• Thursday, March 28, 2024
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BusinessDay

Taraba Savings and Loans Limited increases share capital to N1b to meet CBN requirement

Taraba: Agency disburses N500m for community projects

The Chief Executive Officer of the Taraba Investment and  Properties  limited, Iliya Ezekiel, disclosed at the weekend that the state mortgage bank, Taraba Savings and Loans Limited has increased its share capital to N1 billion.

He said the funds were injected by governor Darius Ishaku, to meet the requirement of Central Bank of Nigeria (CBN) as the state will be converting the Bank to a bigger Microfinance Bank soon in order to cater for the needs of Taraba people.

Iliya, who stated this while  presenting cheques to old staff of the Taraba Hotels Limited in Jalingo said the state mortgage Bank achieved such a feat due to the commitment of staff  and the tremendous support of Governor Ishaku.

He also said the Taraba state Mortgage Bank is a subsidiary of Taraba Investment and Properties Limited  (TRIP Limited) and was thriving above many micro finance and mortgage banks in Nigeria.

He informed that the State Investment House adopted a new focus, discipline and ideas aimed at boosting performance of all subsidiaries which include Mambila Beverages Nigeria Ltd, producers of Highland Tea, Trip Polythene Products Ltd, Taraba Oil Mills Ltd,  producers of palm oil, Taraba Gas Limited, Viva Feedmill Ltd, Taraba Vegetables Limited and others which boost revenue and employment for the state and beyond.

The CEO assured the staff of the Hotel that all their outstanding arrears owed by the past administration would be paid soon as they commit to hard work and honesty.

He said the management had issued cheques to 39 out of 166 staff who were owed during the previous administrations.

He also called on the residents of the state to patrionise the Hotel so as to boost the revenue drive in the state as the major customer of the Hotel is the state government supporting them with guests daily.

The state’s Investment and Properties boss  thanked Governor Ishaku for transferring the management of the Hotel to the Investment House, assuring the state government of prudence in the management of resources from the Investment House.

In his remarks, Comrade Paul Sabonaye, Chairman, Taraba Hotels Staff Union commended the governor and the management of the Hotel for the payment of salary arrears being owed to workers in the organisation.

Sabonaye said that commitment of the staff to work hard to achieve their primary target and to boost revenue generation would be a top priority given the honesty displayed by the TRIP Managing Director  Iliya Ezekiel.

The Union Chairman further stated that he had seen the integrity of the MD TRIP, and had come to agree with him in totality as a developer per excellence who emulated his mentor Arc. Darius Dickson Ishaku, the governor of Taraba state.

“Many described Iliya Ezekiel, as an Excellence, hardworking and a man of integrity, which I believe  it was this quality in him  that made Governor Darius Dickson Ishaku  bring him out from the Bank to hold the position of the Head of the Investment house of the state”.

Staff of the Hotel had protested over non-payment of their salaries amounting to nine months.

The new management of the Hotel, upon taking over under the directive of the governor, promised to clear the backlog of arrears owed to workers.

The management has commenced the payment of the salaries in batches, and has also started full renovation of the Hotel to attract more customers.