Test Your Knowledge on Nigerian Banking Mergers!

Question 1

What was the legal outcome that allowed Providus and Unity Bank to merge?

Accepted Answer

The Supreme Court approved and dismissed the appeal.

Answer

The merger was blocked by the Supreme Court.

Answer

The merger was approved by the President.

Answer

The Central Bank of Nigeria halted the merger.

Question 2

How many branches will ProvidusUnity Bank operate nationwide?

Accepted Answer

230 branches

Answer

150 branches

Answer

300 branches

Answer

200 branches

Question 3

What will Unity Bank shareholders receive under the approved merger scheme?

Accepted Answer

N3.18 per share or 18 Providus Bank shares for every 17 Unity Bank shares

Answer

N5 per share

Answer

20 Providus Bank shares

Answer

10 Unity Bank shares per Providus Bank share

Question 4

What is the projected asset base of the new ProvidusUnity Bank?

Accepted Answer

N2 trillion

Answer

Above N1 trillion

Answer

Below N1 trillion

Answer

N3 trillion

Question 5

What immediate change will customers experience post-merger?

Accepted Answer

New name appearing on banking apps, debit cards, and transaction alerts

Answer

Closure of all branches

Answer

No change at all

Answer

Mandatory account closures