By Rukevwe Odeh

United Bank for Africa (UBA) Plc has announced that its Group Chairman, Tony Elumelu, will retire from the bank’s Board of Directors on August 21, 2026, marking the end of a 12-year tenure in line with the Central Bank of Nigeria’s corporate governance rules for non-executive directors.

The bank disclosed that its Board approved Elumelu’s retirement during a meeting held on July 6 and unanimously selected Emmanuel Nnorom, a long-serving Non-Executive Director, to assume the position of Group Chairman from the same date.

Elumelu’s leadership is widely credited with strengthening UBA’s position as one of Africa’s leading financial institutions. During his time as chairman, the bank expanded its footprint across 20 African countries and established operations in major international financial centres, serving more than 50 million customers worldwide.

In a farewell message, Elumelu described his years leading the bank as one of the most rewarding periods of his career. He expressed appreciation to the Board, management, employees, customers and shareholders for their support throughout his tenure, adding that he is confident UBA will continue to thrive under its new leadership.

The Board also commended Elumelu for his contributions, noting that his vision and strategic direction played a key role in transforming UBA into a leading pan-African banking group with a growing global presence.

Nnorom, who has served on the bank’s Board for several years, is expected to oversee the next phase of UBA’s growth as the institution continues to expand its operations across Africa and international markets.

By Rukevwe Odeh

Fresh documents have raised questions over the Presidency’s position that the alleged Presidential Foreign Investment Promotion Council (PFIPC) never existed. The records indicate that the Office of the Secretary to the Government of the Federation (SGF) received, acknowledged, and acted on official correspondence submitted in the council’s name months before it was publicly declared non-existent, according to the Punch Newspapers.

According to the documents, the SGF’s office forwarded a request for office accommodation made by Prince Adeniyi Adeyemi, who identified himself as the Director-General of the PFIPC. The request, originally submitted on November 7, 2024, was received by the SGF’s office on November 12 and later transmitted to the Economic and Financial Crimes Commission on November 21, 2024, for further consideration.

The forwarding letter, signed on behalf of the SGF by the Permanent Secretary of the General Services Office, stated that several government institutions had applied for office accommodation from recovered federal properties. Among the applications was the request from the PFIPC.

Adeyemi described the PFIPC as a federal agency responsible for attracting foreign investment into Nigeria, coordinating investment-related activities among government institutions, and promoting the country as an investment destination, The Punch reported.

The development comes amid an ongoing criminal case in which Adeyemi is accused of forgery, impersonation, and creating a fictitious government agency. Prosecutors allege that he forged official appointment letters and other presidential documents while presenting himself as the head of the council. Authorities also claim he used the alleged agency to communicate with government ministries and foreign officials. Adeyemi has denied the allegations.

The controversy has prompted renewed calls from civil society organisations for an independent investigation into the matter. The groups have urged the government to examine allegations relating to the agency’s activities, including claims involving public funds and official government processes, while ensuring transparency throughout the investigation.

By Charity Ebi

The Adamawa State Police Command has arrested four individuals suspected of being involved in a robbery attack targeting members of the National Youth Service Corps (NYSC) in Yola.

According to police reports, the suspects allegedly broke into a corps members’ lodge located within the Specialist Hospital area in Jimeta. During the incident, about 36 NYSC members were reportedly dispossessed of their belongings, including mobile phones and other valuables.

Following the complaint, operatives from the Karewa Area Command launched an investigation, which led to the arrest of the four suspects. Some of the stolen items, including several mobile phones, were recovered during the operation.

The police also disclosed that efforts are ongoing to track down other members of the gang who are still at large and to recover additional stolen property.

Authorities stated that the suspects will be charged to court upon the completion of investigations.

The Commissioner of Police in Adamawa State reassured residents, especially corps members, of improved security and urged the public to continue providing useful information that can assist law enforcement in tackling crime.