ASO Savings, Union Homes’ Shareholders Recommit to Integration Process

Yusuf Ebiti

Shareholders of ASO Savings and Loans Plc and those of Union Homes Savings & Loans Plc have restated their commitment towards ensuring  the integration of the two firms into  a leading mortgage financial behemoth in  the country.

Shareholders of ASO Savings and Loans Plc have given the Management of the Mortgage Bank a clean bill of health on the way it handles the acquisition of Union Homes Savings & Loans Plc, insisting that contrary to the claims in certain quarters, the transaction followed all due processes to the satisfaction of all stakeholders.

Some concerned shareholders of  ASO Savings and Loans,  Alhaji Tambari Kabiru, Mrs. Bisi Bakare, Alhaji Hamzat Rilwan, and  Mr. Alex Adio had on Monday  have given the management of the mortgage bank a clean bill of health on the way it  was handling  the acquisition of Union Homes Savings & Loans Plc.

In an advertorial, ASO Savings’  shareholders noted that the integration process was widely accepted by Union Homes staff, enabling ASO to commence the task of resuscitating the ailing firm and ultimately bringing it to profitability.

However, some other shareholders have  condemned the blackmail and threats by  few disgruntled staff of Union Homes to thwart the efforts at achieving integration because of the fear of exposure of their past official misdeeds.

A key shareholder of Union Homes  had  noted  the few disgruntled staff and some  minority shareholders  wanted to frustrate  the integration efforts.

A shareholder said: “But they are making a serious mistake. Those at the helms of affairs at ASO Savings that they are planting fake stories about are solid professionals that the shareholders of the two banks and the regulatory authorities have absolute confidence in because their clean records and competencies speak for them.”

“How can people who are in the breach of corporate governance,  who have enjoyed unethical, almost 90 per cent waivers of their loans which they were supposed to have paid back be talking of corporate governance. It is obvious that they are afraid of their past misdeeds. It is what they are trying to cover up by their futile attempts to thwart the integration process.”

“But we will not be distracted by their antics. The key shareholders of Union Homes are in full support of total integration of the two entities and we will ensure that we achieve it in record time, going forward. The blackmail and threats and all the fake news being planted in the media by these frustrated few will not distract us from achieving full integration.”

Some financial industry analysts have expressed dismay at  the activities of a few Staff of Union Home who have embarked on blackmail tactics to force the hands of ASO Savings management and distract it from achieving full integration of the two banks.

Since the acquisition, ASO Savings has commenced the integration process which is aimed at merging Union Homes and ASO Savings to form one corporate entity.