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 financial accommodation for Unity, Providus banks mergerThe Central Bank of Nigeria, CBN, has approved a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and Providus Bank Limited. Hakama Sidi Ali, CBN’s acting Director of Corporate Communications, disclosed this in a statement on Tuesday.
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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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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.
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