Access Bank Plc has reportedly acquired Diamond Bank Plc, according to The Cable.
News from some other source confirmed the deal has been sealed, awaiting final ratification from the Nigerian Stock Exchange and other regulatory bodies.
Just Last week, Diamond Bank announced its decision to drop its international operating licence to focus on national operations following capitalisation issues. Uzoma Dozie, the bank’s Chief Executive Officer, confirmed the development in a statement released on Friday. “With this approval, the bank will cease to operate as an international bank”, Dozie said.
The official announcement of the transaction will be made in the course of the week by the Central Bank of Nigeria, CBN.
This is Access Bank’s second acquisition after it 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.