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UBA Joins PCAF Global Core Team, Leading The Way In Carbon Accounting

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, has been admitted as a member of the prestigious Partnership for Carbon Accounting Financials (PCAF). By this admission, UBA is the only financial institution from West Africa to be selected and listed among the 14 members of the global core team representing all regions.

The selection process, which attracted over 50 highly qualified candidates from the PCAF signatory community, highlighted UBA’s exceptional commitment and leadership in sustainable finance, and as a core team member, the bank will contribute to the development of international accounting standards for the financial industry.

The Chief Executive Officer, PCAF, Ace Robinson, commended UBA and the new core team members for their exemplary contributions.

He specifically pointed out that UBA is the only bank from West Africa on the global core team, emphasising the bank’s alignment with PCAF standards.

He said, “UBA stood out exceptionally after a rigorous application process, which attracted over 50 highly qualified candidates from across the PCAF signatory community. The bank is the only financial institution from west Africa to be listed on the prestigious global core team, that is commendable and shows that UBA is indeed in the forefront when it comes to pushing the Carbon Accounting agenda.

UBA’s Head of Sustainability, Chidozie Ezike, expressed gratitude at the opportunity for the bank to serve as a PCAF member, just as he emphasized UBA’s dedication to inclusivity, social responsibility, decarbonization, responsible business practices, and strong governance.

He pointed out that sustainability is a strategic focus for UBA in driving economic, social, and environmental value across the bank and its entire value chain, adding that “We remain a purpose driven organisation, dedicated to Africa’s long-term wellbeing and to generating social economic and environmental value, which is an outcome we regard just as important as our financial results.

With UBA’s inclusion in the PCAF global core team, the bank is poised to deepen its engagement with the PCAF standards and contribute to greater international consistency and comparability of financed emission accounting.

The new members of PCAF’s Global Core Team are: UBA’s Chidozie Ezike (Nigeria), Emily Rodgers of EIG (US), Frida Panayi of Metrics Credit Partners (Australia), Giel Linthorst of ING (Netherlands), Hetal Patel of Phoenix Group (UK), Jamie Mattison of Morgan Stanley (US), Maren Bodenschatz of Swiss Re (Switzerland), Melanie Janse van Vuuren of Investec (South Africa and UK), Rafael Martins de Oliveira of Itau Unibanco (Brazil).

Others are Ryan Greenwald of PIMCO (US), Sharad Tuladhar of NMB Bank (Nepal), Sharna Bourke of the Commonwealth Bank of Australia (Australia), Stefan Henningsson of Nordea (Finland) and Yu Takita of Mizuho Financial Group (Japan). The group is chaired by Hetal Patel, Head of Climate Investment Risk at Phoenix Group.

UBA is a leading pan-African financial institution, offering banking services to more than thirty-seven million customers across 1,000 business offices and customer touch points in 20 African countries.

With a presence in New York, London, Paris, Cayman Island and now the UAE, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.

 

BIG STORY

New Bill Mandates Tax ID For Opening Bank Accounts

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A new bill has been proposed in Nigeria that will require individuals using banking, insurance, stock-broking or other financial services to provide a Tax Identification Number (TIN) as a condition to open a new account or operate an existing one.

The bill aims to improve tax compliance and revenue collection. It requires anyone engaged in financial activities to register for tax and obtain a TIN.

Non-residents supplying taxable goods or services to Nigerians, or deriving income from Nigeria, must also register for tax and get a TIN. However, non-residents earning only passive income from Nigerian investments are exempt from registration but must provide relevant information.

The bill empowers the relevant tax authority to automatically register and issue a TIN to individuals who fail to do so themselves. Failure to comply may result in penalties.

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It Will Be Undemocratic: Why Military Hasn’t Gone After Asari-Dokubo — DHQ

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The Defence Headquarters clarified on Thursday that it has refrained from taking action against former Niger Delta militant warlord, Mujahid Asari-Dokubo, to avoid accusations of acting “undemocratically.”

The Director of Defence Media Operations, Maj. Gen. Edward Buba, stated this in Abuja while addressing a recent report concerning Asari-Dokubo’s alleged threat to shoot down a military helicopter that had reportedly flown near his residence.

