Business
APCON to Sanction Sterling Bank for ‘Provocative’ Agege Bread Advert
The Advertising Practitioners Council of Nigeria on Monday described as offensive and provocative, an Easter advert by Sterling Bank Plc comparing the resurrection of Christ with the rising of Agege Bread.
APCON also said the advert copy was not submitted for approval before it was made public.
In a statement on Monday signed by its Registrar and Chief Executive, Olalekan Fadolapo, APCON said the advert was distasteful, noting that Sterling Bank Plc would be punished for the action.
The bank, in the now-deleted social media post over the weekend, had attracted criticisms as the same copy was sent to the email of the bank’s customers.
The copy showed a puffed, golden brown, halved Agege Bread with the caption, ‘Like Agege Bread, He Rose… Happy Easter’.
Many social media users had lambasted Sterling Bank Plc over the denigratory comparison and the bank had deleted the posts on its social media handles amid the swelling outrage, mostly by Christians.
The bank subsequently uploaded another copy of an opened tomb significant of Christ’s departure from the grave and added the caption, ‘…let the one who has never sinned throw the first stone.’
Reacting, however, in its statement, APCON condemned the action of the bank which it said was blasphemous.
The statement was titled, ‘Sterling Bank Agege Bread Easter Advertisement’
It read, “The Advertising Practitioners Council of Nigeria has observed with displeasure the insensitive and provocative Easter celebration advertisement by Sterling Bank Plc which compared the resurrection of Christ with Agege Bread.
“The distasteful advertisement was neither submitted nor approved for exposure by the Advertising Standards Panel, the statutory Panel charged with the responsibility of ensuring that advertisements conform with the prevailing laws of the federation as well as the code of ethics of Advertising in Nigeria.
“APCON will take necessary actions to ensure that Sterling Bank is sanctioned for the exposure of such offensive advertisement according to law and that no religious belief or faith is ridiculed or any blasphemous advertisement exposed in any guise.”
The Punch
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has unveiled a diaspora banking and investment platform designed to serve Africans living and working across the world and within the continent.
The platform, launched in collaboration with leading ecosystem partners including United Capital, Africa Prudential, UBA Pensions, Afriland Properties, Heirs Insurance Group, and Avon Healthcare Limited — represents a major step in redefining diaspora banking beyond remittances toward structured wealth creation and long-term investment.
At the unveiling, which took place at UBA’s global headquarters in Lagos under the theme: “Beyond Banking: Powering the Global African Lifestyle, all the company representatives were on hand to showcase a seamless platform that goes beyond remittances, wealth creation, protection, and long-term prosperity.
Speaking at the event, UBA’s Head of Diaspora Banking, Anant Rao, described the initiative as a strategic shift in how Africa engages its global citizens.
“For decades, Africa’s engagement with its diaspora has focused largely on remittances. Today, we are moving beyond that. This platform represents a transition from simple money transfers to a financial ecosystem where Africans globally can bank, make payments, invest, protect their families, and build long-term wealth seamlessly,” he said.
Rao noted that African diaspora remittance flows exceed $100 billion annually, making them one of the most resilient and consistent sources of capital into the continent.
“Diaspora capital is not just a flow of funds — it is a strategic growth partner for Africa.
Our role is to provide a trusted platform that converts capital into structured investment and shared prosperity across the continent.”
The objective is to provide a platform that brings together offerings across the numerous needs of the Global African, including Banking and payments, Investments, securities services, asset management, Insurance, Pensions, real estate and Pensions.
Through this coordinated ecosystem, diaspora customers can access financial solutions across multiple sectors through a single trusted platform, enabling them to manage their financial lives and family commitments across borders with ease and transparency.
UBA’s Group Head, Marketing and Corporate Communications, Alero Ladipo, emphasised the importance of collaboration in delivering a seamless diaspora experience.
“The modern African is a global citizen — mobile, ambitious, and deeply connected to home. Whether living in Africa, Europe, the Americas, or the Middle East, there must be a structured and secure financial connection back home. This platform ensures that Africans everywhere can remain economically connected to the continent with confidence and transparency.”
Partners within the ecosystem highlighted growing demand among diaspora Africans for structured investment opportunities, secure property ownership, insurance protection, and long-term financial planning.
United Capital showcased globally accessible investment products designed to deliver professionally managed and transparent wealth creation opportunities.
Afriland Properties emphasised structured and well-governed real estate investment pathways for diaspora clients.
Heirs Insurance highlighted protection solutions for life, and assets, while Avon Healthcare Limited demonstrated healthcare access and insurance solutions for families across borders.
Africa Prudential and UBA Pension reinforced digital investment management and long-term pension savings solutions designed to support diaspora participation in African capital markets.
Together, the partners underscored a shared commitment to providing diaspora Africans with credible, transparent, and professionally managed financial pathways.
Rao also reiterated the guiding philosophy of Africapitalism, championed by UBA’s Founder and Chairman, Mr. Tony O. Elumelu, CFR.
He explained that Africapitalism is the belief that Africa’s private sector must play a leading role in the continent’s development by making long-term investments that generate both economic returns and social impact.
As Africa continues to position itself as one of the world’s most dynamic growth frontiers, UBA believes mobilising diaspora capital through trusted financial institutions will be central to shaping the continent’s next phase of development.
“Africa will increasingly be financed by Africans themselves, including Africans abroad.
“Our responsibility is to build the trusted financial infrastructure that makes this possible.
“When Africa’s global citizens invest back into Africa, growth becomes inevitable,” he concluded.
The Dangote Petroleum Refinery has achieved a major operational milestone with the full restoration and optimisation of its Crude Distillation Unit (CDU) and Motor Spirit (MS) production block. Both units are now running at optimal performance, further strengthening the steady state operations of Africa’s largest oil refining facility.
Following a scheduled maintenance exercise on the CDU and MS Block, the refinery has commenced an intensive 72 hour series of performance test runs in collaboration with licensor UOP. These tests are designed to validate operational efficiency and confirm that all critical parameters meet global standards.
Chief Executive Officer, David Bird, noted that the seamless integration and strong performance of the units demonstrate the refinery’s advanced engineering and robust operational capabilities.
“Our teams have demonstrated exceptional precision and expertise in stabilising both the CDU and MS Block, and we are pleased to see them functioning at optimal efficiency. This performance testing phase enables us to validate the entire plant under real operating conditions. We are confident that the refinery remains firmly on track to deliver consistent, world class output.
This milestone underscores the strength, reliability, and engineering quality that define our operations. We remain committed to producing high quality refined products that will transform Nigeria’s energy landscape, eliminate import dependence, and position the nation as a net exporter of petroleum products.”
Bird added that the CDU and MS Block, which comprise the naphtha hydrotreater, isomerisation unit, and reformer unit, are now operating steadily at the full nameplate capacity of 650,000 barrels per day. He further confirmed that all remaining processing units will begin their respective performance test runs in Phase 2, scheduled to commence next week.
During the recent festive period, the refinery supplied between 45–50 million litres of Premium Motor Spirit (PMS) daily. With the CDU and MS Block now fully restored, the refinery is positioned to comfortably deliver up to 75 million litres of PMS to the domestic market as required.
Expressing appreciation to customers and Nigerians across the country, Bird reaffirmed the refinery’s unwavering commitment to enhancing Nigeria’s energy security while supporting industrial development, job creation, and economic diversification.
