Unity Bank Refutes Planned Investment by Milost

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Unity Bank Plc on Tuesday advised members of the public to disregard a media report that Milost Global Incorporated was considering injecting as much as $1billion to recapitalise the commercial bank.

The bank stressed that it had not reached any agreement with Milost to warrant such speculation.

A statement from the bank which was signed by its Head, Corporate Communications, Mr. Matthew Obiazikwor said: “We categorically dismiss media claims of any such deal and advise that the public disregard any information to the contrary”.

The bank further pointed out that regarding its on-going recapitalisation programme that it had “not received commitment for investment of USD1bn from Milost.”

“Unity Bank is in talks with a number of potential investors and has not concluded to pave way for commitment of an investment. The bank has set realistic milestones on the recapitalisation program and will update the public on the progress from time to time,” the statement added.

Source: THIS DAY.

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