Access Bank Acquires Diamond Bank..

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Access Bank Acquires Diamond Bank..

This is coming after Diamond Bank announced its decision to drop its international operating licence, to focus on national operations following capitalisation issues. Sources alleged that the acquisition was midwifed by the CBN in a bid to further consolidate the banking industry.

Uzoma Dozie, Diamond bank’s chief executive officer, who confirmed the development in a statement released on Friday, said;

“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 banking market, and the economy as a whole.

“The move follows Diamond Bank’s decision to sell its international operations, which included the disposal of its West African Subsidiary in 2017 and Diamond Bank UK, the sale of which is currently in its final stages.

“The change to national bank status also enables the bank to maintain a lower minimum capital requirement of 10 per cent, as against 15 per cent required for international banks.”

Reports of Access Bank acquiring Diamond Bank is coming, after Diamond bank recorded its worst month on record in November with share plunging to 0.61k per unit on November 30, 2018.

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PROFILE OF IKECHUKWU ANYANWU Ikechukwu Anyanwu is an Imo State born Nigerian. An Author, Public Speaker, Humanitarian, Blogger, Media Guru and Start-up Coach. He has inspired millions through Arise Africa Network Platform He Is Into Education, Media, Entertainment, Showbiz and Hospitality Industry. Having calved a nitche for himself as a leadership expert, human capital development and management consultant. He is currently the Chairman, Online Media practitioners Association of Nigeria, Imo State Chapter. Ceo Arise Africa Magazine, Founder Arise Africa Network – a non-profit organization. Face of Arise Africa, Managing Consultant GCFN Consult. Member, Imo State Bloggers Association. Ag National President, Association of Pageant CEO’s of Nigeria Human Resource Specialist and Leadership Coach with astute impact on many seeking to maximize their skills, intellectuals and innate potentials He has a track record of reproducing leaders and helping them to gain dominance within their nitch. Mr Anyanwu after a rich career that spanned for 18 years having worked as Human Resources Manger, Outlet Manager Rennys Foods Limited from 2004 – 2019, Management Consultant for various Quick Service Restaurants in Abuja, Enugu, Rivers State, Abia, Ebonyi, Kogi and Imo State is now focusing on helping young people to discover, develop their talents. He has built lots of platforms for young people of Africa to express their talents. He is passionate about writing, consulting, coaching and training. He blogs regularly via www.ariseafrika.com and has a thriving social media followership. He is a graduate of Sociology/Anthropology, Imo State University whose passion is to impart knowledge by educating, equipping and empowering young minds for the future. He is an alumni of Living Word Training Center He is also the West African Representative of All African Media Networks He is married to Mrs Carol Anyanwu and blessed with 3 sons.

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