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Oliver Alawuba replaces Kennedy Uzoka as UBA GMD

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The United Bank for Africa (UBA) has named Oliver Alawuba as its new group managing director.

The bank made the announcement in a statement on Monday following the retirement of Kennedy Uzoka as the bank’s GMD

According to the bank, the appointment takes effect from August 1, 2022, subject to approval by the Central Bank of Nigeria (CBN).

Alawuba joined the UBA in 1997 and has held a series of senior positions, including the chief executive officer of UBA Ghana.

He was also the chief executive officer of UBA Africa, prior to the appointment.

In the new role, Alawuba will oversee all the group’s banking operations across its twenty African country network and globally in the United Kingdom, the United States of America, France, and the United Arab Emirates.

Speaking on the appointment, Tony Elumelu, UBA’s group chairman, said he is confident of Alawuba’s appointment.

“I am very pleased to announce Oliver Alawuba as the new group managing director of the UBA Group. Oliver has extensive experience in Nigeria and our African network and is well equipped to advance our pan-African and global strategy,” he said.

“I have no doubt that Oliver will build on the legacy of Kennedy Uzoka, who has exemplified transformational leadership by championing a customer-first philosophy; launching our twentieth operation in Africa, UBA Mali; acquiring a wholesale banking licence for UBA UK in the United Kingdom; and opening our fourth global operation, UBA Dubai, in the United Arab Emirates.”

On his part, Alawuba, who expressed his commitment to the new role, thanked the board members for the confidence reposed in him to lead the company.

“I am grateful for the opportunity to lead this great institution and would like to thank the UBA group chairman and the members of the board of directors for the confidence they have put in me to deliver the mandate,” he said.

The financial institution also announced Muyiwa Akinyemi as the deputy managing director.

According to the statement, Muyiwa joined the firm in 1998 as a senior banking officer in UBA’s energy bank and has served the group in Nigeria and its broader Africa network for twenty-four years.

Other executives UBA also appointed include Sola Yomi-Ajayi, executive director, treasury and international banking; Ugochukwu Nwagodoh, executive director, finance and risk management; Alex Alozie, executive director and group chief operating officer; and Emem Usoro, executive director, North Bank.

The bank further announced the retirement of some executive directors, who may choose to continue to serve the broader group upon regulatory approval of a holding company structure.

Apart from Kennedy Uzoka, former GMD; Uche Ike, Chukwuma Nweke, Ibrahim Puri, and Chiugo Ndubisi are other executive directors of the bank just retired.

For non-executive directors, Joe Keshi, OON, who served as vice-chairman of the board, also retired on August 1, 2022, after completing his 12-year tenure.

Elumelu, while acknowledging their exemplary records, congratulated the retiring directors on the completion of their tenures.

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Hyundai Unveils Mufasa, Grand Creta SUVs to Strengthen Nigeria Line-up (Updated)

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Hyundai Unveils Mufasa, Grand Creta SUVs to Strengthen Nigeria Line-up (Updated)

 

Hyundai Motors Nigeria has expanded its sport utility vehicle (SUV) range with the introduction of the all-new Mufasa and Grand Creta, offering Nigerian motorists more choices in styling, performance, technology and passenger comfort.

The two models, unveiled in Lagos on Wednesday, are targeted at different customer segments, with the Mufasa designed for motorists seeking a stylish, five-seater SUV, while the Grand Creta offers a three-row, seven-seater configuration suited to larger families and customers requiring additional passenger space.

The launch underscores Hyundai’s efforts to strengthen its presence in Nigeria’s competitive automotive market, where demand for versatile vehicles that combine comfort, safety, performance and practicality continues to shape consumer preferences.

Speaking at the launch, Hyundai Motors Nigeria’s General Manager, Sales and Marketing, Mr Gaurav Vashisht, said the new models reflected the company’s commitment to providing vehicles that meet the changing needs of Nigerian customers.

“The SUV segment continues to attract strong interest in Nigeria, as customers increasingly prioritise comfort, safety, technology and versatility,” Vashisht said.

He also gave a rundown of the two new vehicles’ features even as he stated that the Mufasa and Grand Creta were designed to meet different lifestyle requirements while maintaining Hyundai’s global standards of quality and innovation.

 

Mufasa targets style-conscious motorists

The Hyundai Mufasa combines bold exterior styling with a spacious cabin and features designed for everyday driving. Its distinctive front grille, signature LED lighting and muscular bodywork give it a commanding road presence.

