The Central Bank of Nigeria has approved the merger of Unity Bank Plc and Providus Bank Limited.In a statement signed by Hakama Sidi Ali, CBN’s acting director of corporate communications, on Tuesday, the apex bank said the merger is contingent upon the financial support from CBN.
“This strategic move is designed to bolster the stability of Nigeria’s financial system and avert potential systemic risks. Also, CBN emphasised that no Nigerian bank currently faces a precarious situation comparable to that of Heritage Bank, which was recently liquidated. “The CBN’s decision underscores its dedication to maintaining financial stability and promoting confidence in the banking system during this transformative period.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CBN approves Unity Bank, Providus Bank mergerThe Latest news in Nigeria and world news. The Guardian Nigeria Newspaper brings you the latest headlines, opinions, political news, business reports and international news.
Source: GuardianNigeria - 🏆 1. / 94 Read more »
CBN saves Unity Bank, clears merger with ProvidusThe Central Bank of Nigeria (CBN), yesterday, extended a financial lifeline to struggling Unity Bank Plc and gave clearance for its planned
Source: GuardianNigeria - 🏆 1. / 94 Read more »
CBN approves Unity, Providus banks’ mergerThe Central Bank of Nigeria (CBN) has granted approval for the proposed merger between Unity Bank Plc and Providus Bank Limited.
Source: GuardianNigeria - 🏆 1. / 94 Read more »
CBN approves Unity, Providus banks’ mergerThe CBN said the intervention aims to strengthen Nigeria’s financial system and prevent potential systemic risks.
Source: PremiumTimesng - 🏆 3. / 78 Read more »
JUST IN: CBN approves bailout for merger of Unity, Providus banksThe Central Bank of Nigeria (CBN) says it will offer financial support to aid the merger between Unity Bank Plc and Providus Bank Limited.
Source: thecableng - 🏆 2. / 80 Read more »
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.
Source: DailyPostNGR - 🏆 11. / 59 Read more »