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.