ProvidusUnity Bank begins operations after the merger

Upon successful completion of all necessary regulatory, shareholder and judicial processes, between Providus Bank and Unity Bank, a new single entity, ProvidusUnity Bank will begin operating as a commercial bank.

According to its promoters, ProvidusUnity Bank brings together the complementary strengths of Providus Bank’s innovation, customer-centric service culture and digital capabilities, as well as Unity Bank’s extensive geographic reach and established market presence to create a stronger platform with greater capacity to serve individuals, businesses and communities across Nigeria.

These developments highlight ongoing reforms in Nigeria’s financial sector aimed at strengthening institutional resilience, maintaining customer confidence, enhancing competitiveness and creating financial institutions capable of supporting economic transformation.

ProvidusUnity Bank believes that stronger institutions will play a critical role in enabling investment, supporting enterprises, expanding access to capital and helping position Nigeria towards its aspirations of building a trillion-dollar economy.

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Ripples Nigeria reports that the consolidation has been fully completed after the Supreme Court dismissed the outstanding shareholder lawsuits and invoked Section 22 of the Supreme Court Act to directly sanction the merger in early June 2026.

The merger is supported by financial accommodation arrangements from the Central Bank of Nigeria (CBN) to enhance financial stability.

Meanwhile, all assets, liabilities and responsibilities of Unity Bank have been transferred to Providus Bank, and the two institutions now function in one operational business, and customer accounts from both banks remain active, even though the systems and branding are actively unified.