Niger: Access Bank Maintains Commitment to Philanthropy

Lagos — CHARITY organisations will again be the biggest winners this weekend when Nigeria's largest bank by assets holds an annual polo event at the largest club in Europe.

The event by Access Bank is scheduled for the Guards Polo Club in Windsor, England on the 13th of July.

The fundraiser has become an annual tradition with last year's edition alongside the United Nations Children's Fund (UNICEF) raising US$2,2 million for the UN agency.

It went to the funding of 46 classrooms for some 1 840 children in northern Nigeria.

Over 750 guests, including the Emir of Kano, Sanusi Lamido Sanusi, attended.

UNICEF and Access Bank started their partnership in 2007 and have since rebuilt two schools and supported over 8 000 students through continuous education.

The initiatives are a part of Access Bank's award-winning commitment to social development.

It was also recognised earlier this month, when the Financial Alliance for Women awarded it the 2019 GBA Women's Market Champion Impact Award.

The accolade is in recognition of the opportunities the Nigerian bank provides women.

"Over the years, Access Bank has enshrined women empowerment into its corporate ethos, the recognition by a prestigious body such as the Financial Alliance for Women and the testimonials of our beneficiaries highlight the success of the bank in this area," said Herbert Wigwe, Access Bank Group Managing Director and Chief Executive Officer.

He co-led an acquisition of what was then a small-time bank in 2002, and turned it into the largest in Africa.

Shareholders of Access Bank and Diamond Bank this week approved the merger between the two commercial banks, in a transaction that will leapfrog post-merger Access Bank as Nigeria's largest bank by total assets and one of Africa's largest retail banks.

At separate court-ordered meeting in Lagos, shareholders overwhelmingly approved the merger with Diamond Bank and listing of the scheme shares on the Nigerian Stock Exchange (NSE).

Under the terms of the merger, Diamond Bank will transfer all its assets, liabilities and undertakings to Access Bank.

The entire issued share capital of Diamond Bank shall be cancelled and Diamond Bank shall be dissolved without being wound up.

In exchange, Diamond Bank's shareholders shall receive a cash consideration of N1 ($0,0028) per share and two ordinary shares of the enlarged Access Bank for every seven ordinary shares of Diamond Bank held as at the effective date.

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