UBA CEO reaffirms commitment to corporate governance, compliance
The Group Chief Executive Officer (CEO) of United Bank for Africa (UBA), Oliver Alawuba, has reaffirmed the bank’s commitment to the highest standards of corporate governance, transparency, and regulatory compliance across all its operating markets.
Speaking in an interview in Washington, D.C., during the launch of UBA’s White Paper titled “Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth”, Mr Alawuba stressed that UBA’s operational philosophy is anchored on strict adherence to both local and international regulatory frameworks.
His assurance comes after the Bank of Ghana announced on October 17, 2025, that it had lifted the one-month suspension of UBA Ghana Limited’s Foreign Exchange Trading License, effective October 19, 2025.
Demonstrating Compliance across Markets
Mr Alawuba emphasised that compliance is not merely a requirement but a core value within UBA’s corporate culture.
“UBA is one of the few African banks with a presence in one of the most regulated markets in the world, the United States. That alone should convince our clients everywhere, including Ghana, of our commitment to compliance and sound governance,” he said.
He noted: “The US has one of the highest levels of regulation, and UBA remains fully compliant. This reflects the standards we uphold across all our subsidiaries.”
The Group CEO reiterated that UBA remains focused on professionalism, resilience, and financial strength, positioning the bank as a leading pan-African institution that prioritises trust and operational excellence.
Background to License Suspension
On September 4, 2025, the Bank of Ghana announced the suspension of UBA Ghana’s forex trading license for one month, effective September 18, citing breaches of the Updated Guidelines for Inward Remittance Services by Payment Service Providers, 2023, as amended by Notice No BG/GOV/SEC/2025/25.
Following corrective actions and full compliance with remedial measures, the Central Bank lifted the suspension.
Future Outlook in Ghana
Mr Alawuba disclosed that UBA plans to deepen its footprint in Ghana by expanding digital financial services and supporting small and medium-sized enterprises.
“We want to play a leading role in financial service delivery and connect Ghanaian businesses to global markets,” he emphasised.
