- Diamond Bank Denies Talks About Merger, Acquisition
Diamond Bank Plc has said it is not in talks with any financial institution about merger and acquisition.
The lender, in a statement filed with the Nigerian Stock Exchange on Monday, said its attention had been drawn to a rumor in the media that it was in discussions with Access Bank Plc.
The Company Secretary/Legal Adviser, Diamond Bank, Uzoma Uja, said, “We wish to state categorically that the bank is not in discussions with any financial institution at the moment on any form of merger or acquisition.
Access Bank also said in a statement that it was not being engaged in merger and acquisition talks with Diamond Bank.
Its Company Secretary, Sunday Ekwochi, said, “We wish to notify the Nigerian Stock Exchange and the general public that the bank has not entered into any such discussions 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.”
Last Friday, Diamond Bank said no investors had come forward to inject cash into it and that its board was reviewing all strategic options.
The bank’s comment came after it said last month that four of its directors, including its former Chairman, Oluseyi Bickersteth, had resigned, fuelling speculation that the lender was in talks with a new investor to recapitalise.
The lender, which has been managing its capital since 2016 to ensure it stays within the minimum regulatory ratio, said it would consider raising fresh funds after selling some assets to strengthen its balance sheet.
Remove Face Mask When Using ATM, Banks Tell Customers
Face Mask May Cause ATM Transaction Failure, Banks Tell Customers
Deposit Money Banks have said due to their face recognition technology, customers wearing face masks may experience service failure while using the Automated Teller Machines (ATMs).
In an email issued to customers by Fidelity Bank, the bank said why the use of face mask is important to curb the spread of COVID-19 pandemic, customers should remove when they want to withdraw money from ATMs.
The bank said “Wearing of face masks is a safety and precautionary measure we must all adhere to in this period of the COVID-19 pandemic.
“However, we advise that you remove your face mask while making withdrawals or carrying out ATM transactions to allow our ATM properly recognise you.
“Fidelity Bank ATM machines have face detection features installed to curb incidences of fraudulent ATM withdrawals.
“Consequently, you may not be able to carry out any transaction if our ATMs are not able to properly recognise you. We apologise for the inconvenience that this may cause you.”
Meanwhile, Guaranty Trust Bank plc continues to ease accessibility for all customers and advised customers to protect themselves.
GTBank said, “When visiting any of our branches, kindly protect yourself by wearing a face mask at all times. It is also very important that you keep a safe distance when in a queue inside or outside the branch.
“Before visiting any of our branches, please remember that you can withdraw up to N150,000 at all our ATMs and that you can do most of your banking from the safety of your home.”
Access Bank in Talks to Acquire Cavmont Bank
Access Bank to Acquire Cavmont Bank in Zambia
Access Bank Plc on Wednesday announced that its wholly-owned subsidiary in Zambia, Access Bank Zambia Limited (Access Bank Zambia) is in talks to acquire Cavmont Bank Limited, a subsidiary of Cavmont Capital.
According to the statement signed by Mr. Sunday Ekwochi, Company Secretary, Access Bank and released on the Nigerian Stock Exchange website on Wednesday, the ongoing discussions is to acquire 100 percent of Cavmont Capital’s interest in Cavmont Bank.
However, the lender said “there can be no certainty that a transaction will be agreed, nor as to the terms of any such agreement.
“The completion of a transaction would be subject to formal regulatory approvals. Access Bank will be updating the market as appropriate and in accordance with its disclosure obligations.”
The lender, therefore, advised shareholders to exercise caution when dealing in Access Bank’s securities.
Investors King Ltd note: This announcement further threw more lights on the recent purchases of Access Bank’s shares by Herbert Wigwe, the Chief Executive Officer and Managing Director, Access Bank.
The CEO/MD purchased 7.532 million of Access Bank‘s shares in the last one month.
Mohammed Umar is the New Acting Chairman of EFCC
Buhari Appoints Mohammed Umar as EFCC Acting Chairman
President Muhammadu Buhari has appointed, Mohammed Umar, the director of operations at the Economic and Financial Crimes Commission (EFCC), as the new Acting Chairman of the agency, according to the NAN.
A top official of the commission confirmed to NAN that Umar has taken charge of the agency following the suspension of Ibrahim Magu, the former acting Chairman.
Ibrahim Magu was suspended by the President on Tuesday following series of allegations bordering on frauds, financial misappropriations and abuse of power.
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