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Q3 2025: UBA Delivers N538bn PAT, Robust Balance Sheet

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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.

BIG STORY

Lagos Brings Back Monthly Environmental Sanitation April 25

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The Lagos State Government has announced the resumption of the monthly environmental sanitation exercise, nearly a decade after it was suspended in the State.

Residents are expected to clean their surroundings, clear drainage channels in front of their homes, and dispose of waste responsibly as part of efforts to improve environmental hygiene and tackle waste management challenges.

The Commissioner for Environment and Water Resources, Tokunbo Wahab, on Saturday, disclosed the development in a statement, explaining that the exercise would officially restart later in the year.

“I am pleased to inform all Lagosians that the monthly environmental sanitation exercise will resume effective Saturday, 25th April 2026, holding on the last Saturday of every month from 6:30 a.m. to 8:30 a.m.

“During this period, residents are enjoined to clean their surroundings, clear drainage channels in their frontages, and dispose of waste properly as a civic responsibility.”

Wahab urged residents to view the initiative as a shared duty toward building a healthier city, stressing that the government would ensure strict compliance.

“This exercise is a collective responsibility and a vital part of our commitment to a cleaner, healthier, and flood-resilient Lagos. And it shall be backed with the full enforcement weight of the Lagos State Government,” he said.

Explaining the significance of reintroducing the sanitation culture, the commissioner said the state was returning to a practice that once formed part of Lagosians’ lifestyle.

“Let me formally say this and say it boldly. Mr Governor and his deputy are taking a very audacious step. For those who don’t know, prior to 2016, we had a culture that emphasised cleanliness as next to godliness.

“Once every month, we took our time to clean up our surroundings and then maintain them sparkling. However, for some years, we stopped it.”

He said the absence of the exercise had contributed to mounting environmental pressures in the state.

“Now, waste, debt, and environmental challenges have become an existential challenge to us as a state. It’s taken us over a year to debate, talk, and agree that it’s time to reintroduce a monthly environmental sanitation,” Wahab said.

Appealing to residents for cooperation, he urged Lagosians to dedicate a small portion of their time each month to environmental cleanliness.

“It’s a plea that it is time for us to give up just one or two hours a month. In our marketplaces, every Thursday, we observe environmental cleanliness. But this time, we are saying as a state, let us sit back once a month and observe the cleanliness of our environment as we used to before 2016.”

The monthly sanitation exercise, previously held on the last Saturday of every month between 7 a.m. and 10 a.m., was suspended in November 2016 following a legal pronouncement restricting movement during the exercise.

The suspension later coincided with growing waste management concerns, including clogged drainage channels and indiscriminate refuse disposal across parts of the state.

 

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BIG STORY

Disu: “Egbetokun and I Never Dreamed of Becoming Inspector General”

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The Inspector-General of Police, Olatunji Disu, on Thursday paid glowing tribute to his predecessor, Kayode Egbetokun, recalling their early professional relationship while serving under President Bola Tinubu during his tenure as governor of Lagos State.

Disu spoke at the pulling-out ceremony held in honour of Egbetokun at the Force Headquarters in Abuja, marking the retirement of the former police chief after decades of service in the Nigeria Police Force.

In his remarks, Disu described Egbetokun’s career as one marked by dedication, professionalism and strong leadership, noting that a defining chapter in the former IG’s career was his service as Chief Security Officer to the Lagos State Governor at a time when Tinubu was in office.

He said it was during that period that their professional paths first intersected.

“A defining chapter in his professional life was his service in Lagos State Government House, where he served as Chief Security Officer to the Governor of Lagos State, at a time when His Excellency, Senator Bola Tinubu, now President of the Federal Republic of Nigeria, was Governor.

“It was during that period that our professional paths intersected in a most memorable way.

“While IGP Egbetokun (retd.) served as Chief Security Officer to the governor, I had the honour of serving as Aide-de-Camp to the same governor.

“Working together under demanding circumstances, we shared the responsibility of ensuring the safety and security of the Governor and the Government of Lagos State,” Disu said.

The police chief said neither of them could have imagined at the time that years later, Egbetokun would rise to become the Inspector General of Police and that he would eventually succeed him in the same office.

According to him, the development reflected how years of service and dedication sometimes align in unexpected ways.

“At that time, neither of us could have imagined that years later, destiny would place him at the helm of the Nigeria Police Force as Inspector General of Police, and that I would have the honour of succeeding him in that office.

“It is indeed one of those remarkable coincidences of history that reminds us how the threads of service sometimes weave themselves across time in unexpected ways,” he said.

Disu noted that throughout his career, Egbetokun rose steadily through the ranks, serving in various command, operational and training capacities across the country.

