- – Commodities or securities market
- – Transactions are cash based and delivered immediately
- – 2 days delivery date
- – Contracts usually immediately effective
- – Transaction done on the spot
- – Delivery in 48 hours (sometimes up to 7 days)
- – Sale/purchase against base currency
- – Exchange currency referred to as counter currency
- – Short term financing needs
- – Simple product
- – Known cost
- – Agreed value date
- – Good credit rating with bank
- – Pre-determined credit limit
- NA (consummated on trading platform or over the phone)
Frequently Asked Questions
- UBA’s financial year-end was originally March of each year. After the merger of UBA and STB, with effect from 1 August 2005, the bank’s financial year-end was changed to September. However, with the CBN policy on uniform year end, the reporting period is now December. In addition, UBA reports interim results of the group every three months to the Nigerian Stock Exchange and to shareholders in the Nigerian Press within 15 days after the expiration of the reporting period.
Yes you can. Kindly contact our registrars, Africa Prudential Registrars Limited to set this up. Please see their contact details below:
Business Development and Relationship
Africa Prudential Registrars Limited
220B, Ikorodu Road, Palmgrove
The merger between United Bank For Africa Plc and Standard Trust Bank Plc came into effect on 1 August 2005.
The current tax legislation requires that a withholding tax of 10% be deducted at source from all dividend payments.