Power comes from a 2.0-litre Smartstream multipoint fuel injection (MPi) petrol engine paired with a six-speed automatic transmission. Depending on the market specification, the engine produces approximately 150–160 horsepower and 193Nm of torque.

The five-seater SUV measures about 4,475mm in length, with a 2,680mm wheelbase, providing room for passengers and luggage while retaining a practical footprint for urban driving and longer journeys.

Its cabin features a modern dashboard, digital displays and storage spaces, while available equipment, depending on the variant, includes touchscreen infotainment, smartphone connectivity, automatic climate control, wireless charging and selectable driving modes.

Safety and driver-support features include anti-lock braking, electronic stability control, airbags and parking assistance, subject to the vehicle specification.

The Mufasa is positioned as an option for professionals, younger motorists and families seeking a combination of contemporary design, technology and everyday usability.

 

Grand Creta offers seven-seat flexibility

The Grand Creta complements the Mufasa with a larger cabin and seating for up to seven occupants, making it suitable for families and motorists who prioritise passenger capacity and interior flexibility.

The SUV is powered by an available 2.0-litre Smartstream petrol engine producing approximately 159 horsepower and 191Nm of torque. A six-speed automatic transmission is offered on automatic variant.

Its 2,760mm wheelbase supports a spacious three-row layout, while the flexible seating arrangement allows occupants to adjust the cabin to accommodate passengers or luggage.

Depending on the trim, convenience features include an eight-inch touchscreen infotainment system with smartphone connectivity, rear air-conditioning vents, keyless entry, push-button start and a digital instrument cluster.

Higher-specification versions may also feature leather-appointed seats, ventilated front seats, automatic climate control, wireless charging and a panoramic sunroof.

Safety equipment offered across the range includes six airbags, anti-lock braking, electronic stability control, hill-start assist, rear parking sensors, a rear-view camera and ISOFIX child-seat mounting points.

The model is aimed particularly at larger families seeking additional space and comfort without sacrificing the styling and versatility associated with SUVs.

 

After-sales support in focus

Beyond the new models, Hyundai Motors Nigeria says it is focused on delivering a comprehensive ownership experience through its authorised dealership network, after-sales services and access to genuine spare parts.

Vashisht said the Mufasa would appeal to customers seeking bold styling, modern technology and dynamic performance, while the Grand Creta would cater to those requiring greater passenger capacity, comfort and versatility.

“Our objective is not simply to introduce new vehicles but to deliver a complete ownership experience,” he said, reaffirming the company’s commitment to building long-term customer confidence in the Hyundai brand.

The two additions expand Hyundai’s existing SUV portfolio, which includes the Creta, Tucson, Santa Fe and Palisade.

Their introduction comes as automakers compete to attract Nigerian buyers with vehicles offering a balance of comfort, safety, technology, performance and long-term ownership value.

With the Mufasa and Grand Creta, Hyundai is seeking to broaden its appeal across different customer categories while strengthening its position in Nigeria’s increasingly competitive SUV market.

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Happening now: Hyundai unveiling of Mufasa and Grand Creta

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Happening now: Hyundai unveiling of Mufasa and Grand Creta (photos)

Two latest models of Hyundai auto brands are currently being officially rolled out in Lagos. The new vehicles are Mufasa and Grand Creta.

The unveiling is taking place at the Hyundai showroom on Akin Adesola Street Victoria Island, Lagos.

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No 5% Petrol Tax Plan, Oyedele Says, Amid Public Concerns

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No 5% Petrol Tax Plan, Oyedele Says, Amid Public Concerns

 

The Federal Government has no plan to introduce a new tax on petrol, Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said, dismissing reports that the administration of President Bola Tinubu intends to impose a five per cent levy on petroleum products.

Oyedele clarified the issue in a statement posted on his X account on Tuesday, insisting that a fuel tax was not being considered by the government.

“In my interview with ARISE News, I was clear: a fuel tax is not on the table,” he said.

His statement follows reports linking him to the proposed five per cent tax, which sparked concerns about a possible increase in the cost of petrol amid Nigeria’s persistent cost-of-living crisis.

Petrol prices have remained a major driver of transportation and distribution costs since the removal of the fuel subsidy, contributing to higher prices of food and other essential goods and services.

The prospect of an additional levy had raised fears that households and businesses could face further financial pressure.

However, Oyedele’s clarification indicates that the Federal Government is not currently considering the proposed fuel tax, amid broader efforts to reform Nigeria’s tax system and strengthen public finances.

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