Business
Union Bank Pensioners Endorse Recapitalisation
Union Bank Plc pensioners have endorsed the plans by the management and board of the bank to recapitalise in line with the regulatory requirements.
The pensioners, led by Prince Justus Osokoya and Mr Jerome Ezegbu gave their approval to the strategies evolved by the management at an interactive forum with the bank’s management in Lagos recently.
In a release by the bank, the pensioners, after reviewing all the options available to the bank, recognised that without core investor as recommended by the board the bank would lose its identity thus wasting the efforts of its workers.
According to the pensioners, “We have reviewed and recognised that it is not in the best interest of the pensioners to nationalise Union Bank. Therefore, we resolved in our various consultative meetings to support every step taken by the management and board to recapitalise the bank”.
They, however, advised that the bank’s core values are retained through adoption of the best banking practices which had been the hallmark of the bank in the past.
While congratulating the management for taking a close look at the bank’s drawing board in a bid to restoring its accounting principles to the best standard of transparency and accountability, they expressed concern over news of the bank’s derailment in its operations and activities before the intervention of the Central Bank of Nigeria (CBN).
In her remarks, the bank’s group Managing Director/Chief Executive, Mrs Funke Osibodu, lauded the pensioners for their large turn out, noting the presence of former members of general management, especially executive directors who were fully involved in disseminating relevant information on the benefits of a core investors to members.
Vivian-Peace Nwinaene
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
