Unity Bank has confirmed that its proposed merger with Providus Bank is a done deal, dismissing reports that the transaction had collapsed.
In a statement shared on Wednesday, the bank clarified that the merger has secured regulatory approvals and is currently at the integration stage.
Unity Bank stated that the transaction continues to enjoy the support of the Central Bank of Nigeria (CBN), including a pivotal financial accommodation to facilitate the merger.
The deal has also received a “no objection” approval from the Securities and Exchange Commission (SEC).
Both banks’ shareholders had earlier endorsed the merger at a general meeting in September 2025, to formally adopt the scheme of merger.
The combined institution is envisioned to have a capital base exceeding ₦200 billion, which is the minimum requirement for maintaining a national banking licence under the recapitalisation framework of the CBN.
The Managing Director and CEO of Unity Bank, Ebenezer Kolawole, described the merger as a pivotal development for both institutions.
He also stated that the merger will boost capital strength, operational capacity, and strategic positioning, to better support economic growth and deliver innovative financial solutions across Nigeria.
