Central Bank Approves Providus Banks' Takeover of Unity Bank To inject N700 billion into new entity as 20-year term loan
James Emejo in Abuja and Nume Ekeghe in Lagos
The Central Bank of Nigeria (CBN) yesterday announced it had granted approval for a pivotal financial
takeover of Unity Bank Plc by Providus Bank Limited with an asset ownership 80-20 percent (80
percent Providus, 20 percent Unity Bank). THISDAY gathered that the
financial accommodation included N700 billion to the new entity, structured as a 20-year term loan.
The loan will be priced at an Continued on page 9
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Obasanjo Laments Graft in Oil Sector, Says Nigeria’s Overreliance on Fossil Fuels Deadly Mistake Says 'we ignored agriculture which could have been centrepiece of our investment'
Emmanuel Addeh in Abuja Nigeria’s former President, Oluse-
gun Obasanjo, has argued that the country’s overreliance on crude oil for its economic survival remains
one of the deadliest mistakes made by its leaders. Speaking during an interview
with the Financial Times, Obasanjo said Nigeria’s economy would have been much better if it had not
relied on just crude oil production as its major source of revenue. “I believe we made a deadly
mistake by putting all our eggs in Continued on page 9
Military: We’ll Resist Attempt to Force Regime Change FG places protest sponsors in Diaspora on watchlist, freezes their local accounts Normalcy gradually returns to Kano as government relaxes curfew Sani: Protests sponsored, it’s about regime change, not hardship or bad governance
Chuks Okocha, Michael Olugbode, Onyebuchi Ezigbo, Ikechukwu Aleke in Abuja, Seriki Adinoyi in Jos, Wale Igbintade, Sunday Ehigiator in Lagos, Ahmad Sorondinki in Kano, Blessing Ibunge in Port Harcourt and Sylvester Idowu in Warri The Armed Forces of Nigeria, yesterday, described those, allegedly, calling for regime change under the guise of #EndBadGovernance protest as representing less than one per cent of the country's population. They expressed their resolve to resist such attempt. Speaking at a joint press conference of the service chiefs and other heads of security agencies at Defence Headquarters in Abuja, Chief of Defence Staff, General Christopher Musa, vowed that the military will defend the country's democracy with the last drop of their blood. Equally yesterday, the federal Continued on page 9
MOVING TO REVIVE COTTON/TEXTILE SECTOR...
L-R: Minister of Innovation, Science and Technology, Uche Geoffrey Nnaji; Governor Hope Uzodimma of Imo State; Governor Babajide Sanwo-Olu of Lagos State; and Vice PHOTO: GODWIN OMOIGUI President Kashim Shettima, during the International Advisory Cotton Committee meeting held at the Presidential Villa, Abuja …yesterday