| By: Francis Onyemachi
Providus Bank Limited and Unity Bank Plc are set to begin joint operations following the successful completion of their merger, creating a single banking institution.
The development was disclosed in a statement shared by Providus Bank on its official X account on Friday, June 26, 2026.
According to the bank, the merger will strengthen the combined institution’s ability to serve customers, support businesses and contribute to Nigeria’s economic growth.
“This moment represents more than the completion of a transaction. It reflects a deliberate step towards building a strong, more resilient unified institution, better positioned to serve customers, support businesses and contribute meaningfully to Nigeria’s economic growth,” the statement said.
Providus Bank also acknowledged the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) for their guidance and support throughout the merger process.
“We also commend the CBN for its commitment to strengthening the Nigerian financial system through policies that promote stability and long-term growth.
“We are also grateful to the Securities and Exchange Commission, SEC, our shareholders, customers, employees and other stakeholders for their confidence, support and patience throughout this process.”
The commencement of joint operations follows a Supreme Court ruling earlier this month dismissing a suit challenging the merger between Providus Bank and Unity Bank, bringing the legal dispute over the transaction to a close.
The merger process began in August 2024 after the CBN approved the proposed combination of the two banks.
At the time, the apex bank said the intervention, backed by financial support arrangements, was designed to strengthen Nigeria’s banking system and reduce systemic risk.
The CBN also said the financial support would help Unity Bank meet its obligations while ensuring the stability of the merged institution.
According to Providus Bank, the merger combines the complementary strengths of both lenders, including Providus Bank’s innovation, agility and customer service culture, to create a stronger platform for customers, communities and the Nigerian economy.
The bank added that the merger marks not only the completion of a corporate transaction but also the beginning of a more resilient and unified financial institution.
