Twice lucky Access Bank set to cuddle Diamond Bank



Lasun Alagbe

It is another landmark season for stylishly rich Aigboje Aig-Imoukhuede and other big stakeholders at Access Bank as it is set to catch another big fish in the industry.

As if luck is its hidden name, the bank is always ‘at home’ whenever a major bank has to dissolve into another one.

Access Bank first hit a landmark several years ago when it acquired Intercontinental Bank, which ran into trouble following unholy practices that the Central Bank of Nigeria levelled against its owners.

Although there were initial marriage issues in the early days of the acquisition, the bank eventually proved that its coasts are large enough to swallow giants.

That is why many are not too surprised that  it is eager to acquire Diamond Bank as well.

Although the managements of both financial institutions have yet to make official declaration to  this effect, the Central Bank of Nigeria has tactically established that the process is on.

The Director, Corporate Communications, Central Bank of Nigeria, Mr Isaac Okorafor, has said, “We are aware that there have been meetings but we are yet to receive any formal communication from the parties in that respect.”

As the Herbert Wigwe-led financial giant thus prepares to expand significantly, one can only wish them a happy banking polygamy.

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