The focus of this project is to elucidate evaluation of mergers and acquisition of financial institution on the Nigeria economy. As a matter of fact the importance of merger and acquisition in the survival of a business cannot be overemphasized, therefore its help in enhancing banking efficiency, size and development. This project work was design to find the effect of merger and acquisition in intercontinental bank plc, as well as the effects of mergers and acquisition of banks on the Nigeria economy in which some of the factors that contributed to the growth of economy also analyzed. For comprehensive understanding, this project is presented in five chapters. Chapter one include the introduction, chapter two comprise of the literature review, chapter three contain the research methodology.