The proposed merger between Providus Bank and Unity Bank is nearing completion, with negotiations now at an advanced stage and an official announcement expected soon, TheCable has learnt.
The deal is one of three major bank consolidations anticipated in early 2026, as tier-2 lenders intensify efforts to meet the recapitalisation deadline set by the Central Bank of Nigeria (CBN).
Multiple sources familiar with the discussions—both within and outside the two banks—confirmed that talks have progressed to the final phase, signalling that regulatory and transactional hurdles are close to being resolved.
If concluded, the Providus–Unity combination would mark a significant development in Nigeria’s banking sector, reflecting the broader restructuring driven by the CBN’s capital requirements and ongoing industry consolidation.