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Business News of Sunday, 22 March 2020

Source: MyNigeria

UBA postpones 58th AGM over coronavirus scare

Chairman of United Bank of Africa, UBA Chairman of United Bank of Africa, UBA

The Board of Directors of United Bank for Africa Plc has canceled its 58th Annual General Meeting dated March 2, 2020.

According to a notice by the bank to the Nigerian Stock Exchange, its 58th Annual General Meeting which was previously scheduled to be held on Friday, March 27, 2020, at the Eko Hotels & Suites, Victoria Island, had been postponed.

The lender didn't state the definite date to which it had been re-scheduled for, but it promised to do so in due course.

Explaining the reason for the postponement of its AGM, the lender said it was hinged on part of UBA's measures, as a good corporate citizen, to avoid the spread of the coronavirus.

The bank assured its customers it was there for them in these trying times and beyond.

"In this trying and uncertain period, the Board of United Bank for Africa Plc would like to assure all our customers, shareholders and other stakeholders that we are here for you throughout the crisis and beyond," the statement read in part.