TUC explains majority stake in Unity Bank

 The Trade Union Congress of Nigeria (TUC) has successfully acquired majority stake in Uity Bank Plc.

  Under the arrangement, the Congress will within the next three years invest a total of N80 billion in the bank to acquire 57 percent equity holding.

 According to the President of TUC, Bobboi Kagaima, this is one of the many portfolios the congress is taking in its drive to cut into some critical sectors of the nation’s economy, using “The $ 1 billion TUC Economy” as the vehicle.

 Briefing members at the just concluded National Delegate Conference (NDC) of the Association of Senior Civil Servants of Nigeria (ASCSN), Kaigama explained that banking industry is strategic to the development of the nation’s economy.

 He urged members of TUC to invest at least N50,000 and  become individual shareholder of the financial institution.

 Explaining further, Kaigama said: “Those of you who attended the recent TUC National Delegates’ Conference in Abuja have heard the giant stride made by the Congress in acquiring majority share holding in Unity Bank”.

He added: “As you are no doubt aware, the banking industry is strategic to the development of the economy. And by acquiring majority share holding in Unity Bank, the TUC has become an important player in the financial sector of the economy.

“It is against this background that I urge you all to key into this lofty project that will shortly become the bulwark of financial succour to all TUC affiliates and their members.

“In this connection, I wish to enjoin you to become an individual shareholder in the Bank by investing a minimum of ₦50,000 through share purchase. It is my hope that you will all participate actively in the purchase of the Unity Bank shares. The time to act is now”.