16 November 2012

Nigeria: Unity Bank Invests N1.5 Billion in Housing

Lagos — Unity Bank Managing Director Ado Wanka has said the bank has invested about N1.5 billion in housing project in Lagos State alone.

The project is located at the Lekki axis of Lagos.

When completed, the project will help in the drive by the state government to provide housing for those living in the metropolis.

Wanka who made this disclosure at the bank's special day held at the just concluded Lagos International Trade Fair, stated that it financed the purchase of 100 42-seater BRT buses at a cost of 6,330 million US dollars.

This is to augment the state government's effort in tackling the problem of transportation in the city, he said.

He said the bank is one of the 50 most capitalised companies in Nigeria and the first financial institution in the country to implement 'Oracle 11g on banks application software'.

"We all know that transportation in Lagos poses a major challenge. To alleviate this situation, Unity Bank financed the purchase of 100 42-seater BRT buses by HFZ Transport services, at a cost of 6,330 million US dollars. In addition to this, Unity Bank also co-financed our customers POD of Diamond's 50 Nissan Sunny cabs to also ease transportation in Lagos.

"We are also involved in the area of providing affordable homes for the people in Lagos.

"Unity Bank is currently financing 112 housing units comprising 84 units of 4 bedrooms and 28 units of 3 bedroom apartments in Lekki area of Lagos, this project is worth N1.5 billion," he added.

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