Access Bank Acquires Diamond Bank

By -
Access Bank has acquired Diamond Bank as confirmed by Cableng, who alleged that the official announcement of the transaction will be made in the course of the week by the Central Bank of Nigeria (CBN).

This is coming after Diamond Bank announced its decision to drop its international operating licence, to focus on national operations following capitalisation issues. Sources alleged that the acquisition was midwifed by the CBN in a bid to further consolidate the banking industry.

Uzoma Dozie, Diamond bank’s chief executive officer, who confirmed the development in a statement released on Friday, said;

“With this approval, the bank will cease to operate as an international bank,” Dozie had said.

“The re-licensing as a national bank supports Diamond Bank’s objective of streamlining its operations to focus resources on the significant opportunities in the Nigerian retail banking market, and the economy as a whole.

“The move follows Diamond Bank’s decision to sell its international operations, which included the disposal of its West African Subsidiary in 2017 and Diamond Bank UK, the sale of which is currently in its final stages.

“The change to national bank status also enables the bank to maintain a lower minimum capital requirement of 10 per cent, as against 15 per cent required for international banks.”

Reports of Access Bank acquiring Diamond Bank is coming, after Diamond bank recorded its worst month on record in November with share plunging to 0.61k per unit on November 30, 2018.


Comments

Post a Comment

Kindly tell us what is in your mind here

Most Read Posts Stories

Cops Who Killed Osaze Osagie, Nigerian Student In US, Cleared Of Charges

By -
Image
State College cops who killed Osaze Osagie, a Nigerian student in the United States, have been cleared of all charges. The police officers had implemented the use of force while serving a mental health warrant that resulted in the death of Osaze Osagie on March 20. According to a the Centre County District Attorney Bernie Cantorna, the officers were in a “life-and-death situation” when they shot Osagie who was approaching them with a 5.16-inch steak knife, Onwardstate reports. Osagie died of multiple gunshot wounds after the confrontation at his apartment on Old Boalsburg Road. No charges will be filed against any of the officers involved in serving the warrant, and none of them were referenced by name by Cantorna. “Given the distance between Mr. Osagie and the officers and the speed at which Mr. Osagie was moving, Mr. Osagie had ample opportunity to seriously injure and potentially kill both officers,” Cantora said in a press conference. “The time that Officer No. 1 shot, there was n...
Read more »

Blac Chyna, 31, grabs her boobs in new photos amidst reports she's back with her 19-year-old boyfriend

By -
Image
Blac Chyna  who is reportedly back with her 19-year-old boyfriend, rapper  YBN Almighty Jay  took to Instagram on Tuesday, August 6, to share these new photos. In the one the images, the mother of two was pictured grabbing her boobs. On Sunday, August 6, Chyna was spotted with her ex-boyfriend YBN Almighty Jay just days after rapper,  DreamDoll  confirmed her split with the 19-year-old rapper. The pair were pictured with a group of friends at The Turkey Leg Hut & Company restaurant in Houston.
Read more »

Egyptian actress, Rania Youssef to face trial for wearing a revealing dress to the Cairo Film Festival

By -
Image
Rania Youssef, an Egyptian actress who wore a revealing dress to the Cairo Film Festival is to go on trial on charges of "inciting debauchery". Youssef appeared in a lacy, black, see-through outfit that exposed most of her legs, outraging many Egyptians, though some said she should be able to wear what she wanted. She could be jailed for up to five years if found guilty, a judicial source told AFP. The 44-year-old said she would not have worn the dress if she had known it would cause such controversy. The charges were brought by two lawyers Amro Abdelsalam and Samir Sabri, who are known for taking celebrities to court.   Youssef's appearance "did not meet societal values, traditions and morals and therefore undermined the reputation of the festival and the reputation of Egyptian women in particular", Mr Sabri told AFP.   The Egyptian Actors' Syndicate also criticised the "appearance of some of the guests", which it said "...
Read more »

