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Unity Bank Restates Position On Milost’s $1bn Investment

Unity Bank Plc’s management has reiterated the bank’s position that it had not received $1 billion investment from Milost Global Inc.

According to the bank, the clarification became imperative in view of trending rumours in some sections of the media pertaining to Milost’s interest to invest in the bank.

The management pointed out that the bank was totally committed to ensuring that the recapitalization programme is transparently conducted and urged stakeholders in the investment community not to be swayed by the misinformation on the planned deal.

It stated that in line with the mandate of its shareholders to engage potential investors to recapitalize the financial institution, the bank was talking to a number of investors and would update the public at the appropriate time.

The bank stated: “We won’t jump the gun. We are operating in a regulated environment and no single investor can pressure it into taking wrong steps.”

The bank had, in the wake of spurious media reports on the $1bn investment, advised the public to clarify any doubtful information on the deal with the management.

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