ZANGO KATAF, JABA PDP COMMITTEES HOLD RECONCILIATION MEETING AHEAD OF 2027 ELECTIONS. (PHOTO).

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 Zango Kataf, Jaba PDP Committees Hold Reconciliation Meeting Ahead Of 2027 Elections The Peoples Democratic Party (PDP) Working Committees in Zango Kataf and Jaba Local Government Areas have held a strategic reconciliation meeting aimed at strengthening party unity and positioning the party for success in the 2027 general elections. The meeting, held on Friday, July 31, 2026, in Jaba Local Government Area, was jointly chaired by the PDP Chairmen of Jaba and Zango Kataf LGAs, Sabastine David Bijiri and Martins Markus Koyah. It brought together party executives, stakeholders, ward officials, elders, youth and women leaders, as well as members from both local government areas. Speaking at the meeting, the Zango Kataf PDP Chairman commended party leaders and members for supporting the zoning of the party’s House of Representatives ticket to Zango Kataf Local Government Area. He described the decision as a reflection of the party’s commitment to fairness, equity, inclusion, and mutual ...
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CBN APPROVES FINANCIAL ACCOMMODATION FOR UNITY BANK AND PROVIDUS BANK MERGER.(PHOTO).#PRESS RELEASE

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 Central Bank of Nigeria www.cbn.gov.ng


PRESS RELEASE


CBN Approves Financial Accommodation For Unity Bank and Providus Bank Merger


The Central Bank of Nigeria (CBN) has granted approval for a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and Providus Bank Limited. This strategic move is designed to bolster the stability of Nigeria's financial system and avert potential systemic risks.


The merger is contingent upon the financial support from the CBN. The fund will be instrumental in addressing Unity Bank's total obligations to the Central Bank and other stakeholders. It is unequivocal to state that the CBN's action is in accordance with the provisions of Section 42 (2) of the CBN Act, 2007. This arrangement is crucial for the financial health and operational stability of the post- merger organisation.


Furthermore, it is important to emphasise that no Nigerian bank currently faces a precarious situation comparable to that of Heritage Bank, which was recently liquidated. The CBN remains committed to safeguarding depositors' interests and ensuring the smooth functioning of the banking sector through proactive measures and strategic interventions.


The CBN's decision underscores its dedication to maintaining financial stability and promoting confidence in the banking system during this transformative period.


August 06, 2024


Sidi Ali, Hakama (Mrs.) Ag. Director, Corporate Communications

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