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Access, Diamond Banks’ Merger Get CBN’s Nod

By - - [Economy ]

The ongoing merger and acquisition between Access Bank and Diamond Bank have received the consent of the Central Bank of Nigeria (CBN) which said it has no objection to the deal.

Access Bank and Diamond Bank had on Monday formerly informed the regulators of the proposed merger which is expected to be concluded before the end of the first quarter of next year. The apex bank in a letter dated December 17, 2018, addressed to the managing director and chief executive of Access Bank and signed by director of banking supervision, Mr. Ahmad Abdullahi, said it had no objection to the proposal, advising the commercial bank to proceed to obtain other necessary regulatory approvals for the merger. The CBN, in response to an application for pre-merger by Access Bank stated,

“We refer to your letter dated December 17, 2018 on the above subject (application for pre-merger) and write to inform you that the Central Bank of Nigeria has no objection to your proposed merger with the Diamond Bank Plc. “Furthermore, you are required to obtain other necessary regulatory approvals for the merger.” Meanwhile, the Securities and Exchange Commission (SEC) has said it was waiting for formal application from the banks on the merger.

https://leadership.ng/2018/12/19/access-diamond-banks-merger-get-cbns-nod/


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16 Comments Nigeria News
Olite1996• a month ago
this is amazing
Reply
Danson92• a month ago
Ok
Reply
Iamajtofunmi• a month ago
Ok
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Abdulrazaqmtanko1• a month ago
Ok
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Kolatunmy• a month ago
Ok
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yetty031009• a month ago
Ok
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innkayobami• a month ago
Okay o
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ANOINTING• a month ago
Coded
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Keshinismail• a month ago
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olakunle031009• a month ago
Ok
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Irphilippe• a month ago
Shior
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Fatimabello• a month ago
Ok
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Abiodun• a month ago
Ok
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Iyamahsolomon• a month ago
ok oo
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Raymond• a month ago
OK na
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Nwoguemmanuel77• a month ago
Good
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