Access Bank refutes Union Bank Acquisition rumour


Africa’s largest lender by customer base, Access Bank Plc, has reacted to media reports that it is planning to acquire Union Bank of Nigeria Plc less than six months after acquiring Diamond Bank Plc.

In a statement published on the Nigerian Stock Exchange (NSE) and signed by the Company Secretary, Sunday Ekwochi, Access Bank urged its customers and the general public to ignore the report as there’s no truth in the assertion.

Access Bank went further to state that there is no on-going discussion with Union Bank or any of the company’s stakeholders with respect to acquisition plans.

“Our attention has been drawn to recent social media report of Access Bank Plc is engaged in talks to acquire Union Bank of Nigeria Plc.

“The Nigerian Stock Exchange and the general public are hereby advised to discountenance such rumour as same is devoid of truth. The Bank is not engaged in any discussion with Union Bank of Nigeria Plc or any of its shareholders regarding any such transaction.” Access Bank said in the statement.”

Samson Oyedeyi

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