Bank customers detail implications of two Nigerian banks merger

President of the Bank Customers’ Association of Nigeria, Uju Ogunbunka, has elaborate the implications of the merger of 2 Nigerian fiscal institutions, Providus and Unity Banks. 

This comes arsenic the 2 banks, on Sunday in a statement, announced a caller name, ProvidusUnity Bank. 

Reacting, the president of the Bank Customers’ Association of Nigeria, Dr. Uju Ogunbunka, successful an exclusive interrogation with DAILY POST connected Monday, said the merger had saved customers the nightmare of mislaid deposits. 

According to him, the merger had prevented the illness of 2 banks and its attendant implications for banks’ customers. 

“It is steadfast improvement due to the fact that if the merger were not done, what we person been discussing is the illness of 1 oregon some of them. It volition prevention the state from different collapsed slope and the implications of mislaid customers’ deposits, spot successful the country’s banking system, and, of course, a diminution successful portfolio concern successful the country,” helium told DAILY POST. 

The improvement comes hardly 3 months aft the Central Bank of Nigeria completed the Nigerian banks’ recapitalization exercise, with 33 banks raising N4.65 trillion. 

DAILY POST reports that successful the past 2 years, large banks, including A...