Access Bank has finally acquired Diamond Bank. According to insiders, the official announcement of the transaction will be made in the course of the week by the Central Bank of Nigeria (CBN). The acquisition was midwifed by the CBN in a bid to further consolidate the banking industry, sources informed TheCable. A Diamond Bank official who spoke to TheCable said there was no need for the public to panic as “the bank is in safe hands”. Last week, Diamond Bank announced its decision to drop its international operating licence to focus on national operations following capitalisation issues. Uzoma Dozie, the bank’s chief executive officer, confirmed the development in a statement released on Friday. “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 banki
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