Just in: CBN Approves Unity, Providus Banks Merger | ClipTV Online

Abraham AdaranijoAugust 6, 20241 Mins read159 Views

The Nigeria apex bank, the Central Bank of Nigeria has approved the Unity Bank and Providus Bank merging.

The apex bank, in a statement signed by the acting Director, Corporate Communications, Hakama Sidi, made the announcement on Tuesday. He said the action is in accordance with the provisions of Section 42 (2) of the CBN Act, 2007.

This development signals the first merger to be approved following a mandate by the apex bank to increase its minimum capital base.

The CBN also announced the approval of a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and Providus Bank Limited.

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Abraham Adaranijo

ClipTV Online is a media/news platform, covers a range of topics from business, culture, and local news, offering both entertainment and journalistic content. It also handle forms of media activities like photography, Video, graphic design and online PR.
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Abraham Adaranijo

ClipTV Online is a media/news platform, covers a range of topics from business, culture, and local news, offering both entertainment and journalistic content. It also handle forms of media activities like photography, Video, graphic design and online PR.