The Central Bank of Nigeria (CBN) has given the go-ahead foreign crucial financial assistance to support the proposed merger between Unity Bank Plc and Providus Bank Limited.
According to a statement by the CBN’s Acting Director of Corporate Communications, Hakama Sidi, on Tuesday, the intervention aims to strengthen Nigeria’s financial system and prevent potential systemic risks.
The apex bank said the merger is dependent on the financial support provided by the CBN and the funding is expected to play a vital role in addressing Unity Bank’s total obligations to the Central Bank and other stakeholders.
