The Central Bank of Nigeria (CBN) has announced the approval for a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and the Providus Bank Limited.

The apex bank, in a statement by its acting Director of Corporate Communications, HAKAMA SIDI-ALI, said the move is designed to bolster the stability of the nation’s financial system and avert potential systemic risks.

The CBN also said it remains committed to safeguarding depositors’ interests and ensuring the smooth functioning of the banking sector through proactive measures and strategic interventions.