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Shareholders protest acquisition of Diamond Bank

Shareholders under the umbrella of the Association of Concerned Shareholders of Diamond Bank have protested what they described as forced acquisition of Diamond Bank by the management of Access Bank.

This is coming barely 24 hours after both banks announced the acquisition deal.

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The protest letter, signed by Chief E. O. Orji and Mazi C Onwunna, was sent to the Nigerian Stock Exchange, the Security and Exchange Commission, the Central Bank of Nigeria and the office of the Vice President.

“We have heard many stories from different quarters including that of the Chairman of the board and the non-executive directors highlighting the accounts of what transpired in the board meetings and have decided to fight this injustice and greed with our last sweat and blood. We will not allow our hard investment to be eroded without fighting”, they said.

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