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Access Bank, Diamond Bank Deny Talks Of Merger And Acquisition

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The management of two of Nigeria’s foremost banks, Access bank and Diamond bank have reacted to the rumour of on-going merger and acquisition talks between both banks.

The two banks in separate statements on Monday, denied any form of talk on merger or acquisition between the them.

Mr Uzoma Uja, Diamond Bank’s Company Secretary, said it was not in discussion with any financial institution at the moment on any form of merger or acquisition.

“We wish to state categorically that the bank is not in discussion with any financial institution at the moment on any form of merger or acquisition.

“We trust that the above clarifies the position of the bank with regards to the rumour on the various media platforms,” he said.

Similarly, Mr Sunday Ekwuochi, Company Secretary for Access Bank, disclosed that the bank is not in any form of merger/acquisition discussion with Diamond Bank or any other institution.

“As a publicly quoted company built on best practice, the bank is fully cognisant of its disclosure obligations in respect of any such corporate action and will always discharge its obligations in the most professional manner.

“Consequently, any statement regarding any such corporate action that is not issued by the bank should be disregarded,” Ekwuochi said.

Naija News recalls that prior to the clarification fromboth banks, social media and certain media sources have been awash with rumours that Access bank and Diamond bank are in talks for Access to take over Diamond bank.


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Oladipo is a Content Supervisor at Naija News. He has a huge flair for creative writing, loves travelling and gets thrills from learning new things.




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Last Modified: 16 July, 2019 at 9:45 am