Proposed merger of Providus Bank and Unity Bank has officially entered its integration phase.

According to the new establishment, now known as ProvidusUnity Bank Limited, the merger deal is now in its final integration stage following the successful completion of all legal and regulatory requirements.

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In a statement confirming the development to customers, Providus Bank announced the successful completion of the legal process supporting the merger and assured customers that banking operations would remain seamless throughout the transition.

The bank described the merger as a major milestone that would create a stronger financial institution with broader national reach, deeper capabilities, and an enhanced ability to deliver quality banking services.

According to the statement, the combined institution is expected to provide customers with improved access to banking services, stronger technology infrastructure, enhanced digital banking capabilities, expanded product offerings, and a wider network of service channels across Nigeria.

Providus Bank also reassured customers that their accounts and banking relationships would remain secure and uninterrupted during the integration process.

The bank further noted that customers would continue to enjoy full access to existing banking services and channels while the transition progresses.

The lender further stated that the merger would result in improved service delivery driven by stronger operational capabilities and a broader nationwide footprint. It added that any actions required from customers during the transition would be clearly communicated in advance.

Emphasising the strategic significance of the merger, the bank said the next phase of its growth is focused on building a stronger institution capable of supporting economic development while maintaining high standards of customer service.

Oracle Intelligence recalls that that, earlier this month, the Supreme Court effectively ended the long-standing dispute over the proposed merger between Providus Bank Limited and Unity Bank Plc, as a unanimous judgement of the apex court set aside an Appeal Court ruling opposing the transaction.

In a unanimous judgment delivered by a five-member panel led by Justice Tijani Abubakar, the apex court upheld the merger and dismissed the appeal for lacking merit. The court also awarded N10 million in costs against the appellants in favour of each respondent.

The appeal, filed under Appeal No. SC/CV/132/2026, arose from earlier proceedings at the Court of Appeal and the Federal High Court, where efforts were made to halt the consolidation of the two financial institutions.

Invoking its powers under Section 22 of the Supreme Court Act, the court went beyond dismissing the appeal by formally sanctioning the merger scheme. It ordered the transfer of all assets, liabilities, undertakings and real properties of Unity Bank Plc to Providus Bank Limited in line with the approved merger arrangement.

The apex court directed that the transfer process be completed within 10 days.

As part of the merger terms, the court approved a consideration of N3.18 per share for Unity Bank shareholders or an exchange ratio of 18 Providus Bank shares of 50 kobo each for every 17 Unity Bank shares held.

The court further ordered the dissolution of the Unity Bank board without winding up the institution and approved the adoption of a new corporate identity, ProvidusUnity Bank Limited, for the merged entity.

Suleiman Abubakar and Mohammed Goni Modu, customers and shareholders of the affected banks, had sought through a series of legal actions to stop the merger.

Their challenge moved from the Federal High Court to the Court of Appeal before reaching the Supreme Court.