PRESIDENT TINUBU'S MESSAGE OF CONDOLENCE TO CHIMAMANDA ADICHIE AND HER FAMILY. (PHOTO). #PRESS RELEASE.

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 STATEHOUSE PRESS STATEMENT PRESIDENT TINUBU'S MESSAGE OF CONDOLENCE TO CHIMAMANDA ADICHIE AND HER FAMILY   With a deep sense of grief, I condole with Ms Chimamanda Ngozi Adichie, her husband, Dr Ivara Esege, and the entire family on the passing of their son, Nkanu Nnamdi.   As a parent myself who has suffered the loss of a loved one, no grief is as devastating as losing a child.   I empathise with the family at this difficult time, and I mourn this sad loss with them.   Ms Adichie is a literary icon who has brought joy and light to many homes globally, and I pray she and her family find strength in the Almighty in this trying hour.   My prayers are with the family.   Bola Ahmed Tinubu, GCFR President and Commander-in-Chief of the Armed Forces Federal Republic of Nigeria January 8, 2026
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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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