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Black Thursday

Rostrum The ancient narrow pathway had become so bad that they could not find their way to their destination as the three moved in a grey Honda Sport Utility Vehicle (SUV) being piloted by Dayo who was very mindful of the steering. It was on a Thursday. The 35-year-old Misters Dayo, Emeka and Okon were old time friends who reunited just a few days ago at Nsukka in Enugu State having lost contacts about eight years back, or thereabouts, after their graduation from one of the reputable higher citadels of learning in Nigeria situated in the Eastern part of the country, precisely University of Nigeria Nsukka popularly known by its acronym ‘U.N.N’. What occasioned the long-awaited reunion was the convention of their alma-mater’s alumni body themed ‘The homecoming of UNN Alumni’, which usually held once in a blue moon. Though they never studied in the same department, they were conspicuously best of friends during their school days that people within bega...

"African Banks have power to multiply Impact" - Elumelu

RostrumNews
The outstanding Nigerian entrepreneur and philanthropist, Tony Elumelu, has opined that the financial institutions on the African continent had the power to multiply impact.

Elumelu who disclosed this on his X handle on October 21, 2025, stated that the banks in the said region possessed the ability to turn every dollar of domestic capital into many more through international co-investment.

Elumelu, who is the Chairman of the UBA GROUP, enthused that the group had proven that the above remark is not just theory, but practically achievable.

"Our $400M financing for Tanzania’s Julius Nyerere hydropower project — fully led by African institutions — is proof." The financial guru stated.

It could be recalled that in 2020, Rostrum News reported that the United Bank for Africa (UBA) Tanzania Limited once again extended its support to Julius Nyerere Hydropower Project after providing another $40 million in project financing, bringing its total commitments to over $400 million.

In the previous year alone, being 2019, the UBA provided $366 million financial support to the 2,115MW Julius Nyerere Hydropower Project.

As a further demonstration of its fervent support for the project, UBA Tanzania launched an ultra-modern business office at the project site.

Commenting on the new office, the Managing Director of the Bank, Kingsley Ulinfun disclosed that in line with the UBA customer first philosophy, this was another step the UBA Tanzania had taken in its branch expansion programme.