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Yoruba Nation: Governor Adeleke Takes Pre-emptive Security Measures, Appeals for Dialogue | Governor Adeleke Hails CCC Wonderland Shepherd, Abraham Olumide Gangbe, on His Birthday | You lied, Adeleke’s commitment to workers welfare unbroken, | Sexual Violence Against Women: Governor Adeleke Sets up Action Committee | Ilesa Accident: Governor Adeleke Approves Expansion of Ilbodi-Ilesa Road, Creation of Trailer Park | EID-EL-FITR: “KEEP PRAYING FOR US”, GOVERNOR ADELEKE TELLS MUSLIM FAITHFUL. | Governor Adeleke Mourns Late Royal Father, HRH, Olaoye Oyelayo | Governor Adeleke Felicitates Dr. Muyiwa Oladimeji on his Birthday | Governor Adeleke Tasks Ibadan Disco on Power Supply to Osun, Unveils Power Sector Agenda | IFRA PLAN – Osun Government Charges Contractors On Quality And Timely Delivery | Osun government begins dredging of waterways | Governor Adeleke Expresses Shock and Sadness over Tragic Ilesa Accident, Directs Transportation Commissioner to Investigate | Governor Adeleke Celebrates Ebenezer Obey at 82 | Governor Adeleke Enforces New Retirement Age for Teaching Profession | Governor Adeleke celebrates Hon. Moji Omisore on her birthday | Adeleke’s Spokesperson Says Governor is Fixated on Selfless Service, Punctures Opposition Lies | Easter / Eid-ul-Fitr: Governor Adeleke Recommits to Physical and Stomach Infrastructure, Commences Distribution of Rice | Governor Adeleke Condoles Oluwo, Iwoland Muslims Community Over Demise Of Chief Imam | GOVERNOR ADELEKE EXTOLS PRESIDENT TINUBU AT 72 | Senator Adeleke felicitates with Senator Ajagunla Olubiyi on his birthday

Breaking News

Yoruba Nation: Governor Adeleke Takes Pre-emptive Security Measures, Appeals for Dialogue | Governor Adeleke Hails CCC Wonderland Shepherd, Abraham Olumide Gangbe, on His Birthday | You lied, Adeleke’s commitment to workers welfare unbroken, | Sexual Violence Against Women: Governor Adeleke Sets up Action Committee | Ilesa Accident: Governor Adeleke Approves Expansion of Ilbodi-Ilesa Road, Creation of Trailer Park | EID-EL-FITR: “KEEP PRAYING FOR US”, GOVERNOR ADELEKE TELLS MUSLIM FAITHFUL. | Governor Adeleke Mourns Late Royal Father, HRH, Olaoye Oyelayo | Governor Adeleke Felicitates Dr. Muyiwa Oladimeji on his Birthday | Governor Adeleke Tasks Ibadan Disco on Power Supply to Osun, Unveils Power Sector Agenda | IFRA PLAN – Osun Government Charges Contractors On Quality And Timely Delivery | Osun government begins dredging of waterways | Governor Adeleke Expresses Shock and Sadness over Tragic Ilesa Accident, Directs Transportation Commissioner to Investigate | Governor Adeleke Celebrates Ebenezer Obey at 82 | Governor Adeleke Enforces New Retirement Age for Teaching Profession | Governor Adeleke celebrates Hon. Moji Omisore on her birthday | Adeleke’s Spokesperson Says Governor is Fixated on Selfless Service, Punctures Opposition Lies | Easter / Eid-ul-Fitr: Governor Adeleke Recommits to Physical and Stomach Infrastructure, Commences Distribution of Rice | Governor Adeleke Condoles Oluwo, Iwoland Muslims Community Over Demise Of Chief Imam | GOVERNOR ADELEKE EXTOLS PRESIDENT TINUBU AT 72 | Senator Adeleke felicitates with Senator Ajagunla Olubiyi on his birthday
Webmaster December 24, 2013

N1.65b More For Osun Institution

The Osun State government’s financial institution, the Omoluabi Savings and Loans Limited, has recapitalised with additional N1.65 billion shares.
Speaking with reporters in Osogbo, the state capital, after a board meeting, the Chairman of the Board of Directors, who is also the Commissioner for Finance, Economic Planning and Budget, Dr. Wale Bolorunduro, said the firm is offering 3 billion shares at 59 kobo per share.
He said the recapitalisation would reawaken the capital market with the recapitalisation.
The commissioner said: “The company would be breaking the jinx of the five years absence of Initial Public Offer (IPO) in the country since the crash in the capital market by listing 3 billion shares for offer at 50 kobo per share on Friday, December, 27, 2013. The offer closes that day.”
He said the recapitalisation means that after subjecting the company to the discipline of the Security Exchange Commission (SEC) and the Stock Exchange, it has been opened to ownership for more indigenes and residents of Osun State.
Bolorunduro said it is an opportunity for workers to buy more shares and earn dividends as well as borrow with ease.
He said increase in shares means increase in money with which the company can do business as well as the mortgages it can grant to people.
The commissioner said: “This is another way of bringing succour to the people, who cannot approach commercial banks.”
He said the recapitalisation became imperative as a result of the Central Bank of Nigeria’s (CBN’s) statutory regulations, which end on December 31.
Bolorunduro assured that more housing mortgages would be available on long term as an added advantage of the recapitalisation.
THE NATION

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