The Council of the Nigerian Stock Exchange last Friday approved the listing of 6,617,253,991 ordinary shares of 50 Kobo each of Access Bank Plc resulting from the Scheme of Merger between Access Bank Plc and Diamond Bank Plc.
Subsequently, the 6,617,253,991 ordinary shares of 50 Kobo each of Access Bank Plc were listed making its total issued and fully paid up shares to increase from 28,927,971,631 to 35,545,225,622 ordinary shares of 50 Kobo each, on Monday, 1 April 2019.
Also, the Council On Monday delisted the entire 23,160,388,968 ordinary shares of Diamond Bank Plc from the Daily Official List of The Exchange
The bank opened for operation on Monday, April 1, signaling a new dawn in the efforts at bring the bank of choice in the market.
As already programmed, Diamond Bank’s shareholders will get a cash consideration of N1 per share and two ordinary shares of the enlarged Access Bank for every 7 ordinary shares of Diamond Bank held as at the effective date.
Meanwhile, as Access Bank celebrates the unveiling of its new brand with pomp and splendour as a result of the merger, reactions have continued to pour in from notable Nigerians.
Sanusi Lamido Sanusi, the Emir of Kano and former Governor of the Central Bank of Nigeria (CBN), while reacting to the event, revealed how he visualised the bank making landmark success in the annals of the financial sector owing to its unique strategies. At the event which held on Sunday in Lagos, the Emir of Kano said, ” “In 2006, Access Bank was a third tier bank. But I told everyone to watch out for them.
They were doing things no other bank was doing. Today they are the biggest retail bank in Nigeria.” Corroborating, the Chief Executive Officer (CEO) of Dangote Group, Alhaji Aliko DÃ ngote stated that the reason for supporting the idea of co-founder and former CEO of Access Bank, Aigboje Aig-Imoukhuede, and the current CEO, Herbert Wigwe of setting up a bank was borne out of their courage.
“When AIG and Herbert came to me to say they wanted to start a bank, I thought they were crazy. But I supported them,” Dangote disclosed. “To leave a guaranteed job to try something else in this kind of market is very very tough. I encouraged them because these are the most two aggressive human beings I have ever met,” he continued. Dangote further noted that the combination of Aig-Imoukhuede and Wigwe was instrumental in the birth of the biggest bank in Nigeria, which every Nigerian is proud of.
On his part, CEO of Access Bank, Herbert Wigwe commended the efforts of the staff of the bank as the major catalyst behind success of the new brand. “We couldn’t have done it without the 29,000 people who have been working day-in day-out to build largest retail bank in Nigeria,” he disclosed. In his twitter handle on Monday, Wigwe wrote, “The merger created a Pan-African financial services champion. Access Bank today is the largest retail bank in Africa by customer base. One bank with 28,000 employees across more than 600 branches, spanning three continents, 12 countries and with 29 million customers.”
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