Business
NYSC Members Win N10m Cash Prizes in Unity Bank Corpreneurship Challenge
NYSC Members Win N10m Cash Prizes in Unity Bank Corpreneurship Challenge
No fewer than 30 winners have emerged in the fifth edition of Unity Bank Plc’s flagship business plan competition, Corpreneurship Challenge, which held across ten states last week.
The 30 winners who won cash prizes totalling N10 million emerged during the final business pitch in the fifth edition of the contest for NYSC 2021 Batch A Stream II Orientation Course, which took place simultaneously across ten NYSC camps in Lagos, Ogun, Benin, Abuja and Akwa Ibom.
Other NYSC camps where winners emerged also included Ogun, Kano, Sokoto, Enugu and Osun.
As in the previous editions, the cash prizes included a N200,000 business grant for each of the second runner ups; N300,000 business grant for the first runner ups and a star prize of N500,000 for each of the ten winners.
Some of the winners included Monday Love Sheba, Adeoye Janet and Essien Nsikak in Bayelsa camp, while Agu Ogechukwu Lilian, Obichukwu Victor and Abiona Elizabeth emerged as the winners in the Akwa Ibom State camp.
In Ogun, Olisa Sofia, Chiamaka Goldleen and Ifeanyi Onoh emerged winners to claim the cash prizes. Ekpenyong Paul Gabriel also emerged as the winner in Sokoto.
The initiative attracted massive interests among the corps members, as over 1000 applications were received but only 100 were shortlisted for the pitching session from where the thirty winners emerged.
The contestants’ business plans which ranged from fashion, fish production, poultry farming, retail chains, piggery to beverages were assessed on originality, marketability, future employability potential of the product and knowledge of the business.
Recall that Unity Bank debuted the Entrepreneurial Development Initiative in 2019, to specifically target corps members, as part of efforts to contribute to job creation in Nigeria. The initiative has produced 48 winners since 2019 when it debuted.
Speaking at the finale in Akwa Ibom State, the overall winner, Lilian Agu, a graduate of Mass Communication and Chinese Language from Federal Polytechnic, Oko expressed gratitude to Unity Bank for the opportunity to actualise her dream of establishing a fashion outfit.
“With this money, I plan to buy an industrial machine, rent a studio, buy a generator and buy some fabrics and start from there. Unity Bank has made my dream come true. I am not from a rich home and I have been dreaming and working hard to start a fashion business, but this grant has made that dream a reality. God bless Unity Bank,” she said.
Also, speaking during the finale in Akwa Ibom NYSC camp, the Divisional Head, Retail, SME Banking and E-Business Directorate, Unity Bank Plc, Mr. Olufunwa Akinmade, said the competition has proved to have a great impact on youth empowerment in the country.
“The Unity Bank Corpreneurship has a very positive impact, not only for the corps members but for the entire youth population in Nigeria. It is a way to support the young men and women who are just graduating from university to grow.
“You will agree that it is not easy today to come out of the university and get a paid job, and so at this tender age, it is good that they imbibe that culture of entrepreneurship, and then with the financial support that they get from Unity Bank and the knowledge that they have acquired through the competition, they will be able to grow from job seekers to employers of labour.”
Represented by Mr. Etop Ukpe, the Uyo Regional Manager, Mr. Akinmade reiterated that “The grants are not a loan and the winners are expected to channel the funds to profitable ventures to achieve the objectives of the scheme.”
Going down memory lane, Mr. Akinmade recalled that what started in 2019 with a pilot in four states have now expanded to ten additional states and is well on its way to achieving national coverage.
He said: “We started Corpreneurship in 2019, with a launch in Lagos and in three other states which included Edo, Ogun, and Abuja. So, today we have expanded it to ten locations, and it has been hugely successful.
“This is a programme that will stand the test of time, but all we are doing is to support NYSC corps members to start their own business no matter how small and then grow with it. Unity Bank will continue to be part of their journey, to offer them a startup capital as well as business mentorship.”
The Nigerian National Petroleum Company (NNPC) Limited has reduced its premium motor spirit price in Abuja.
Some motorists in Abuja confirmed the new fuel price adjustment at some NNPC retail outlets.
Reports quoted Abdullahi Hashim, a resident of Kubwa, Abuja, to have said: “I observed the drop in the fuel price to N935 per litre on Saturday morning. It is a welcome development.”
“I think I first saw this new price adjustment in Town, Wuse Zone 4 area, on Friday. NNPC filling station at Kubwa Expressway is just reflecting it,” Bukola Adewole also said.
The development comes after Dangote Refinery announced in its ex-depot petrol price to N835 per litre from N865.
The 650,000 barrels per day refinery had announced that its partners, such as MRS and AP filling stations, are expected to sell petrol between N890 and N920 per litre, depending on the location.
Meanwhile, MRS filling stations in Abuja have not been dispensing petrol since Wednesday, April 16, 2025, when Dangote Refinery announced a slash in ex-depot petrol price.