Fraudster Exposed By Twitter Users After He Shared Photo Of A Sick Child

By -
Image
Scammer exposed by Twitter users after he shared photo of a sick child and asked for financial support  A man tried to scam well-meaning Nigerians by sharing a photo of a sick child and a fake doctor's report in order to get financial support from Twitter users, but he was busted. The man claimed in his tweet that his sick baby was in the hospital and he needed money to pay her bills. At first, a lot of people were sympathetic and were already asking for his account details. But, some people noticed that the photo he used is the photo of a child who has died since. Doctors on Twitter also noticed that the doctor's report was fake and the words scribbled on it made no sense. They went further to check his account and noticed that he just created the Twitter account last week, specifically to scam people.  Twitter users have taken to the fake page to drag whoever is behind it. See screenshots below.
Read more »

Nigerian Girls Tricked Into Sex Slavery During Russia World Cup Rescued

By -
Image
Over 2000 Nigerian girls who were brought to Russia last year for the FIFA World Cup under the guise of being football fans have been forced into sex slavery, prostitution by the traffickers who brought them into the country. Blessing Obuson, a teenager from Edo state, pictured below was one of them. According to a Reuters report, Blessing Obuson thought Russia’s soccer World Cup would be an opportunity to find a job and flew into Moscow from Nigeria last June on a fan ID. Instead, she found herself forced to work as a prostitute. She said her madam had confiscated her passport and told her she’d only get it back once she’d worked off a fictional debt of $50,000.Obuson told her story to a rare English-speaking client who got anti-slavery activists involved. Two Nigerians were later arrested and charged with human trafficking after striking a deal to sell Obuson for two million rubles (around $30,000) to a police officer posing as a client, according to her lawyer, statements from pros...
Read more »

Canada Government sends message to Igbos living in the country

By -
Image
The Canadian government has sent a powerful message to the members of the Igbo community in the country. Minister of Public Safety and Emergency Preparedness, Honourable Ralph Goodale, wrote to the Cultural Association of Saskatchewan (ICAS) as they prepare to celebrate their Nigerian-Canadian heritage on August 3. Writing on behalf of Prime Minister Trudeau and the Government of Canada, Minister Goodale expressed pleasure to extend greetings to everyone who will be attending Igbo Day.
Read more »

Atiku Finally Gets US Visa, Jets Out Of Nigeria

By -
Image
Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), has finally been issued a visa to the United States. A family source disclosed this to TheCable on Saturday and confirmed that the former vice-president has left Nigeria for the UK, where he will spend some time before flying to the US. The Cable also understands that former president Olusegun Obasanjo played a “critical” role in getting the American government to issue the visa to his former deputy with whom he was estranged for almost 15 years. The trip marks another chapter in the controversy that has rocked the former vice-president for over a decade. Atiku, who is widely travelled, has not been to the US in 13 years, intially fueling speculations that he might be avoiding possible arrest or prosecution. His political opponents had used his absence from the US not just to taunt but to discredit him. His row with the US authorities began after the FBI investigated a bribery scandal involving William Je...
Read more »

Analyst, Financial Operations Needed at MTN Nigeria

By -
Job Title: Analyst, Financial Operations (Supervisory) Location : Lagos Employment status: permanent Department: Financial Operations Job Description To record all company-wide Financial Operations functions – Fixed Assets, Revenue, Expenditure and General Ledger and support various divisions on financial issues. To maintain commercial relationship with suppliers, government agencies, internal and external customers, inter-connect partners, international roaming partners and value added service providers in line with MTN group policies, accounting standards, regulatory and tax requirement pronouncements Provide operational support for the division including maintaining the budget, Profit and Loss accounts, special programs and contract analysis. Analyse the general Ledger transactions (Capex, Opex and Revenue) and all transactions posted into IFS to ensure proper classification and correction, as well as ageing of all Balance Sheet accounts. Prepare trend analysis of Cape...
Read more »

More Stories

Show more