is expected to operate about 230 branches nationwide, giving it one of the largest physical banking networks in Nigeria.
The merger process began in August 2024 and formed part of the wider consolidation of Nigeria’s banking sector following the Central Bank of Nigeria’s recapitalisation programme introduced in March 2024.
The CBN had raised minimum capital requirements for banks as part of efforts to strengthen the financial system, improve lenders’ resilience to economic shocks and enhance their capacity to finance major projects, particularly in sectors such as energy and infrastructure.
By the March 31, 2026 recapitalisation deadline, 33 banks had met the new capital requirements.
Unity Bank, which was formed in 2006 through the merger of nine smaller financial institutions, had faced capital-raising challenges in the aftermath of Nigeria’s 2016 economic crisis triggered largely by the collapse in global oil prices.
Providus Bank, on the other hand, was among the 16 banks that had already met the new minimum capital requirements by November 2025.
With the merger now completed, Unity Bank customers, particularly salary earners, are being encouraged to confirm their new account details promptly and ensure their employers update their records