Technology and digital solutions services provider, Globacom, on Tuesday opened a retail shop in Ogbomoso, Oyo State. The opening of the retail shop is meant to bring Glo products and services closer to the people of the area.
Speaking at the event, Mr. Ikechukwu Onuekwusi, Globacom’s Retail Sales Chief for Oyo Division, stated that the commissioning of the retail and customer service shop was in keeping with Globacom’s goal of expanding its platforms to enable customers access its extensive array of products and services.
Said he: “As you are aware, our approach to customer service is underpinned by innovation and total inclusiveness. This is why we are consistently seeking innovative channels to make available our array of services to them”.
He disclosed that the newly commissioned facility also stocks high-end and reasonably priced devices, smartphones, and other accessories. He also assured customers in and around Ogbomoso of quick and satisfactory resolutions of all issues ranging from SIM replacement and registration to recovery of over-scratched cards, refilling, unblocking of phones and laptop configurations for internet services, among other services.
Globacom promised that courteous, well-trained, and customer-friendly staff have been deployed to the new shop to offer first-rate services and handle client complaints in addition to meeting their needs for products and services.
Honorable Timothy Oyedokun, the Chairman of Ogbomoso South Local Government, praised Globacom for always providing Nigerians with various forms of relief. He also commended Globacom for being a proud Nigerian company.
“Since I have known Globacom, it has not changed in its resolve to serve the people of this nation. This shows that the management holds the wellbeing of the people in high esteem”, he noted.
Equally, Mrs. Olufunke Olaniyi, the Local Government Secretary, Ogbomoso North Local Government, who spoke on behalf of the Chairman, Hon. George Gbadegesin Ogunlade, noted that the Glo “network belongs to us, so I want to encourage all sons and daughters to patronize Globacom”.
Business
UBA Expands Operations to Saudi Arabia, France, to Focus on Digital Transformation, Others in 2025
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has outlined its roadmap for the 2025 financial year, with a strong focus on innovation, digital transformation, physical and financial strength as well as its global reach.
On the back of its full-year financial performance for the year 2024, which was released to stakeholders on Tuesday, the bank disclosed plans to accelerate growth through strategic investments in technology, enhanced risk management frameworks, and capital efficiency.
UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who was speaking to its global investors during the Full year 2024 Investors Conference Call, which held at the UBA Head Office on Thursday, explained that the performance reflected broad-based growth across its core businesses, surpassing previous records and reinforcing its status as a leading global financial institution.
At the end of the 2024 full-year, the bank delivered an exceptional financial performance as the results showed an impressive rise in the bank’s profit after tax which went up by 26.14 percent to close the year at N766.6 billion up from N607.7 billion recorded at the end of the 2023 fiscal year.
Its Gross earnings also grew significantly from N2.07tn recorded at the end of the 2023 financial year to N3.187tn in the period under consideration, representing a 53 percent growth.
Despite the highly challenging global economic and business environment, UBA recorded a profit before tax of N803.72 billion representing a 6 percent increase from N757.68 billion recorded at the end of the 2023 financial year.
Consequently, UBA Group Shareholders’ Funds rose from N2.030 trillion as at December 2023 to close the 2024 financial year at N3.419 trillion, achieving an impressive growth of 68.39 percent.
As a result of the impressive performance the bank proposed a final dividend of N3.00 kobo for every ordinary share of 50 kobo, for the financial year ended December 31, 2024.
Alawuba told the investors at the meeting that the bank is set to further surpass its growth projection through strategic investments in technology, enhanced risk management frameworks, and disciplined capital efficiency.
“We will continue to push the frontiers of innovation and technology adoption to build sustainable value for shareholders by making strategic investments in technology. Our team of committed and motivated workforce will continue to work assiduously to sustain our performance and propel the bank in delivering high-impact, customer-centric product offerings,” Alawuba stated.
He disclosed that the bank is on course to sustain the momentum that it has achieved in the past years, adding that “We shall remain focused on best-in-class risk management strategies in navigating emerging market uncertainties while ensuring financial strength, full regulatory compliance, and long-term sustainability.”
This performance underscores UBA’s ability to generate sustainable revenue growth through core operations, including increased loan book growth, deposit mobilization, and transaction banking.
While disclosing the Bank’s finalisation of its planned expansions to France and Saudi Arabia, he said that the Bank’s ex-Nigeria (Rest of Africa & International) operations have expanded significantly over the past five years, now contributing 51.7% of Group revenue, up from 31% in 2019, “delivering diversification benefits and further boosting long-term shareholder value. This will continue to grow, as we further explore strategic markets that align with our overall vision.”
UBA’s Executive Director, Finance & Risk Management, Ugo Nwaghodoh, said the bank recorded triple digit growth in net interest income, resulting in remarkable improvement in net interest margin from 6.83 percent in 2023 to 9.14 percent, while also recording strong double-digit growth in fee and commission income lines of 91.66 percent.
He explained that as the bank navigates evolving risks, its management remains focused on responsible growth, delivering customer-focused value propositions, whilst ensuring compliance with regulatory requirements in all jurisdictions.
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.