He highlighted Egbetokun’s leadership roles, including commanding the Rapid Response Squad in Lagos, Police Mobile Force operations, and serving as Area Commander in Osogbo and Gusau.

The IGP also commended Egbetokun’s contributions to police training and capacity development, citing his service as Commandant of the Police Training School, Ikeja, and later as Deputy Commandant of the Police College, Ikeja.

He said Egbetokun’s tenure as Inspector General was guided by a vision to build a professionally competent, service-driven, rule-of-law-compliant and people-friendly police force.

According to him, the former police chief implemented reforms to strengthen operational efficiency, enhance professionalism, improve personnel development, and deepen public trust in policing.

Disu added that Egbetokun emphasised intelligence-driven policing, strengthened training and reinforced institutional values such as discipline, accountability and service.

He further noted that Egbetokun’s leadership style, characterised by calmness, intellectual depth, and strategic foresight, helped guide the Nigeria Police Force through complex security challenges during his tenure.

In his speech, Egbetokun highlighted key reforms and institutional improvements achieved during his tenure as the Inspector-General of Police.

According to him, his administration pursued reforms to reinforce professionalism, promote merit-based advancement, and strengthen intelligence-led policing.

He noted that as part of the reforms, the Intelligence Bureau was expanded and upgraded to a full department headed by a Deputy Inspector-General of Police, while the Legal and Medical units were elevated to directorate status to improve institutional efficiency and service delivery.

Egbetokun also said the Force further developed its cybercrime centre into a sophisticated facility capable of monitoring Nigeria’s cyberspace and supporting modern investigations.

He added that investigative and operational capacity was strengthened through improvements to the National Criminal Database and enhanced professional training for operators across commands up to the divisional level.

The former police chief said operational presence was expanded through the establishment of additional Police Mobile Force squadrons, new Area Commands and Divisions, as well as the creation of the Special Intervention Squad, which he said had recorded notable successes across the country.

He also said progress was made in improving police infrastructure, including the completion of barracks redevelopment projects in Kano and Kaduna and the commissioning of modern state command headquarters in Ogun and Adamawa states.

Egbetokun, who was appointed on June 19, 2023, by President Tinubu, resigned on February 24, paving the way for the appointment of Disu.

In 2024, the IG’s continued stay in office sparked widespread controversy after Egbetokun officially reached the mandatory retirement age of 60 on September 4.

However, his stay in office was extended following the amendment to the Police Act.

 

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BIG STORY

Popular Skit Maker Broda Shaggy Shot While Filming In Sango-Ota, Hospitalised In Lagos

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Popular comedian, skit maker and social media influencer, Samuel Perry, popularly known as Broda Shaggy, has been hospitalised after he was allegedly shot in the Sango-Ota area of Ogun State.

According to Punch Newspaper, the incident occurred under the Sango-Ota bridge on Sunday afternoon.

Although the circumstances surrounding the shooting remain unclear, a police source who spoke on condition of anonymity because he was not authorised to comment on the matter said the content creator sustained the gunshot injury while filming a comedy skit at the location.

According to the source, Broda Shaggy was immediately rushed to the Blooming Care Hospital in the Alakuko area of Lagos State, where he received initial treatment.

“He was shooting a skit under the Sango-Ota bridge when he sustained a gunshot injury. We don’t have details on how it happened yet, but his crew members who were present quickly rushed him to the hospital,” the source said.

The source added that medical personnel at the hospital administered first aid upon his arrival.

Further findings, however, revealed that he was later referred to Duchess Hospital in the Government Residential Area, Ikeja, where he is currently recuperating.

Efforts by our correspondent to reach both hospitals were unsuccessful, as calls made to the contact numbers listed on their social media pages did not connect. A text message sent to them had yet to be replied to as of the time of filing this report.

When contacted on Thursday, the spokesperson for the Lagos State Police Command, Abimbola Adebisi, confirmed the development, noting that the police were alerted by the hospital.

“The hospital contacted the police to report that a gunshot victim had been brought to their facility. Detectives and a patrol team were immediately mobilised to the hospital, where they discovered that the victim was a skit maker and social media influencer popularly known as Broda Shaggy.

“He was seen on a stretcher with an injury to his thigh. The location of the incident is in Sango-Ota and not within our jurisdiction, but the investigation is ongoing,” she said.

When contacted for further clarification, the spokesperson for the Ogun State Police Command, Oluseyi Babaseyi, said the incident had not been reported to the police in the state.

“The incident was alleged to have occurred in Ogun State, but it was not reported,” he said.

Broda Shaggy’s manager, Olufemi Oguntamu, also known as Penzaar, did not respond to calls made to his phone. A text message sent to him had yet to be replied to as of the time of filing this report.

 

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