Shareholders Approve Access/Diamond Bank Merger.

By Uche Nwosisi.

Shareholders of Access and Diamond banks on Tuesday March 5, 2019 approved the merger between the two lending entities after a meeting in Lagos.

The Security and Exchange Commission, SEC and the Central Bank of Nigeria, CBN had earlier approved the merger between the two entities last year.

All merger process is expected to be completed by March 31 and the new entity emerged by April 1, the bank said.

According to Access bank Group Managing Director, Herbert wigwe both banks are recognized as retail bankers that have benefitted customers and ensured returns to shareholders.

Access bank, Wigwe said has put in place a strong team to ensure that all debts were recovered , noting that the merger would allow Access bank to accelerate its prospect of becoming the leading retail bank in Nigeria and Africa.

Access bank and Diamond bank share similar values, the merger between the two banks is expected to create one of Nigeria’s leading bank.