Unity Bank Don Dey Propose Marriage to Providus Bank, Omo Naija!

Abeokuta, Ogun State – Gist don land wey fit change wetin we sabi about Unity Bank and Providus Bank. How far, na? E be like say dem wan join body, and na court don order shareholders to gather for September 26, 2025, to decide wetin dey go happen next.

Na so e be! The shareholders go soon vote on whether to approve this big merger wey go see Unity Bank dissolve and Providus Bank take over like e be king for kingdom. If dem free am, Unity Bank shareholders go fit chop N3.18 per share in cash, or, if dem wan dance small business, dem go fit collect 18 shares of Providus Bank for every 17 shares of Unity wey dem hold. (E be like small party wey dem dey arrange.)

As the court, led by Hon. Justice D.I. Dipeolu, don give green light for the meeting, we dey expect plenty wahala when dem gather. The fate of Unity Bank dey hang like Pesin wey wan jump inside water, no be small matter.

Now, make we clear something: if this merger land, na Providus Bank go carry all the assets, liabilities, and properties wey dey belong to Unity Bank. Simple! E mean say Unity Bank no go dey exist again, just like that. (Shey you fit imagine? Na like magic show!)

But no worry too much, because the directors of Unity Bank fit still run the show as dey dey work to fit all regulator modifications wey go dey demand. The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) sef go wan sharply collect their own para.

To add spice to the matter, dis merger discussion dey go since 2024, when CBN bring N700 billion come make everything smooth for Unity Bank. E no be only make dem merge o, but make dem stand strong against all these ‘financial wahala’ wey dey plague banking sector.

So, what it be now? This transaction go set stage for mid-sized lenda wey go face the fierce banking competition for Naija. If dem green light am, we fit see a new financial player wey go na grow o, even though dem don lay low before now.

Make dem no forget say shareholders fit vote in person or proxy, but their voices need to meet at least three-quarters of total shares wey dey present. Na wetin court talk, so no rough play!

As we dey wait for September 26, we fit keep sipping our palm wine and gisting about who dey win the ultimate prize for sweet banking! Who go gree unity? We go soon know. E be like say Nigerian banking sector go change shape again!