Speaking to journalists, the DHQ spokesman dismissed Asari-Dokubo’s threat as “laughable,” daring him to engage soldiers in actual combat if he felt confident enough.

Buba remarked, “Now, the comment by an individual that he can shoot down military helicopters is laughable. And I am about to laugh at that. We are in a democracy, and we are professionals. Of course, we cannot just, based on somebody’s comments, begin to take certain actions. They would accuse the military of being undemocratic.

“The military is not the only security force or department in the country. There are other security agencies that have a constitutional role to play in handling such issues.

“I tell you that he doesn’t have that capability, but I will allow the security forces responsible for such matters to take it up. As for us, come to the battlefield, and we’ll take you out. He should come to the battlefield and see whether we can react or not.”

Buba further emphasized that the military’s primary objective remains targeting terrorists across various regions of operations.

“For us, the enemy we fight are the terrorists. Some may choose to call them different names in the different theatres of operations where they exist. In the North-West and North-East, some will say terrorists; some may prefer to call them bandits.

“I tell you, they are all terrorists, and that is what we see. Troops are making significant progress. As I mentioned earlier, we prioritise eliminating terrorist leadership, and we have been doing just that. In the last three quarters, we have taken out over 300 terrorist commanders, not to mention their foot soldiers.

“Our aim is to diminish their fighting capabilities and damage their military capabilities, which we have been successfully doing. As indicated in the brief you received, you can see how many weapons and ammunition we have recovered.”

Buba also disclosed that a prominent terrorist leader in Jigawa State, known as Mai Hijabi, was neutralized in a recent operation conducted during the week.

He reported that 165 terrorists were killed, and 238 individuals were arrested.

“Our operations have destroyed a substantial part of the combat capacity of these terror groups and their leadership. For instance, one of the notorious terrorist commanders in Jigawa State, known as Mai Hijabi, was eliminated from the battlefield during the week. Troops are, therefore, increasingly making significant strides across all theatres of operations.

“During the week under review, troops neutralised 165 terrorists, arrested 238 persons, and rescued 188 kidnapped victims.”

Buba also mentioned the arrest of 35 suspected oil thieves in the South-South region and the prevention of oil theft worth an estimated N688,125,150.00.

“Troops in the Niger Delta area discovered and destroyed two dugout pits, 58 boats, and 39 storage tanks. Other items recovered include 13 cooking ovens, 35 drums, one motorcycle, one tricycle, four speed boats, 13 vehicles, and 65 illegal refining sites. Troops recovered 789,200 litres of stolen crude oil and 64,950 litres of illegally refined AGO.”

Buba went on to say that troops also recovered 153 assorted weapons and 2,182 rounds of ammunition.

The recovered items include 81 AK-47 rifles, 23 fabricated rifles, 27 Dane guns, 13 pump-action guns, five locally-made pistols, three revolver pistols, 30 AK-47 magazines, and one bayonet.

Other seized materials included, “1,561 rounds of 7.62mm special ammunition, 278 rounds of 7.62mm NATO ammunition, 70 rounds of 50mm ammunition, 72 rounds of 9mm ammunition, 87 live cartridges, one Baofeng radio, 19 vehicles, 21 motorcycles, 45 mobile phones, and the sum of N64,100.00, among other items.”

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BIG STORY

Ondo SS3 Female Student Arrested For Allegedly Killing Colleague

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A female Senior Secondary 3 student of Akoko Anglican Grammar School, Arigidi Akoko, in Akoko North-West Local Government Area of Ondo State (name withheld) has been arrested by the state police command for allegedly stabbing her male colleague, Habib Salau, to death.

The incident reportedly occurred following an argument between the two outside the school premises after school hours.

The state Commissioner of Police, Mr. Abayomi Oladipupo, confirmed the arrest on Thursday while parading 12 other suspected criminals at the command’s headquarters in Akure.

Abayomi stated that the matter had been transferred to the Criminal Investigation Department of the command and that a thorough investigation would follow.

The CP said, “The suspect is with us and the matter has been with the CID and we shall begin the investigation.”

He further noted that the 12 suspects were allegedly involved in crimes such as murder, arson, stealing, attempted robbery, armed robbery, and burglary.

As the state prepares for the upcoming governorship election, the CP urged politicians to maintain peace, emphasizing that the command “would not tolerate any act of violence” before, during, or after the poll.

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