsung phone be permanently forfeited to the Federal Government.

Justice Saleeman sentenced Emeka, Isaac, and Afolabi to six months in jail each, with the option to pay N100,000 as a fine.

In addition, Emeka was ordered to repay N3.35 million within three months and report to the EFCC every two weeks alongside his parents until full payment is made.

Tunde Oyekola

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BIG STORY

Kogi University Lecturer Dies During Sex Romp In Hotel Room With 200-Level Student

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A senior lecturer at Kogi State University, Anyigba, named Dr. Olabode Abimbola Ibikunle, reportedly died in a hotel room following a sexual encounter with a 22-year-old student in her second year.

It was reported that the event happened on Tuesday, July 15, and the police at Anyigba were alerted shortly after. The student involved was taken into custody for questioning.

The lecturer, known across the university for his strict approach, was allegedly infamous for taking advantage of female students in return for academic favours.

Sources claim Dr. Ibikunle, who was married with children, had booked a room in a hotel alongside the student, who is studying Social Studies Education.

According to those familiar with the situation, the lecturer consumed several energy drinks prior to the incident, presumably in anticipation of vigorous activity.

Unfortunately, the lecturer collapsed and passed away during the act.

The Kogi State Police Command verified the incident to SaharaReporters on Friday, labeling it as unfortunate.

In a statement to SaharaReporters, the Command’s spokesperson, SP William Ovye Aya, stated that the student had been moved to the State Criminal Investigation Department (SCID) for deeper inquiry and potential charges.

Aya explained: “The report was received on July 16, but the unfortunate incident happened on July 15, 2025. It was the manager of the hotel (name not disclosed), who came to the police station at Anyigba and reported about his guest, the lecturer who had lodged in their facility with a 22-year-old 200-level student, 22 years old, named Gloria Samuel.

“According to the manager, the girl on that fateful day rushed to the reception and complained that the lecturer took her to the hotel, and after they had sex, the man slumped.

“So the manager rushed and informed the DPO, and the DPO rushed to the scene, and they moved the man to the hospital. On arrival, a doctor on duty confirmed the lecturer’s death.

“So the girl in question has been transferred from Anyigba Police Division to the State CID for further investigation and prosecution. An autopsy has been conducted, but right now I don’t know whether the result of the autopsy is out because I haven’t spoken with the SCID.”

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BIG STORY

FULL LIST: Tinubu Appoints IBB’s Son, Muhammad Babangida Chairman Bank Of Agriculture, Others As Heads Of Govt Agencies

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President Bola Ahmed Tinubu has appointed Muhammad Babangida, the son of the former military President, as chairman of the revamped Bank of Agriculture.

President Tinubu approved the appointment today, along with seven others. Some of them will serve as chairmen or directors-general of Federal agencies.

Muhammad Babangida, 53, is an alumnus of the European University in Montreux, Switzerland, where he earned a Bachelor’s degree in Business Administration and a Master’s degree in Public Relations and Business Communication. He later attended Harvard Business School’s Executive Program on Corporate Governance in 2002.

Others appointed by the President are:

Lydia Kalat Musa (Kaduna State) Chairman, Oil and Gas Free Zone Authority (OGFZA).

Jamilu Wada Aliyu (Kano State) Chairman, National Educational Research and Development Council (NERDC).

The Hon. Yahuza Ado Inuwa (Kano State) is the Standard Organisation of Nigeria (SON) chairman.

Sanusi Musa (SAN, Kano State) is the Chairman of the Institute of Peace and Conflict Resolution(IPCR).

Prof. Al-Mustapha Alhaji Aliyu (Sokoto State) is the Director-General of the Directorate of Technical Cooperation in Africa (DTCA).

Sanusi Garba Rikiji (Zamfara State) is the Director-General of the Nigerian Office for Trade Negotiations (NOTN).

Mrs Tomi Somefun (Oyo State) is the Managing Director of the National Hydro-Electric Power Areas Development Commission (HYPPADEC).

Dr Abdulmumini Mohammed Aminu-Zaria (Kaduna State) has been appointed Executive Director of the Nigerian Integrated Water Resources Management Commission (NIWRMC).

 

Bayo Onanuga

Special Adviser to the President

(Information & Strategy)

July 18, 2025

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