Wednesday, June 11, 2025
  • About
  • Advertise
  • Careers
  • Features
  • News
  • Sports
  • Entertainment
  • Weather
  • Info-data
  • Beautiful Cities
  • Discoveries
  • Login
No Result
View All Result
Home Business

Nigeria’s Central Bank Approves Merger of Unity, Providus Banks

Kehinde Giwa by Kehinde Giwa
August 6, 2024
in Business
0
Nigeria’s Central Bank Approves Merger of Unity, Providus Banks
0
SHARES
9
VIEWS
Share on FacebookShare on Twitter

The Central Bank of Nigeria (CBN) on Tuesday announced the approval for a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and the Providus Bank Limited.

TheREAD apex bank, in a statement by its acting Director of Corporate Communications, Hakama Sidi-Ali, said the move is designed to bolster the stability of the nation’s financial system and avert potential systemic risks.

Related posts

Nigeria: Peter Obi Criticises Tinubu’s Fuel Subsidy Removal and FX Policy

Nigeria: Peter Obi Criticises Tinubu’s Fuel Subsidy Removal and FX Policy

June 9, 2025
Egypt and Turkey Discuss Libya Situation Amid Renewed Tensions

Egypt and Turkey Discuss Libya Situation Amid Renewed Tensions

June 9, 2025

“The merger is contingent upon the financial support from the CBN. The fund will be instrumental in addressing Unity Bank’s total obligations to the Central Bank and other stakeholders,” the statement read.

“It is unequivocal to state that the CBN’s action is under the provisions of Section 42 (2) of the CBN Act, 2007. This arrangement is crucial for the financial health and operational stability of the post-merger organisation.

“It is important to emphasise that no Nigerian bank currently faces a precarious situation comparable to that of Heritage Bank, which was recently liquidated.”

The CBN said it remains committed to safeguarding depositors’ interests and ensuring the smooth functioning of the banking sector through proactive measures and strategic interventions.

Tags: Central BankMergerProvidus Bank
Previous Post

NIGERIA: Emmanuel Amunike Unveiled as Heartland FC Coach for 2024/25 Season

Next Post

Nigeria’s Transmission Company Denies Collapse of Power Grid

Next Post
Nigeria’s Transmission Company Denies Collapse of Power Grid

Nigeria's Transmission Company Denies Collapse of Power Grid

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

South Africa: Mia le Roux Withdraws from Miss Universe Due to Health Concerns

South Africa: Mia le Roux Withdraws from Miss Universe Due to Health Concerns

7 months ago
Kenya Human Rights Commission Warns of Rising Abductions Amid Crackdown on Government Critics

Kenya Human Rights Commission Warns of Rising Abductions Amid Crackdown on Government Critics

6 months ago
World Mental Health Day 2024: It is Time to Prioritize Mental Health Everywhere

World Mental Health Day 2024: It is Time to Prioritize Mental Health Everywhere

8 months ago
Nigeria: Court Dismisses Suit Seeking Removal of EFCC Chairman, Olukoyede

Nigeria: Court Dismisses Suit Seeking Removal of EFCC Chairman, Olukoyede

12 months ago

BROWSE BY CATEGORIES

  • Beautiful Cities
  • Business
  • Culture
  • Discoveries
  • Entertainment
  • Features
  • Info-Data
  • Lifestyle
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Travel
  • Uncategorized
  • Weather

POPULAR NEWS

  • BREAKING: Shawwal 1446 AH Crescent Sighted in Nigeria, Sunday is Eid-el-Fitr

    BREAKING: Shawwal 1446 AH Crescent Sighted in Nigeria, Sunday is Eid-el-Fitr

    0 shares
    Share 0 Tweet 0
  • Nigeria: (VIDEO) Protesters Storm Lagos Assembly with Banners Reading ‘We Don’t Have a Place to Live’

    0 shares
    Share 0 Tweet 0
  • Nigeria: (VIDEO) Popular ‘The New Masquerade Actress’ Ovularia Dies at 81

    0 shares
    Share 0 Tweet 0
  • Nigeria Nominates Olufemi Elias as Candidate For World Court

    0 shares
    Share 0 Tweet 0
  • BREAKING: (VIDEO) INEC Declares APC’s Okpebholo Winner of Edo Governorship Election

    0 shares
    Share 0 Tweet 0
  • About
  • Advertise
  • Careers

© 2023 AAN TV - All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Features
  • News
  • Sports
  • Entertainment
  • Weather
  • Info-data
  • Beautiful Cities
  • Discoveries

© 2023 AAN TV - All rights reserved.