Nigerians React To Access Bank Acquisition Of Diamond Bank

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Mixed reactions have continued the acquisition of Diamond Bank by Access Bank, a Nigerian multinational commercial bank, owned by Access Bank Group.

Nigerians React To Access Bank Acquisition Of Diamond Bank

Concise News had quoted a report by TheCable saying that the acquisition of the bank was midwifed by the CBN in a bid to further consolidate the banking industry.

The report stated that the official announcement of the transaction will be made in the course of the week by the Central Bank of Nigeria (CBN).

The development came a week after Diamond Bank announced its decision to drop its international operating licence to focus on national operations following capitalisation issues.

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Diamond Bank’s chief executive officer, Uzoma Dozie, 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.

Moments after the news of the acquisition broke, Nigerians took to the micro0blogging site, Twitter to air their opinions on the acquisition.

Concise News captured some of the reactions below…

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