TUESDAY 9TH JANUARY 2024

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UBA Surpasses N1tn Market Capitalisation on NGX, Share Price Hits N29.90 Emerges best performing banking stock in 2023

James Emejo in Abuja The United Bank for Africa (UBA) Plc yesterday, joined the elite group of companies with market capitalisa-

tion of over N1 trillion as its share price also hit N29.90 per share. At the close of trading yesterday, the bank’s market capitalisation hit N1.02 trillion, making it the third

most capitalised financial institution in the country - a remarkable boost from N283.8 billion at the beginning of 2023. The bank has 34.19 billion shares in issue.

The N1 trillion market capitalisation feat comes amid the bank’s share being named as the highest performing stock in the banking sector in 2023, which underscored

Elumelu hails feat

its robust growth trajectory and unwavering market confidence. Specifically, between the start of January 2023 and yesterday, the price of UBA shares had appreciated by

over 250 per cent from N7.60 per share, the bank noted in a statement. Commenting on the bank's imContinued on page 12

Tuesday 9 January, 2024 Vol 28. No 10499. Price: N400

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Obi: Tinubu’s Securitisation of N7.3tn Debt Owed CBN Illegal... Page 25

Court Orders EFCC to Pay Emefiele N100m for Unlawful Detention

Says former CBN boss cannot be re-arrested, detained without order of court Decries security agencies' acts of arrest before investigation Anti-graft agency appeals fine

Kingsley Nwezeh and Alex Enumah in Abuja

Justice Olukayode Adeniyi of the High Court of the Federal Capital Territory (FCT), yesterday, slammed

the sum of N100 million against the federal government and the Economic and Financial Crimes

Commission (EFCC) as fine for unlawfully detaining former Governor of the Central Bank

of Nigeria (CBN), Mr. Godwin Emefiele. But EFCC, yesterday, expressed

dissatisfaction with the judgement. Continued on page 12

Contagion as Tunji-Ojo Distances Self from Payments by Humanitarian Ministry

Edu suspended, Umar-Farouq detained Tinubu directs EFCC to thoroughly scan all financial transactions in ministry Charges Edun-led panel to carry out detailed financial architecture of social investment programmes Minister denied access to villa, pass seized Uzodimma: we can’t query president’s wisdom Ndume, others commend development Story on page 12

MINISTER OF TRADE AND INVESTMENT VISITS DANGOTE SUGAR...

L-R: Director General, Standard Organisation of Nigeria, Ifeanyi Okeke; Director Industrial Development, Federal Ministry of Industry, Trade and Investment, Bala Mohammed; Dangote Sugar Refinery Plc, Group Managing Director/CEO, Ravindra Singhvi; Honourable Minister, Federal Ministry of Industry, Trade and Investment, Dr. Doris Uzoka-Anite; Dangote Sugar Refinery Plc, Executive Director Operations, Mariya Aliko Dangote; Executive Secretary, National Sugar Development Council, Kamar Bakrin; and immediate past Chief Executive Officer, Federal Competition and Consumer Protection Commission, Babatunde Irukera, during the honourable minister's PHOTO: SUNDAY ADIGUN visit to Dangote Sugar Refinery Apapa Lagos as part of the rollout of the Strategic Roadmap of the Federal Ministry of Industry, Trade and Investment (FMITI), held in Lagos…yesterday


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