Just in: Access Bank reportedly moves to buy Diamond Bank

Leaders of Access Bank and Diamond Bank will meet on Monday, December 17, with the Central Bank of Nigeria (CBN) leadership on a possible acquisition deal, Channels Television reports.

Diamond Bank has earlier reportedly stated that it is closing its international operations, adding that it has secured a national license to focus on national operations.

The new deal, if approved by regulators, would allegedly see Access Bank acquire Diamond Bank.

Legit.ng gathers such an acquisition 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.

Source: Legit.ng

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