Access/Diamond one step away from conclusion of merger

, Magazine

In separate notices sent to the Nigerian Stock Exchange (NSE) today, Access Bank and Diamond Bank both announced they had obtained final approval from the Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC) to the proposed scheme of merger. 

What next? : The Scheme is subject to the judicial sanction of the Federal High Court.

Concluded steps: Shareholders of both lenders approved the merger at Extra Ordinary General Meetings (EGMs) held on the 6th of March, 2019.

Terms of the merger 

Access bank closed at N5.80 in today’s trading session on the NSE, down 2.52%. Diamond Bank closed at N2.45, down 1.61%.