Unity Bank Clarifies Speculation on Investment of USD1bn from Milost Global Inc


Wednesday, March 21, 2018 /02:09 PM / NSE 

This is to formally notify shareholders of Unity Bank Plc and other stakeholders of the Bank that Contrary to media reports claiming that Milost Global Inc plans to invest USD1bn in Unity Bank Plc, the Bank hereby unequivocally states that it has not reached any agreement with Milost to warrant such speculation.

The Bank hereby makes further clarifications regarding its on-going recapitalization programs to the effect that Unity Bank has not received any commitment for Investment of USD1bn from Milost Global Inc.

Unity Bank Plc is in talks with a number of potential Investors and has not concluded an Investment transaction at the moment.

The Bank has set realistic milestones on the recapitalization program and will update its shareholders and other stakeholders in due course.

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