The Lion King | 11
Milestones
completed to date in Central Africa,
solely funded by regional African banks
and for an indigenous company.
$1 billion MOU- Total Upstream
UBA signed a Memorandum of
Understanding (MOU) with Total
upstream in collaboration with seven
other Nigerian banks. The objective
of the collaboration is to strengthen
indigenous capacity in the oil and gas
industry. UBA and the other banks
involved in the scheme are providing
funding for Total's local contractors
for the execution of the compa-
ny's projects. The funding scheme is
estimated at more than US$1billion
dollars.
$1 billion- NLNG
UBA Plc signed another MOU with
Nigerian Liquefied Natural Gas (NLNG)
to finance local contractors and
vendors of the company. The MOU,
signed in conjunction with four other
banks, is expected to help NLNG’s local
contractors and vendors have access
to $1 billion in credits from the five banks
to speed up delivery of contracts to the
company.
MANUFACTURING
UNICEM’s $680 Million Deal
UBA was a lead participant in a syndi-
cated $680M loan deal with United
Cement Company of Nigeria (UNICEM).
The loan deal will help the company
expand its cement production, by
adding an additional production line.
UBA Plc is contributing a total of $130m
of the syndicated facility packaged by
a consortium of banks.
Did you know?
UBA’s Board
Chairman,
Ambas-
sador Joe Keshi, is a
former Consul-General
of Nigeria to the United
States of America
UBA Plc was listed
on
the Nigerian Stock Exchange
(NSE) in 1970, and subse-
quently became the first
Nigerian bank to undertake
an Initial Public Offering (IPO)
The merger
between
legacy United
Bank of Africa (UBA) Plc
and Standard Trust Bank
(STB) on 1 August, 2005,
was one of the biggest
mergers in the history of the
Nigerian capital market
and created one of the
largest financial institutions
in Africa
UBA in 2006
became
the first ever
Nigerian Bank to surpass the
N1 trillion balance sheet size
(including contingents)
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