Access Bank Debunked Rumour of Buying Union Bank

This is how it all started last year when the rumour had it that Access Bank will be taking over Diamond Bank. Of course, both party debunked the rumour that time. This time, Access Bank debunked rumour of buying Union bank.

Access Bank in a prompt disclosure sent to the Nigerian Stock Exchange, NSE, on Monday said it has not entered into any such discussion with Union Bank or any other institution.

The disclosure signed by the General Secretary of Access Bank, Mr Sunday Ekwochi said the bank would not go ahead with such corporate action without appropriate disclosure to relevant authorities.

In response to the rumour, Access Bank issued a disclaimer that reads ‘The attention of Access Bank Plc has been drawn to the rumour on social media stating that the Bank is purportedly in discussions with Union Bank Plc to acquire the Bank.

“As a publicly quoted company built on best practice, the bank is fully cognizant of its disclosure obligations in respect of any such corporate action and will always discharge its obligations in the most professional manner,” the disclosure said.

‘‘Consequently, any such statement regarding any such corporate action that is not issued by the bank should be disregarded’’.

The bank also warn the general public to disregard such rumour. Access Bank buys Union Bank? No no for now.

Oluwaseun Hephzibah, Babatunde

I'm an entrepreneur, Tech Enthusiast, IT Consultant and guitarist. I'm a great motivator and I can push you to achieve your dream. ------------------------------------------------------ email: babatundeseun2014[at]gmail.com

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