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Stats: 2,250,225 members, 4,931,438 topics. Date: Sunday, 19 May 2019 at 07:33 AM

Open Letter To CBN: Diamond Bank Takeover Is Fraudulent And Desperate Move - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Open Letter To CBN: Diamond Bank Takeover Is Fraudulent And Desperate Move (173 Views)

Skye Bank’s Takeover Saved 6,000 Jobs, N949bn Deposits – NDIC / Shareholders May Lose Over N10 Billion To Skye Bank’s Takeover / Skye Bank Customers Don't Panic - 10 Things To Know About Skye Bank Takeover (2) (3) (4)

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Open Letter To CBN: Diamond Bank Takeover Is Fraudulent And Desperate Move by collybright58(m): 7:50pm On Dec 20, 2018
I am writing this as a Nigerian and expert in business and I'm pained every time something like this is happening and unfortunately we can do little or nothing thing to avert it.

If you are interested in this matter I will like to surprise you that the whole assets of Dimond Bank across the country only worth USD200m, one wonders who did the valuation or how did the valuation was done? Diamond Bank is a quoted company that its share price has been on downward slide for some time now based on INFO that bothers on many factors but takeover with riduculous price and without giving more time for investors is questionable. Another option is to give room for counter offer. In my opinion all options have not been explored to get commensurate measure that will give value to all stakeholders

Looking at it critically as well I don't think CBN is doing enough to restore sound regulatory sanity, proper and transparent procedure should be considered and upheld with unbiased standards. I read in one of the daily when CBN governor said ' we are still looking for investors for defunct Skybank' and I'm wondering why not taking the same measure in this case of Dimond Bank. The planned takeover will make so many employees lost their jobs, assets will be exchanged with riduculous price, huge benefit to beneficiary e.t.c

AMCON is the Assets Management Company of Nigeria- The body acted as the buyer of banks for the Nigerian Government by acquiring the non-performing loans (NPL). I ask: why is AMCON not come to the rescue of this bank at this time and manage the whole process for stability so that many employees who are on the verge of loosing their jobs will be avoided, unless if it does not matter to regulators

Access Bank will be feeling cool at moment for being a beneficiary of faulty takeover arrangements, the same thing happened the last time where Access Bank allegedly owed Intercontinental Bank over N16b naira and the takeover agreement then was around USD50b Naira. The same thing is happening again now. And another issue that came with Intercontinental Bank takeover was the way Intercontinental Bank staff were treated. Those employees are the one that can tell the story.

CBN governor Mr Godwin Emefiele please revisit and review this issues so that more Nigerians will have confidence in the institution and system. You will write your name in the sand of of time if proper things are done properly.
Thank you in anticipation

Re: Open Letter To CBN: Diamond Bank Takeover Is Fraudulent And Desperate Move by agarawu23(m): 8:06pm On Dec 20, 2018
I can't stop thinking of how I will start using Access bank From diamond. I so much love diamond bank and I wish I am rich enough to stabilize them. cry cry

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Re: Open Letter To CBN: Diamond Bank Takeover Is Fraudulent And Desperate Move by Colonelo(m): 8:38pm On Dec 20, 2018
agarawu23:
I can't stop thinking of how I will start using Access bank From diamond. I so much love diamond bank and I wish I am rich enough to stabilize them. cry cry
Walahi I'm in the same shoe with you. I'll move my small cash elsewhere once the merger happens. I so much love diamond bank
Re: Open Letter To CBN: Diamond Bank Takeover Is Fraudulent And Desperate Move by manneger2: 8:42pm On Dec 20, 2018
The cry of someone that is about to loose his job, I feel for u though....
The country is not just working

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