Supreme Court sanctions Providus–Unity Bank merger

▤ Summary

The Supreme Court has cleared the merger between Providus Bank and Unity Bank and dismissed the appeal that tried to stop it. The ruling orders the transfer of Unity Bank’s assets, liabilities, and undertakings to Providus within 10 days. It also approves the share exchange terms and the new combined name, ProvidusUnity Bank Limited. The decision ends the legal challenge and supports the Central Bank of Nigeria’s recapitalization agenda for stronger banks.

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