CBN approves Unity, Providus banks’ merger

The Central Bank of Nigeria has granted approval for the proposed merger between Unity Bank Plc and Providus Bank Limited. CBN’s spokesperson, Sidi Ali Hakama, disclosed this in a statement on Tuesday evening. READ ALSO:EXPLAINER! Fitch Ratings: Is Dangote Industries going bankrupt? Hakama said this strategic move is designed to bolster the stability of…

She added that the CBN’s action is in accordance with the provisions of Section 42 of the CBN Act, 2007. The Central Bank of Nigeria has granted approval for the proposed merger between Unity Bank Plc and Providus Bank Limited. CBN’s spokesperson, Sidi Ali Hakama, disclosed this in a statement on Tuesday evening. READ ALSO:EXPLAINER! Fitch Ratings: Is Dangote Industries going bankrupt? Hakama said this strategic move is designed to bolster the stability of…

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CBN approves Unity, Providus banks’ mergerThe CBN said the intervention aims to strengthen Nigeria’s financial system and prevent potential systemic risks.
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