{"id":751,"date":"2026-02-16T14:45:54","date_gmt":"2026-02-16T14:45:54","guid":{"rendered":"https:\/\/facthubafrica.com\/?p=751"},"modified":"2026-02-16T14:45:54","modified_gmt":"2026-02-16T14:45:54","slug":"man-closes-uba-accounts-after-tony-elumelus-endorsement-of-tinubus-reforms","status":"publish","type":"post","link":"https:\/\/facthubafrica.com\/index.php\/2026\/02\/16\/man-closes-uba-accounts-after-tony-elumelus-endorsement-of-tinubus-reforms\/","title":{"rendered":"Man Closes UBA Accounts After Tony Elumelu\u2019s Endorsement of Tinubu\u2019s Reforms"},"content":{"rendered":"

A Nigerian-born health communication specialist, Ugochukwu Madu, has reportedly closed all his accounts with United Bank for Africa (UBA) following public comments by the bank\u2019s chairman, Tony Elumelu, endorsing the economic reforms of President Bola Ahmed Tinubu.<\/span><\/h3>\n

Madu announced his decision shortly after Elumelu spoke to journalists following a private meeting with the President at the Presidential Villa in Abuja.<\/p>\n

During the briefing, Elumelu described the administration\u2019s ongoing reforms as necessary steps toward stabilising Nigeria\u2019s economy and promoting business growth.<\/p>\n

He said discussions with the President centred on strengthening small and medium-scale enterprises (SMEs), reforming the tax structure, and addressing persistent challenges in the power sector.<\/p>\n

The UBA chairman emphasised that SMEs remain central to economic growth, job creation, and innovation.<\/p>\n

He noted that targeted tax adjustments and financial support were being considered to ease pressure on entrepreneurs and encourage expansion.<\/p>\n

\u201cI love to sit with Tinubu and discuss economic issues, give feedback from what we think is happening in the economy, and then constructively agree. I\u2019m a member of the Presidential Economic Council, to just rub minds,\u201d Elumelu stated.<\/p>\n

Reacting to the endorsement, Madu disclosed that he and his wife recently closed two domiciliary (foreign currency) accounts they maintained with UBA.<\/p>\n

According to him, during a recent visit to Nigeria, they withdrew all funds and formally shut down both accounts.<\/p>\n

While acknowledging that individuals are free to support any political party or candidate of their choice, Madu said he prefers not to patronise institutions whose leadership openly backs political figures he does not support.<\/p>\n

\u201cYou\u2019re free to join or endorse any party but once you endorse a questionable candidate, I withdraw my affiliation,\u201d he said.<\/p>\n

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A Nigerian-born health communication specialist, Ugochukwu Madu, has reportedly closed all his accounts with United Bank for Africa<\/p>\n","protected":false},"author":3,"featured_media":752,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[2],"tags":[176,175],"class_list":["post-751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-tony-elumelu","tag-uba"],"aioseo_notices":[],"featured_image_urls":{"full":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/02\/IMG_20260216_153521.png",720,316,false],"thumbnail":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/02\/IMG_20260216_153521-300x300.png",300,300,true],"medium":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/02\/IMG_20260216_153521-300x132.png",300,132,true],"medium_large":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/02\/IMG_20260216_153521.png",640,281,false],"large":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/02\/IMG_20260216_153521.png",640,281,false],"1536x1536":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/02\/IMG_20260216_153521.png",720,316,false],"2048x2048":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/02\/IMG_20260216_153521.png",720,316,false],"morenews-large":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/02\/IMG_20260216_153521.png",720,316,false],"morenews-medium":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/02\/IMG_20260216_153521-590x316.png",590,316,true]},"author_info":{"info":["Publisher"]},"category_info":"News<\/a>","tag_info":"News","comment_count":"0","_links":{"self":[{"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/posts\/751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/comments?post=751"}],"version-history":[{"count":1,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/posts\/751\/revisions"}],"predecessor-version":[{"id":753,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/posts\/751\/revisions\/753"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/media\/752"}],"wp:attachment":[{"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/media?parent=751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/categories?post=751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/tags?post=751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}