Tag Archives: uba

FG Probes Theft In $1.1 Billion Oil Well (the Tony Elumelu’s connection)

The largest oil and gas field financing transaction of about $1.1bn – Oil Mining License 17, owned by billionaire business tycoon, Tony Elumelu, is currently under investigation following the uncovering of an illegal oil bunkering facility connected to it, Society Reporters has learnt.

We gathered that the investigation was necessitated after the Nigeria Security and Civil Defence Corps on Thursday, uncovered an illegal local refinery at Otamiri-Etche, Etche Local Government Area of Rivers State.

The illegal refinery, we gathered, steals crude from OML17 fields operated by Heirs Holding Oil and Gas Limited.

In 2021, Heirs Holdings acquired 45 per cent of OML 17 from Shell Total and Eni. At the point of acquisition, the field located at the north Port Harcourt, produced just 27, 000 barrels per day, however, production rose to 40, 000 barrels per day seven months after acquisition.

We gathered that the NSCDC was able to burst the oil bunkering gang following intelligence reports from local informants.

The perpetrators were said to have tapped into Heir Holding Oil and Gas facility through the pipeline bulk delivery and stole crude oil through carefully constructed pipes to their illegal local refinery.

Further findings revealed that some insider involvement connected to the bunkering had been uncovered, and the NSCDC is currently interrogating workers both inside and outside the facility with the full support of Elumelu himself.

Sources close to the matter told us that Elumelu was disturbed by the report, as the menace had been ongoing for years, even before the field was acquired by Heirs Holdings.

“Suspected persons workings in the facility, locals, including the owner of the land being used for the illegal activities have been picked up for questioning”, sources who claimed anonymity due to the sensitivity of the matter told us.

The NSCDC Commandant in Rivers State, Michael Besong Ogar, confirmed the development.

He said it was the first time of witnessing a new strategy of operations by illegal oil thieves in the country.

We also gathered that sponsors of the illegal refinery are currently being investigated and would be charged to court.

“I must confess that this is the first time of witnessing a well fabricated illegal refinery with such a wide range of pipes laid across the area, as you can see how big the land is, you can also imagine how unscrupulous people can be despite the continuous fight against illegal dealings in petroleum products.

“We have commenced intense investigation into the matter, and we will unravel the mystery behind this economic sabotage.

“The NSCDC has a clear statutory mandate to safeguard critical national assets and Infrastructures across the federation, we will not be deterred or distracted by the activities of oil thieves in the State. Without compromise we will go after them and ensure that the illegal dealings in petroleum products are reduced drastically in order to boost the nation’s economy again”, he said.

OML 17 contains fields such as Agbada, Obigbo, Obigbo North, as well as Otamini and Umuchem. It also hosts facilities that can output 150, 000 barrels per day. Gas production on the field is less than 50 million standard cubic feet per day, with estimated 2P reserves of 1.2 billion barrels of oil.

Customer Alleges UBA Of N2M Online Fraud, Petitions CBN

The United Bank of Africa under the control of Kennedy Uzoka is being called out for causing severe pains to the lives of many of their customers.

A customer of the bank,  Olori Adenike Babalola Okekporo, became a victim of online fraud on Tuesday May 24, as her account with the bank got emptied of N2 million naira.

Efforts to get the bank to return the money since the lapse happened from their end and she didn’t make the withdrawals, has proved abortive which prompted Okekporo to publicly voice out her frustration.

According to the lady, most of the money was fraudulently withdrawn while she was on a telephone call with the bank’s customer service.

“Finally @UBAGroup has aided fraudstars and hackers to empty my account. 2 million naira gone within minutes while I was on call with their call center reporting suspicious activity on my account. @cenbank (Central Bank of Nigeria) tell @UBAGroup to refund my money.

“Immediately I received the first N500,000 alert, I called the bank immediately. While the customer care was still asking me stupid questions, the second alert of another N500,000 entered and another and another.

“These people messed with me psychologically. N2.1m naira just disappeared from my account. UBA you will kill me first. I can’t remember the last time I cried like this. I feel so helpless,” she lamented.

“I don’t have an ATM card for the said account so UBA, explain to me why you refused to transfer my funds since February that I wrote to you.

“How were they able to withdraw above the daily limit, how?” she wondered.

Besides the 2 million naira, Okekporo claimed that the bank had earlier refused to release the money her university, which she didn’t name, refunded her.

“Just because I was begging @UBAGroup and @UBACares to release the money my university gave me. @cenbank tell @UBAGroup to refund my money. Nigerians help me.

“Every student in the UK and @cenbank should help me beg @UBAGroup to give me my £1050 my university refunded since November 2021. Presently, I’m stranded and I need to pay my house rent. I don’t have any other money.

“@cenbank should please help me on this issue. My landlord in the UK gave me 8 days to pay my rent.

“When you see me under duvet on the street, homeless, just know that UBA Group and Central Bank of Nigeria did that to me because my landlord will not hear stories.

“And @UBACares have stopped responding to my email. My £1050 has been in that bank since 2021. And I has requested for it to be transferred since February 2022.’m yet to receive it.

“I made my transfer request since 23rd of February 2022. After filling series of forms, I was made to do video verification on WhatsApp on the 4th of April. The officer said my issue would be sorted within 48hrs.

“Last Thursday, I recharged my Nigerian line so I could call their customer care because the same CFC has refused to respond to my email, yet I have not received my money. Today is 21 May 2022. I did video verification on the 4th of April.

“It was while I was on call with them that this fraud was committed.”

Below is a screen shot of the debit of N2 million


The bank having been called out on social media, reached out to Okekporo.

“Hello @OloriAdenike13, thank you for contacting UBA, Africa’s Global Bank. Kindly provide your mobile number, account number, email address and date of the disputed transaction to enable us assist. We regret any inconvenience this may cause. Thank you.”

The account was eventually frozen and her debit card blocked by the bank after the fraudulent transactions, to safe guard the account.

Although she had earlier stated that she doesn’t have a debit card for that account, the bank however informed her of the need to request a new debt card at the cost of N1,075.



Additional Report; Streetjournalmagazine

Tony Elumelu Goes Skiing

The Chairman of Heirs Holdings, Tony Elumelu must have discovered a new passion in 2019 outside banking.
The former Managing Director of the United Bank of Africa took a new interest on new year as he went skiing , not minding the dangers attached to the sport.
The banker was not alone on this mission, he had his wife, Awele and children Ogor, Onyinye, Nneka, Ugo and Oge who obviously enjoyed their first skiing at the Saint Moritz, Graubunden, Switzerland.
Elumelu has marked 2019 a busy year as he starts an early vacation before settling down to work. His Tony Elumelu Foundation recently announced the opening of its fifth edition entrepreneurship programme, a 10-year, $100 million dollars commitment aimed at identifying, training, mentoring and funding 10,000 African entrepreneurs.


After an evening of inspiration and glitz, the Governor of Lagos State,
Babatunde Raji Fashola, hosted the winners, hosts and
organisers of Africa’s biggest youth event, The Future Awards Africa.

The event held a day after the awards, on Monday 8 December, 2014 at the
State House, Alausa, Lagos.