Tag: Providus Bank

Providus Bank vows to encourage non-oil export
Banking

Providus Bank becomes ninth-largest bank in Nigeria

Providus Bank Limited has entered Nigeria’s top tier of lenders, becoming the ninth-largest bank by assets following its business combination with Unity Bank. The merger gained momentum on Friday after a court-mandated Extraordinary General Meeting, where shareholders and boards of both Providus Bank and Unity Bank overwhelmingly approved the business combination. According to financial statements […]

Banking featured

AMCON sells 34% stake in Unity Bank to Providus

The Asset Management Corporation of Nigeria has sold its 34 per cent equity stake in Unity Bank Plc to Providus Bank, marking a significant milestone in a long-awaited merger between the two financial institutions. The transaction was completed via a crossed deal involving 4 billion Unity Bank shares at N1.66 per share, amounting to over […]

Providus Bank vows to encourage non-oil export
Business

Felak Group denies involvement in $7m Providus Bank scandal

Felak Group has denied reports linking its Chief Executive Officer, Dr. Aisha Achimugu, and its subsidiary, Oceangate Engineering Oil & Gas, to a $7 million cash transaction tied to Providus Bank. The company described the claims as false, misleading, and deliberately crafted to smear its reputation. According to Felak Group, the allegations appear calculated to […]

Banking featured

Providus bank to take over Unity bank

Providus Bank is set to take over the corporate identity of Unity Bank, with Unity’s shareholders either receiving cash payments or being allotted shares in Providus. Under the approved scheme of merger, Providus Bank Limited’s certificate of incorporation will serve as that of the enlarged institution. The scheme also stipulates that Unity Bank’s entire share […]

featured

CBN endorse Providus Bank, Unity Bank merger

The Central Bank of Nigeria has granted the merger of Providus Bank and Unity Bank. This was disclosed in a statement signed by the acting Director, Corporate Communications, Hakama Sidi, on Tuesday, adding that the action is in line with the provisions of Section 42 (2) of the CBN Act, 2007. This is the first […]

Providus Bank introduces dual-purpose card for SMEs
Banking

Providus Bank introduces dual-purpose card for SMEs

Providus Bank Limited has announced a collaboration with MasterCard to launch an innovative payment solution for business customers, allowing for seamless transactions for both payment and collection. According to The Punch, the Bank’s Managing Director, Mr. Walter Akpani, emphasized the organization’s dedication to innovation during his speech at the launch of the new solution known […]

Providus Bank vows to encourage non-oil export
Banking

Providus Bank vows to encourage non-oil export

Providus Bank has pledged to assist its clients in developing a domestic economy that is dependent on exports in a sustainable manner. This was said by the Managing Director and Chief Executive Officer of Providus Bank, Mr. Walter Akpani, in his opening remarks at the third hybrid non-oil export conference held by the financial institution in Lagos. […]