Rivers State owns major stake in Unity Bank - Fagbohun

L-r Crispin Oduobuk, Lanre Fagbohun speaking and Halima Ya'u Ishaq

One of the outcomes of the recently merged banks due to restructuring of the Central Bank of Nigeria (CBN), the Unity Bank plc, has denied allegation of northern dominance.

The bank also said that its majority stake currently is owned by the Rivers State government with about 15 branches within that geo-zone.

The Executive Director, Lagos and West of Unity Bank plc, Mr. Lanre Fagbohun, who was accompanied by the duo of Head, Internal Communications & Brand Management, Mrs Halima Ya’u Ishaq and Unit Head, CSR, Digital Marketing and Events, Mr. Crispin Oduobuk, made these disclosures in an interactive session in Lagos, attended by DigitalSENSE Business News.

According to him, it is untrue and unfair report for anyone to say that the bank ownership is dominated by the northern states, adding that currently the whole of northern states have less than 10 per cent stake in the bank.

He reiterated that as a licensed national bank, Unity Bank plc is operating within its license purview, which is across the federation.

Further, he cited another instance, of its broad based operational location, by saying that in Lagos and West alone, there exist about 40 branches of the bank.

Fagbohun, therefore said, it will be unreasonable for anyone to describe the bank as a northern bank, even as its building up its technology infrastructure base in tandem with the CBN requirement to ensure active participation in the on-going cashless campaign, across the country.

Remmy Nweke

... Making SENSE of digital revolution!