Following its recently released half-year financials, Africa’s Global Bank – United Bank for Africa (UBA) Plc, has announced its audited results for the third quarter ended September 30, 2025, where it recorded strong and impressive growth across all its key indicators.

As in the first two quarters of the current fiscal year, the bank’s gross earnings grew by 3.0 per cent to N2.469 trillion up from N2.398 trillion recorded in September last year, while its net Interest income which stood at N1.103 trillion at the end of the third quarter in 2024, rose by 6.2 per cent to N1.172 trillion in the period under consideration.

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The bank’s financial report filed with the Nigerian Exchange Limited on Thursday also indicated a slight drop by 4.1 per cent in Profit before Tax (PBT) to N578.59 billion compared to N603.48 recorded at the end of the third quarter of 2024, while profit after tax rose by 2.3 per cent from N525.31 billion recorded a year earlier to N537.53 billion at the end of September 2025.

As in the preceding two quarters this year, UBA continues to maintain a very strong balance sheet, with Total Assets rising to N32.492 trillion, representing a 7.2 per cent increase over the N30.323 trillion recorded at the end of December 2024, just as total deposits rose by 7.7 per cent from N24.651 trillion at the end of last year to N26.54 trillion in September 2025.

UBA shareholders’ funds remained very strong at N4.301 trillion rising by 25.8 per cent from N3.418 trillion recorded in December 2024 again reflecting a strong capacity for internal capital generation and growth.

Commenting on the result, UBA’s Group Managing Director/CEO, Mr. Oliver Alawuba, said the bank continues to demonstrate the strength, resilience, and diversification of its business in a dynamic operating environment.

“We delivered solid performance supported by prudent balance sheet management, innovation, and a well-diversified earnings base across all our markets,” he stated.

According to him, with profit After tax rising to N538 billion, from N525 billion, the bank continues to reflect consistent earnings momentum and its commitment to sustainable growth, with strength in Nigeria, African network and global presence amidst persistent macroeconomic headwinds.

Updating shareholders and investors on its recent recapitalisation efforts, the GMD said, “I am pleased to report that we have made significant progress on our capital raising, as part of the mandated industry wide recapitalization exercise with the successful completion of the final phase II of the Rights Issue. This has strengthened our capital base and will support the continued, prudent expansion of our operations across our markets.”

Alawuba emphasised UBA’s unwavering focus on disciplined execution and strategic growth, ensuring the delivery of sustainable returns and long-term value to all shareholders.

UBA’s Executive Director, Finance & Risk, Ugo Nwaghodoh, who also spoke on the result, pointed out that the Group delivered steady growth in earnings, with gross earnings rising to N2.47 trillion, driven by a 10.1% increase in interest income and a 6.2% uplift in net interest income.

He noted that total assets grew by 7% to N32.5 trillion, supported by focused deposit mobilisation and increased investment in earning assets.

“Shareholders’ funds expanded by 26% to N4.3 trillion, underscoring the continued confidence of investors in the Group’s strategy, while capital adequacy and liquidity ratios remain well above regulatory thresholds and provide significant buffers to support continued growth,” he explained.

Speaking on the bank’s efforts to consolidate its performance for the rest of the 2025 financial year and beyond, Nwaghodoh said, “We remain focused on sustaining profitability, expanding our digital income streams, and delivering long-term value to our shareholders.”

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.

A Federal High Court in Abuja has halted the Peoples Democratic Party’s (PDP) planned 2025 national convention, pending compliance with the party’s rules, the Nigerian Constitution, and the Electoral Act.

Justice James Omotosho issued the order while ruling on a suit brought by three dissatisfied members of the opposition party, who argued that due process was not being followed ahead of the convention.

The court also restrained the Independent National Electoral Commission (INEC) from accepting or recognising any report from a national convention conducted without strict adherence to legal and party guidelines.

In his judgment, Justice Omotosho held that INEC cannot validate or act on the outcome of a convention that fails to comply with the Constitution, Electoral Act, and internal party regulations.

The claimants told the court that the PDP had scheduled its national convention for November 15 and 16, 2025, in Ibadan, Oyo State, where new national officers were expected to emerge, but insisted the process violated the party’s constitution.

The defendants in the suit include INEC; the PDP; National Secretary Samuel Anyanwu; National Organizing Secretary Umar Bature; the party’s National Working Committee (NWC) and National Executive Committee (NEC); as well as Ambassador Umar Iliya Damagum, Ali Odefa, and Emmanuel Ogidi.

Presidential spokesperson Bayo Onanuga has defended President Bola Tinubu’s decision to amend the controversial pardon list, saying the move reflects strength and accountability rather than weakness.

On Wednesday, President Tinubu ordered that individuals convicted for serious offences such as kidnapping, drug trafficking, human trafficking, fraud, and illegal possession of firearms be removed from the federal government’s pardon and clemency list.

Earlier, on October 11, Tinubu had approved pardons and other forms of clemency for 175 persons after the council of state endorsed the move. Among those initially pardoned was Maryam Sanda, who had been sentenced to death for killing her husband, Bilyamin Bello.

However, amid public uproar over her inclusion, Tinubu reversed the decision and reduced Sanda’s sentence to 12 years’ imprisonment instead of granting her full pardon.

Speaking on Prime Time, an Arise TV programme, Onanuga said Nigerians should understand that the president is capable of making mistakes but also willing to correct them in the interest of the public.

He explained that Tinubu pays close attention to public opinion and media reports and is not afraid to reconsider decisions when necessary.

“What Nigerians ought to have seen now is that this president is not one that is afraid to reverse himself if he feels like he’s made some error,” he said. “He’s a human being. He can make mistakes. He listens to the public. This is a president who wakes up in the morning to read all Nigerian newspapers and to watch the TV and knows what’s going on.”

Onanuga stressed that the president’s readiness to reassess decisions shows decisiveness, not indecision.

“It’s a matter of strength for you to do something, appraise it and make some adjustments,” he added.

Addressing the backlash surrounding Sanda’s case, Onanuga acknowledged that most of the public criticism stemmed from her inclusion, but pointed out that even after the review, some drug-related offenders still benefited from clemency.

“Most of the criticisms were coming from the case of Maryam Sanda, whom the court found guilty and sentenced to death for killing her husband,” he said. “As to whether the president freed drug convicts, even the second list contains some drug offenders who were also given clemency.”