CBN approves financial accommodation for Unity, Providus banks merger

According to the apex bank, the approval is designed to bolster the stability of Nigeria’s financial system and avert potential systemic risks. 'The merger is contingent upon the financial support from the CBN. The fund will be instrumental in addressing Unity Bank’s total obligations to the Central Bank and other stakeholders. It is unequivocal to state that the CBN’s action is by the provisions of Section 42 of the CBN Act, 2007.

'Furthermore, it is important to emphasise that no Nigerian bank currently faces a precarious situation comparable to that of Heritage Bank, which was recently liquidated. 'The CBN remains committed to safeguarding depositors' interests and ensuring the smooth functioning of the banking sector through proactive measures and strategic interventions.

Argentina Últimas Noticias, Argentina Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

NGX suspends Unity Bank, NPF Microfinance Bank, six other companies sharesThe Nigerian Exchange group has suspended shares trading of Unity Bank, Nigerian Police Force Microfinance Bank, and six other companies that defaulted in filing their relevant accounts for 2023. NGX Regulation, the regulatory arm of the market, disclosed this in a bulletin on Monday, by its head, Godstime Iwenekhai.
Fuente: DailyPostNGR - 🏆 11. / 59 Leer más »

'Abuse of office': Emefiele, wife aren't signatories to companies' accounts, witness tells courtIfeoma Ogbonnaya, an assistant manager with Zenith Bank, says Godwin Emefiele and his wife, Margaret, are not signatories to the accounts that received funds from the Central Bank of Nigeria (CBN).
Fuente: thecableng - 🏆 2. / 80 Leer más »