Tag: Unity Bank

The Central Bank of Nigeria, (CBN), has approved the merger of Providus Bank and Unity Bank Plc, marking a significant development in Nigeria�s financial sector. The announcement, which was made on Tuesday, in an issued statement signed by theCBN’s Acting Director of Corporate Communications, Hakama Sidi, said the decision aligns with the provisions of Section 42 (2) of the CBN Act, 2007″. The statement from the CBN read: �The Central Bank of Nigeria has granted approval for a pivotal financial accommodation to support the proposed merger between Unity Bank Plc…

The Central Bank of Nigeria (CBN) yesterday described as �fake news�, a media report that it was considering nationalising Unity Bank Plc. CBN�s spokesman, Osita Nwanisobi, in a statement, advised customers and other stakeholders of the bank to disregard the report, describing it as the handiwork of mischief-makers. He said, �The report is fake news; there is no iota of truth in it”, adding that the public should disregard such news. The report had claimed that the apex bank�s target examination of Unity Bank showed that the Tier-2 lender is…