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UBA Foundation Donates N500 Million to Lagos State Security Trust Fund (PHOTOS)—-UBA Foundation led by Tony Elumelu donated N500 million to the Lagos State Security Trust Fund and pledges support for the state’s effort at improving security.

Thecloudngr reports that a sum N500m cheque was presented to the Lagos State Governor, Babajide Sanwo-Olu, by the UBA Group Chairman, Tony Elumelu, who was accompanied by the bank’s Deputy Managing Director, Mr. Muyiwa Akinyemi, at the State House, Marina, Lagos on Sunday.

Speaking during the presentation, Elumelu reiterated the bank’s dedication to supporting initiatives that ensure the safety and prosperity of communities across Nigeria adding that “At UBA, we understand that security is critical for economic growth and societal well-being. Our donation to the Lagos State Security Trust Fund is a reflection of the bank’s belief in building safer communities to enhance the quality of life for all. We are proud to partner with the Lagos State Government to achieve this shared vision of a secure environment conducive to investment and development.”

While receiving the N500m cheque, the Lagos State Governor expressed appreciation to the UBA Group and  UBA Foundation for the significant contribution and commended Mr. Tony Elumelu for its unwavering commitment to impactful projects, state’s progress and well-being.

He said, “we are grateful to the UBA Group for their significant contribution to the Lagos State Security Trust Fund. This donation will strengthen our efforts to enhance security and protect our citizens. Together we are building a safer Lagos for all”

This latest gesture aligns with UBA Foundation’s Special Projects initiative, which focuses on addressing pressing societal issues through strategic partnerships and impactful interventions. Over the years, UBA Foundation has actively contributed to enhancing education, the environment, and economic empowerment and special projects such as these critical donations across Africa. The Foundation’s commitment to security as a driver of sustainable development is evident in its support for programs like the LSSTF.

Group Chairman, United Bank for Africa (UBA), emphasised the bank’s role as a leader in giving back to society. He explained that in pledging its support to the state’s efforts at improving security, UBA recognizes the vital link between safety and economic stability.

He said, “This partnership with the Lagos State Government reinforces the Bank’s belief in collaborative efforts as the key to addressing security challenges and creating environments where individuals and businesses can thrive. We believe that a secure Lagos State is integral to a secure Nigeria. UBA Foundation will continue to support transformative initiatives that uplift lives and drive development.”

UBA Foundation, the CSR arm of the UBA Group, is committed to the socio-economic betterment of the communities in which the bank operates, focusing on development in the areas of Education, the Environment, Economic Empowerment and other Special Projects.

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#ARSAVL: Watch Free Livestream Match Between Arsenal Vs Aston Villa Here

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#ARSAVL

#ARSAVL: Watch Free Livestream Match Between Arsenal Vs Aston Villa Here—-Thecloudngr reports that free Premier League match between Arsenal and Aston Villa has emerged.

Watch the livestream match below:

CLICK HERE TO WATCH

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How Sterling Bank Uses Tiered Salary Structure to Hold Down Staff Without Promotion

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Sterling Bank

How Sterling Bank Uses Tiered Salary Structure to Hold Down Staff Without Promotion—-Sterling Bank’s recent 7% salary increase which was announced earlier this month has been met with widespread criticism and disappointment among its employees, who feel undervalued, overworked, and underappreciated.

According to sources, the bank’s Executive Trainees (ETs) will receive a monthly raise of ₦24,000, from ₦327,000 to ₦351,000, while Senior Executives will receive a monthly raise of ₦27,000, from ₦500,000 to ₦527,000.

Employees have expressed frustration and disappointment with the raise, citing the bank’s failure to keep up with Nigeria’s soaring inflation rate.

The tired salary structure of the bank has sparked a crisis of morale and motivation among Sterling Bank’s staff, with employee engagement and productivity hitting an all-time low. This has significant implications for the bank’s business, as customer satisfaction is likely to suffer.

In contrast, other banks in the industry have taken a more aggressive approach to salary increases. Union Bank and GTBank raised salaries by 40% in late 2024, in a bid to retain top talent in an industry plagued by high employee turnover and poaching.

Research shows that competitive salaries are key to reducing employee attrition in Nigeria’s banking industry. Sterling Bank’s failure to deliver on this front may have far-reaching consequences for its business.

All attempt to get Sterling Bank’s management to respond as at press time proves abortive, but insiders say that the bank’s leadership is aware of the growing discontent among its employees.

As the situation continues to unfold, one thing is clear: Sterling Bank’s employees will not be silenced, and they will continue to demand a fair and living wage.

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