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Merger: Access, Diamond Get Final Approval

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Access Bank Plc and Diamond Bank Plc have gotten final merger approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).

The two financial institutions, in separate corporate disclosures issued on the Nigerian Stock Exchange (NSE) at the weekend, confirmed that the approvals have been secured.

“Access Bank Plc is pleased to announce that the bank has received the final approval of both the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) to the proposed scheme of merger between the bank and Diamond Bank Plc,” a statement by Access Bank disclosed.

“The scheme is subject to judicial sanction by the Federal High Court. We will provide further update to the market upon receipt of court sanction of the scheme.”

 

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