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Bank spents N1.2bln on Lagos State BRT buses

Lagos – Unity Bank Plc says it has so far spent about N1.2 billion for the purchase of Lagos State mass transit buses tagged: BRT buses.

The bank’s Managing Director, Mr Ado Wanka, disclosed this during the Unity Bank Day at the ongoing 2011 Lagos International Trade fair on Friday in Lagos.

Wanka said that out of the amount, N215 million was spent to clear the buses from the port, register; kit and built parking spaces for the buses.

He said that the bank went into the venture because of the peculiar challenges of transportation in Lagos.

According to him, simply put, movement in Lagos can be tricky.

“That is why Unity Bank financed the purchase of 100 42-seater buses from HFZ Transport Services at a cost of $6.3 million.

“Moreover, to ensure port clearance, proper vehicle registration, kitting and provision of parking spaces for the buses, we also provided a further financial outlay of N215 million.

“In this way, we are participating in the steps taken by the administration of Governor Babatunde Fashola to reshape Lagos into a model city of the 21st century,” he said.

Wanka said that the bank would continue to partner with the government to transform Lagos positively.

According to him, the bank also take part in the collection of the state’s Internally Generated Revenue.

He said that the bank had 36 branches in Lagos and 18 in Kaduna and had the latest information technology infrastructure.

According to Wanda, this underscores the importance which the bank attaches to Lagos State.

He said the bank was the first to implement the Oracle 11g on Banks’ Application Software.

The managing director said that the bank’s latest products included Unity BetA, Unity PAYS, and Unity Holy Trip.

“The Unity BetA, empowers small business and entrepreneurs to grow their businesses while Unity PAYS, provides customers the opportunity to buy valuable assets like generator sets and machines.

“The Unity Holy Trip provides the opportunity for a customer to save for pilgrimages and provides 50 per cent credit facility, among others,” Wanda said.

Mr Femi Deru, the President of Lagos Chamber of Commerce and Industry (LCCI) commended the bank for having over 5, 000 people in its employment.

He said this made the bank, one of the biggest employer of labour, adding that the bank should work hard to be the highest capitalised bank by 2016.


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