The Supreme Court of Nigeria has given its final approval for the merger between Providus Bank Limited and Unity Bank Plc. In a unanimous ruling delivered on Monday, a five-member panel led by Justice Tijani Abubakar dismissed the appeal filed against the transaction, describing it as lacking merit.

This landmark decision removes all remaining legal obstacles and allows the two banks to proceed with their combination. The apex court exercised its powers under Section 22 of the Supreme Court Act to directly sanction the merger.

It also awarded costs of 10 million naira against the appellants in favor of each respondent. With this judgment, Providus Bank and Unity Bank can now fully integrate and operate as one stronger financial institution.

The merger forms part of the Central Bank of Nigeria’s recapitalization program aimed at building bigger and more resilient banks. Shareholders of both institutions had already given strong approval at court-ordered meetings.

Once completed, Unity Bank will dissolve and transfer all its assets, liabilities, and operations to Providus Bank. The new enlarged bank will be known as Providus-Unity Bank Limited.

This development is expected to deliver greater financial stability, improved customer services, wider reach, and stronger capacity to support Nigeria’s economic growth.