The Group Managing Director of Unity Bank PLC, Alh. Bello Falalu said over the weekend in Kaduna, that his bank has raised N17.7 billion via Right Issues, with a good portion of the money reserved for farmers and sundry businesses.

Falalu also added that the shareholders’ fund in the Bank has hit N 42 billion, making the bank one of the most capitalised in Nigeria.

Bello who made this known in his speech read by the Executive Group Deputy Managing Director of the Bank, Raslanudeen Muhammed at the 32nd Kaduna International Trade fair, called on those who are interested in accessing government intervention funds for agriculture to do so without delay.

“The recapitalisation has enhanced the bank’s capability to serve the people and their businesses better.
“Let me reaffirm that as long time partners of the Kaduna State Government, we will continue to support its programmes and the people towards economic growth and progress”, he said.

“As part of the Bank’s preparation to serve you better and to have enough resources to do so, our Bank recapitalised few months ago after raising more than N17.7 billion via Rights issues.

“This has enhanced Bank’s capacity to better support you and your businesses. As at today, Unity Bank is one of the 50 most capitalised companies in Nigeria. As at November last year, our Bank’s shareholders’ fund rose to N42 billion.

“The Agricultural Credit Support Scheme is available to all who are interested in accessing government intervention funds for agriculture.

“Our shareholders have also unanimously mandated the Board of our Bank to divest more than N6 billion worth of investment in its seven subsidiaries and three associated companies in compliance with CBN directive to all banks. “This will enable us to concentrate more in our primary area of competence and equally be able to provide you with even better service.” Bello said