Lagos, Nigeria – Providus Bank Limited confirmed it has exceeded the Central Bank of Nigeria’s N50 billion capital requirement for regional commercial banks with a N65 billion capital base achieved since January 2025, directly refuting recent media reports questioning compliance.
Okay News reports the bank’s statement: “Providus Bank confirms that it has met its capital requirement since January 2025 and currently has a capital base of N65 billion… any suggestion that Providus Bank has not met the applicable recapitalisation threshold is not consistent with its current regulatory standing.”
Providus and Unity Bank advance their merger toward national status, targeting CBN’s N200 billion threshold with regulatory approvals, shareholder support, and pending court sanction—integration already underway for a stronger combined entity.
CBN disclosed 30 banks met new thresholds by March 6 via rights issues, IPOs, and private placements since the 2024 recapitalization began, with 33 raising additional capital as supervisory checks continue for remaining institutions.
The clarification positions Providus firmly among compliant regional banks while the merger sets up national license competitiveness in Nigeria’s consolidating financial landscape.
