Unity Bank Plc notified the Nigerian Exchange Limited (NGX), shareholders, and other stakeholders that the Central Bank of Nigeria (CBN) has approved its proposal to merge with Providus Bank Limited.
This is according to Rule 17.3 Information Disclosure in the Nigerian Exchange Limited (NGX) Rulebook 2015. The official regulatory approval will now take needed actions towards the merger’s formal completion.
The new merger will help Unity Bank Plc meet the Central Bank of Nigeria (CBN) ‘s new recapitalisation framework requirements for banking operations in Nigeria.
According to the release signed by company secretary Alaba Williams, the Bank would continue to update NGX, shareholders, and other stakeholders on the progress.
Why does it matter? The new merge update will enable shareholders make the necessary investment decisions needed going further.
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