Nigeria: Court Approves Access Bank's Share Allotment to Diamond Bank's Shareholders

As part of the ruling on the joint petition by Access and Diamond banks towards their planned merger, the Federal High Court in Lagos approved the transfer of all assets, liabilities and undertakings by Diamond Bank to Access Bank.

In a judgment delivered by Justice O.O. Oguntoyinbo on Monday, the court said Access Bank was authorised to issue and allot to all Diamond Bank shareholders two fully paid ordinary shares of 50 kobo each.

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