Unity Bank Confirms Compliance with CBN Recapitalization

Unity Bank has officially addressed recent media reports suggesting that it has failed to meet the Central Bank of Nigeria's (CBN) stringent recapitalization requirements. The bank confirmed its full compliance and outlined its strategy to exceed the minimum capital threshold ahead of the March 31, 2026 deadline.

Unity Bank emphasized its solid capital position and plans to merge with another bank to bolster its capital base above the N200 billion minimum requirement necessary to maintain its banking license. The merger process is in its final stages, having received the necessary approvals from the CBN and the Securities and Exchange Commission.

Unity Bank is also ensuring a seamless transition for depositors and stakeholders, with legal formalities nearing completion and a court sanction expected shortly. The bank urged stakeholders to rely on verified information regarding the transaction, reinforcing its commitment to building a robust consolidated entity capable of supporting Nigeria's evolving financial ecosystem.