The Nigerian Trade Restricted (NGX) has lifted the suspension positioned on the buying and selling of Unity Bank Plc shares, clearing the trail for renewed exercise within the lender’s securities.
The lifting of the suspension on September 25, 2025, was adopted by the crossing of 4.004 billion models of shares beforehand held by the Asset Administration Company of Nigeria (AMCON). The transaction represents 34 p.c of Unity Bank’s issued share capital.
Market disclosures verify that the block of shares was acquired by an current shareholder of Unity Bank and never by Providus Bank Restricted, which is at the moment within the technique of finishing a merger with the tier-two lender.
The Chairman of Unity Bank Plc, Hafiz Mohammed Bashir, whereas addressing shareholders throughout the Courtroom-Ordered Assembly held in Abeokuta on September 26, 2025, clarified that the AMCON transaction is separate from the merger deal. He confused that Providus Bank was not the acquirer of the 34 p.c stake.
The clarification comes amid hypothesis that Providus Bank might have initiated the acquisition forward of the deliberate merger. Nonetheless, data present that the transaction is strictly between AMCON and an current shareholder.
Unity Bank’s shareholders had earlier authorized the proposed enterprise mixture with Providus Bank on the Courtroom-Ordered Assembly, voting overwhelmingly in favour of the merger.
The enlarged entity, to be often known as Providus-Unity Bank (PUB), is predicted to create a stronger monetary establishment positioned for long-term worth supply to stakeholders.
Analysts notice that the switch of the AMCON stake to an investor alerts improved market confidence in Unity Bank’s strategic course.
They added that the elimination of the buying and selling suspension supplies liquidity for current shareholders and creates room for potential appreciation of the bank’s inventory because the merger course of advances.
The NGX’s determination can be seen as a step towards restoring investor confidence within the bank’s shares, which had been suspended pending regulatory and transactional clarifications.
With the merger course of underway and the AMCON block crossing concluded, consideration now shifts to the regulatory approvals and court docket orders required to finish the mixing with Providus Bank.
