Sorodapan

Banks merge for different reasons: to combat financial crisis, to become more competitive, or simply to survive. In Nigeria, Unity Bank Plc is known as the successful product of the largest merger and consolidation in the country’s banking industry.

Mohammed Babangida, a Unity Bank Plc Board member, played a significant role in this historical merger. In 2004, Mohammed Babangida was tasked to direct the affairs of then six merging banks. As an appointed member of the committee of directors, he conducted legal, financial, and human capital due diligence on each member bank, together with the other members of the said committee. In 2005, when the three other banks came into view, Mohammed Babangida and his other committee members subjected the three banks to the same conditions as the first six. In January 2006, nine financial institutions came together to form Unity Bank Plc.