Access Bank moves to buy Diamond Bank

Diamond Bank Headquarters Photo: Business News
Diamond Bank Headquarters Photo: Business News

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….

Support PREMIUM TIMES' journalism of integrity and credibility

 

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


NEVER MISS A THING AGAIN! Subscribe to our newsletter

* indicates required

DOWNLOAD THE PREMIUM TIMES MOBILE APP

Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD: This space is available for a Text_Ad.. Call Willie on +2347088095401 for more information


All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.