UBA's Alawuba Advocates for Economic Gains in Nigeria

Oliver Alawuba, the Group Managing Director of United Bank for Africa (UBA) and Chairman of the Body of Bank CEOs in Nigeria, addressed the 19th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja on September 8, 2026. He noted that improving economic indicators suggest Nigeria is progressing towards macroeconomic stability, but these improvements must lead to job creation, higher incomes, lower living costs, and affordable credit.

Alawuba praised the Federal Government and the Central Bank of Nigeria for effective coordination between fiscal and monetary policies, highlighting that recent improvements in key economic indicators are significant milestones. He described banks as “financial shock absorbers and growth partners,” referencing the N4.65 trillion mobilized by 33 banks during a recent recapitalization exercise.

Alawuba also pointed out the necessity of investments in digital infrastructure, cybersecurity, and operational resilience, with over N119 billion invested by four leading banks in the first quarter of 2026, marking a 43.2 percent year-on-year increase.