CBN Approves Merger of Providus and Unity Bank

 The Central Bank of Nigeria (CBN) has approved the proposed merger between Unity Bank PLc and Providus Bank Limited. In a press statement confirming the approval for the merger of both financial institutions, the Apex Bank stated that the arrangement is crucial for the financial health and operational stability of the post merger organisation as well as to avert potential systemic risk.

Read Also: Pastor Jerry Eze Becomes Richest Nigerian YouTuber 

Emphasizing the Central Bank's dedication to financial stability and promoting confidence in Nigeria's banking system, the press statement signed by the CBN's Acting Director of Corporate Communications, Mrs Sidi Ali Hakama, asserted that no Nigerian bank currently faces a situation comparable that of the recently liquidated Heritage Bank.