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. Hakama said this strategic move is designed to bolster the stability of Nigeria's financial system and avert potential systemic risks. “The…
She added that the CBN’s action is in accordance with the provisions of Section 42 of the CBN Act, 2007. She added that the apex bank remains committed to safeguarding depositors’ interests and ensuring the smooth functioning of the banking sector through proactive measures and strategic interventions.Before flagging, please keep in mind that Disqus does not moderate communities. Your username will be shown to the moderator, so you should only flag this comment for one of the reasons listed above.
Pan African Towers Ltd, Nigeria’s leading provider of digital infrastructure has announced the appointment of Jyoti Desai and Vivek Gupta as Non-Executive Directors, with effect from May 21st, 2024. Jyoti Desai, a former Group Chief Operating Officer of MTN, is a banking and telecoms professional with more than 35 years in the industry. Her…
The Nigerian Stock Exchange may have extended July downturn into the current month as losses suffered by many bluechip stocks, especially MTN Nigeria wiped out gains recorded last Friday, causing market capitalisation to dip by N93 billion. At the close of transactions yesterday, investors fortunes declined by N93 billion, due to heavy share price…
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