Providus and Unity Bank’s Surprising Merger: 10 things you need to know The Central Bank of Nigeria (CBN) has recently approved the merger of Unity Bank and Providus Bank, marking a significant consolidation in the nation’s banking sector. The approval comes with a substantial financial backing from the CBN—a N700 billion loan intended to stabilize and strengthen the new banking entity. This merger, while surprising to many, represents a strategic move to reinforce the stability of Nigeria’s financial system and mitigate potential systemic risks. Here are ten key points to understand the impact...