Providus Bank Plc has commissioned a new branch in Ado-Ekiti, marking another step in its steady expansion across key growth markets in Nigeria.

Having met the Central Bank of Nigeria’s (CBN) recapitalisation requirement since January 2025, Providus Bank is now focused on expanding its footprint to support local enterprise, deepen financial inclusion, and bring banking services closer to individuals and businesses.

Speaking at the commissioning, the Executive Director/Chief Financial Officer, Deoye Ojuroye, noted that the expansion is part of a broader plan to strengthen the Bank’s presence nationwide over the next 12 months.

“Our approach is deliberate—we are growing in the right places, supporting real economic activity, and building a bank that is both resilient and responsive to the needs of our customers.”

He added that Providus Bank remains on a strong footing, with a disciplined approach to capital and risk management underpinning its growth.

“We are well capitalised within our regulatory category, and that gives us the confidence to continue expanding responsibly while supporting businesses and communities.”

The Bank plans to open additional branches in strategic locations over the coming year, reinforcing its commitment to scale, accessibility, and long-term value creation.

Providus Bank continues to position itself as a reliable partner to businesses and individuals, combining financial strength with a clear focus on sustainable growth.

In a bold move to strengthen environmental protection across Nigeria, Sterling Bank, in collaboration with Sterling One Foundation, Lagos Waste Management Authority, Sunbeth, community volunteers, and partner organizations, is set to launch The Great Nigeria Cleanup, a nationwide environmental movement taking place on April 25, 2026.

Spanning all six geopolitical zones, and aligned with the United Nations Decade of Action, this initiative will mobilize citizens across Lagos, Abuja, Ogun, Osun, Cross River, Delta, Bayelsa, Ebonyi, Abia, Enugu, Imo, Sokoto, Kano, Benue, Plateau, Kogi, and Katsina, reinforcing the urgency of sustained, community-led efforts to combat plastic and waste pollution and restore the health of Nigeria’s environment.

Speaking on the initiative, Temitayo Adegoke, Chief Operating Officer of Sterling Bank stated: “At Sterling, we believe that real impact happens when institutions and individuals come together with a shared purpose. The Great Nigeria Cleanup is our collective opportunity to not only clean our surroundings but to redefine how we care for our environment. This is about building a culture of responsibility and pride that will outlive this moment.”

Also commenting, Olapeju Ibekwe, CEO of Sterling One Foundation added: “The

future we want for Nigeria depends on the actions we take today. The Great Nigeria Cleanup is about more than sanitation, it is about dignity, wellbeing, and shared responsibility.

We are proud to be part of a movement that empowers people across the country to take ownership of their environment.”

As Nigeria continues to face growing environmental challenges, including waste management and urban pollution, The Great Nigeria Cleanup stands as a timely and urgent response, one that brings together government, private sector, and citizens to drive meaningful, lasting change.

On April 25, Nigerians everywhere are encouraged to step out, show up, and be part of this historic movement. Because a cleaner Nigeria is not just a vision, it is a responsibility we all share.

What was sold to Nigerians in May 2022 as a clean and powerful takeover is now looking like something far more troubling.

When Titan Trust Bank announced it had acquired Union Bank of Nigeria, a 100+ year-old institution, the story was simple: a young bank buying a legacy giant. But fresh documents are now pointing to a shocking twist that raises serious questions about how the deal was actually done.

According to findings, Titan Trust Bank allegedly secured a $300 million loan from African Export-Import Bank (Afreximbank) to fund the acquisition of Union Bank of Nigeria. On paper, Titan Trust Bank was the borrower. But in reality, the collateral reportedly included shares, treasury bills, and assets belonging to Union Bank itself.

Let that sink in: the bank being acquired was allegedly used to secure the loan that bought it. Titan Trust Bank—linked to Rahul Savara and Cornelius Vink— is believed to have engineered a scheme so bold it’s almost unbelievable. The plan? Have Union Bank allegedly repay the very illegal loan used to purchase it—using depositors’ funds! If allowed to succeed, the outcome is stark: TitanTrust Bank’s shareholders would end up owning one of Nigeria’s oldest banks for free!

Even more alarming is the alleged complicity of Godwin Emefiele, then Governor of the Central Bank of Nigeria (CBN), who is said to have turned a wilful blind eye to a deal that flew in the face of the CBN’s strict rules against using borrowed funds to acquire Nigerian banks.

It is unbelievable that Godwin Emefiele would allow an inconsequential bank like Titan Trust Bank to plunge a legacy and systemically important bank like Union Bank into a huge and needless debt – just to satisfy the greed of the owners of Titan Trust Bank.

The  Afreximbank loan is reportedly structured in a manner that will force Union Bank to keep using its depositors’ funds to repay the unlawful loan.

By the third quarter of 2025, the situation had reportedly worsened. Exchange rate shocks and rising interest costs pushed the total exposure to over ₦500 billion. What started as a $300 million facility ballooned into a massive financial burden.

It gets deeper. An audit later allegedly described the acquisition/loan arrangement as “unethical financial engineering.” The audit allegedly pointed to possible misuse of foreign loans, questionable financial reporting and improper withdrawals from customer funds.

The fallout has already begun. Following leadership changes at the CBN, the board and management of Union Bank were removed in January 2024. That decision is now being contested in court, adding another layer of controversy to an already explosive situation.

Behind the scenes, ownership of Titan Trust Bank also raises eyebrows. The bank, incorporated in 2018, is largely owned by Dubai-based firms linked to powerful business interests, including individuals such as Rahul Savara and Cornelius Vink.

This is no longer just a banking story. It is a test of transparency, regulation and accountability.
 
If these allegations hold true, then one question refuses to go away: Who really paid for the takeover of Union Bank and at what cost to depositors?