CHAPTER ONE
INTRODUCTION
1.1 GENERAL BACKGROUND OF THE STUDY
The United bank for African plc has it’s antecedents rooted in that of its processor. British and French bank limited. The British and French bank Limited itself, metamorphosed from Banque National Pource commerce et al industries of paris (establish in 1952) Massrs E.G. Humgerbulher and C.H. Baker arrived in Nigeria in the early 1949 from BNCL, Paris. But men made the British and French bank, Mr. Hungenblulen le shortly aer the bank was established while Mr. Baker stayed back for few years as aim oicer. Another big influences are the establishment of the bank was Mr. Herte Wroche. He was the head of the international division at BNCI and contributed immensely to the rapid growth of the new bank. In May, 1949, the British and French Bank began, operation in Nigeria, at 117, broad Lagos, which today house apart of the kin’s way stocks complete. The bank occupied a floor of the building at the function of Danies and Broad street, the Bank official opened to business in December 1949 with a staff strength of about 12. The bank when public under French man who was seconded from BNCI Paris in 1960 in accordance with the policy and intention of the French owns of the bank to sell of some of its shares to Nigerians. On February 23 196, the United Bank for Africa Plc was incorporated to takeover the asset and liabilities of the British and French bank. The official opening of the bank for business under the new name was on October 3rd 1961. Its registered office was at 129129 broad street, Lagos with it establishment UBA became the first Bank among the international banks operating in Nigeria at the to be registered under the Nigerian law.