Posted by From Ademola Adeyemo in Ibadan on
The five owner state governors of Odua Investment company yesterday held a meeting with the managements of the National Bank and WEMA Bank with a view to facilitating a merger between the two banks.
The five owner state governors of Odua Investment company yesterday held a meeting with the managements of the National Bank and WEMA Bank with a view to facilitating a merger between the two banks.
Addressing newsmen in Ibadan at the end of their meeting with the management of Odua conglomerate led by its chairman, Chief Iyabo Apampa, Governor Gbenga Daniel of Ogun state said the need to merge the two banks became necessary so as to make them more virile and responsive to peoples needs.
At the meeting which was attended by the owner state governors including Governor Rashidi Ladoja who was the chief host, Olagunsoye Oyinlola of Osun state, Ayo Fayose of Ekiti, Daniel and the Ondo state governor who was representyed by his Deputy, Chief Omolade Oluwateru, they resolved that for National Bank to move forward, it has to merge with Wema Bank in response to the on going banking consolidation.
'We discussed about some of the Odua Companies especially the future of National Bank. We have considered it expedient to leave up to the game plan of the Odua companies about how to move forward the bank and once again, the governors have resolved and infact restated the merger of National bank with Wema so that we can consolidate and make the bank a more virile one" he said.
On the planned privatisation of the conglomerate, the Ogun State Governor said if the exercise will bring solutions to most of the problems in the company, investors should be given the opportunity to put in their money for better and quality service to the citizenry.
On the future of the telecommunication company, Oduatel he disclosed that efforts are been put in place to enure that the subsidiary company works out well and become functional, adding "that is the expectation of the the people of the South West.