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Official: UBA Capital Changes It’s Name To United Capital Plc

  • Shareholders of UBA Capital Plc yesterday  changed the name of the company to United Capital Plc at an extra-ordinary general meeting (EGM) in Lagos. They also  auhorised to directors to halt the  expansion of company across Africa.
  • UBA Capital, was formerly a subsidiary of UBA Plc and became a separate company following the Central Bank of Nigeria (CBN)’s directive that all banks should divest from non-commercial banking activities.  UBA Plc in compliance with that directive transferred its 100 per cent holding in UBA Capital to the shareholders of the bank.
  • UBA Capital was then listed on the Nigerian Stock Exchange (NSE) January 2013 as a separate and independent company that   has five operating and unique businesses focused on investment banking, asset management, securities, trusteeship and life insurance.
  • However, as part of strategies to consolidate its independence and reflect its separate identity from UBA, the board of directors of the company requested that its name be changed.
  • Consequently, shareholders of   the company voted in support of resolution and the name    has been changed to United Capital Plc.
  • The shareholders also passed a resolution that on the recommendation of the directors  that in view of the health concerns in some parts of Africa and subject to obtaining the requisite approvals and amendments by the Securities and Exchange Commission (SEC) and other regulators, the board of directors be  authorised to discontinue  with business expansion across Africa as approved in the Rights Issue circular of 2013.
  • They approved that the funds be transfer N402 million of proceeds from a rights offer meant for the expansion into  the Nigerian infrastructure projects and working capital instead.

Culled from Nairametrics

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JOSEPH ONYEMA

Head, Group Enterprise Performance Management
Joseph Onyema
Joseph is the Head, Group Enterprise Performance Management at United Capital Plc.
Over the last 16 years, Joseph has worked with and led teams whose responsibilities cut across a major spectrum of technology transformational and retail growth projects and consultancy. Joining the group in 2017, Joseph started out leading the technology team for 5+ years in the position of the Group, Chief Information Officer, a role in which his focus on execution to reposition the business was exemplary, hence leading to increased digital presence, retail growth and improved revenues, with keen focus on our growth during the COVID-19 pandemic where the business was run totally virtual and saw outstanding growth in customers, revenue and profitability.​
Leveraging on his education, performance, experience and spirit of execution, Joseph transitioned to the Group Head, Enterprise Performance Management, where he brings his analytical and technological prowess coupled with his background in managing teams and businesses to bare in monitoring and tracking business units and employees performances, while helping them to improve in their performance and ensuring the group continues to win in all its endeavours.
Before joining United Capital, Joseph headed the Group Technology Operations at Cordros Capital Limited where he transitioned the business from a High Net-worth Individual (HNI) focused business to retail-focused business with total leverage on technology to drive B2C sales across verticals while exploring new markets and partnerships. Prior to Cordros Capital, he had led the Enterprise & Cloud Services team at Soft Solutions Limited, an IT Consultancy firm with a footprint across 15 Nigerian banks on enterprise security, cloud projects, and consultancy where he developed, deployed, and led support teams to manage several financial and FMCG application suites.
A Tony Elumelu entrepreneur from 2016 before joining the group, and a member of the prestigious Beta Gamma Sigma international business honor society, continues to reinvent himself and deliver exceptionally to the United Capital family.