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The Securities and Exchange Commission (SEC) has been notified of the proposed merger between Access Bank Plc and Diamond Bank Plc.
Confirming the development on Monday, SEC explained that the agency was aware of the intention of Access Bank and Diamind Bank to go into a merger, adding that “It is a notice to merge, they have not merged yet. SEC is awaiting their application on the matter”
The commission in a statement added: “The SEC received on Monday, December 17, 2018, notice of intention by Diamond Bank & Access Bank to merge. The Commission is currently waiting for their formal Application”.
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