Diamond bank in a statement signed by its Company secretary and legal adviser, Uzoma Uja, stated that the bank is not discussing with any institution for merger or acquisition. “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” the bank said. “We trust that the above clarifies the position of the Bank with regards to the rumor on the various media platforms” the bank further said. The statement is a swift response of the rumours making the rounds that Access Bank is set to add Diamond Bank’s portfolio to its assets in the next few months. According to reports form a Nigerian daily newspaper, talks on the acquisition are on, according to its sources, who said the fusion is set for the first quarter of next year. “It was gathered that both financial institutions have reached an agreement in broad terms on the acquisition. What is left is the valuation of assets, with a view to determining the level of compensation and systems’ integration, the sources said, pleading not to be named because they are not allowed to talk to the media on the matter. The newspaper claimed that the development leading to the impending acquisition was triggered by Diamond Bank directors who approached Access Bank for intervention in a bid to stave off a possible regulatory intervention that could lead to the withdrawal of the lender’s operating licence in the light of the bank’s depleting capital adequacy ratio on account of a huge Non Performing Loans (NPLs) portfolio put at over N150billion” the newspaper firm reported.]]>
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“Order Your Copy Now” — Basil Momodu, Esq. Unveils Second Edition Of His Book, "Civil Procedure In Nigeria"
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[A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials
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______________________________________________________________________ “Bridging Theory And Courtroom Practice” — Hagler Sunny Okorie, Nathaniel Ngozi Ikeocha Unveil ‘Functional’ Tort Law Book For Nigerian Legal System
The book, titled The Law of Torts in Nigeria: A Functional Approach, authored by Professor Hagler Sunny Okorie Ph.D and Ikeocha, Nathaniel Ngozi Esq, offers law students, practitioners, and academics a comprehensive guide to understanding and applying tort law in Nigerian courts. Interested buyers can place orders via the following contact numbers: 08028636615, 08037667945, 08032253813, or +234 902 196 2209.
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“Enhance Legal Practice With Authoritative Reports” — Alexander Payne Offers Comprehensive Law Reports, Spanning Over A Century Of Nigerian Jurisprudence
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