Leaders of Access Bank and
Diamond Bank will on Monday meet with the Central Bank of Nigeria (CBN)
leadership on a possible acquisition deal, Channels Television reports.
Diamond Bank is currently
troubled after one of its foreign investors pulled out. The bank also secured a
national license and closed its international operations.
The new deal, if approved
by regulators, would see Access Bank acquire Diamond Bank.
Such a deal would also have
to be approved by the Nigerian Stock Exchange and other regulators.
Access Bank bought the then
Intercontinental Bank after the 2009-2010 intervention in the latter by the CBN
then led by Lamido Sanusi, the current Emir of Kano.
Details later….
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