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N25bn Capital Base: Odua States to Rescue WEMA, National Bank From Ademola Adeyemo in Ibadan Governments of Oyo, Ogun, Ondo, Ekiti and Osun states have promised to inject funds into WEMA and National banks where they have substantial interests. Governor Rasheed Ladoja of Oyo State, who disclosed this over the weekend in Ibadan while addressing newsmen, declared that the banks would certainly meet the Central Bank of Nigeria (CBN) requirements and would not go into a merger with any bank. The governor, while giving the assurance, said Odua states which have majority shares in the banks would do everything possible to ensure that the banks emerge stronger with the new CBN policy. Said he: "One thing I can assure you is that none of these banks will fail to meet the recapitalisation target, we will ensure that WEMA and National Banks meet the N25 billion target before next year deadline. "Also in the case of Trans International Bank owned by Oyo and Osun states, we will meet on it and I can assure you that the bank will not fail, all I know is that the three banks will survive." According to him, "National Bank is very strong, it has a lot of assets which worth over N25 billion not only in Nigeria but also in abroad." "We are not considering merger at all, but how to support them to meet the target set by CBN, with the quality of governors we have in these states today, they are enterprising, they have business background," he stressed. He restated that as of today, WEMA Bank is not far from N25 billion capital base. And that National Bank has got a lot of assets to survive the new banking policy of CBN. Also, Ladoja while speaking on the resolution of the crisis that bedevilled the state chapter of Peoples Democratic Party (PDP), said the problem has been resolved. "There is no crisis again, the crisis has been resolved, there is no loser but all winners, the new peace we have now is without any conditions, there is general agreement that the governor is the leader of the party in the state," he maintained. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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