Proshare Logo
   Market Date: 29-08-2014   
Agriculture All One Min News Archives Bonds Cap Mkt Sentiments Capital Market CASHLESS NIGERIA Commodities Corporate Earnings Daily & Weekly Market Updates Enterpreneurship ETFs Forex Frauds & Scandals General Global Market Insurance Investors NewsBeat Islamic Finance Mergers & Aquisitions Money Market Mortgage Mutual Funds Nigeria Economy Oil Sector Opinions and Analysis Pensions People Personal Finance Politics Power Products & Services Professionals Property Public Offers Private Placements Regulators REITs Stock PICKS Taxation Telcos Travel & Tours Unlisted OTC MARKET World of Business

CBN Press Release - Speculations on Bids for Rescued Banks - 280311

Category: Investors NewsBeat


  Read (3894)
CBN Press Release - Speculations on Bids for Rescued Banks - 280311

 

 

March 28, 2011
 
 
The Central Bank of Nigeria has noted with concern various speculations and unsavoury comments on the proposed mergers and acquisitions of rescued banks and wish to categorically state that no approval for any Memorandum of Understanding (MOU) has been granted by the CBN so far.
 
Whereas the trend of signing the MOUs is welcome and shows the intrinsic value that investors see in Nigerian banks and the process signals that the solution to the banking crisis is in the horizon; MOU can only lead to actual transaction if and when CBN issues no objection and other regulatory approvals.  The CBN and other regulators will ensure that all relevant factors, including professional advice from the financial advisers are adequately considered before any approval is granted.
 
The process which is being driven by the parties involved and not he CBN will have to be approved by the Board and Shareholders of the banks concerned.  Therefore, all speculations and unsavoury comments on the process are premature and unnecessary.
 
For the avoidance of doubt, the CBN and other relevant regulators will be guided by appropriate considerations including due diligence on investors and the advice provided by Financial Advisers to the parties before approving MOUs and subsequent transactions.
 
(SIGNED)
 
M. M. ABDULLAHI
HEAD, CORPORATE COMMUNICATIONS
28th March, 2011
 

https://www.proshareng.com/investors/company.php?ref=ACCESS

https://www.proshareng.com/investors/company.php?ref=OCEANIC

https://www.proshareng.com/investors/company.php?ref=UBN

https://www.proshareng.com/investors/company.php?ref=AFRIBANK

https://www.proshareng.com/investors/company.php?ref=INTERCONT

 



Tags: , 



Comment With Your Facebook or Yahoo! ID


Latest news


News on Investors NewsBeat

About Us

Who We Are
Our Team & Partners
Corporate Governance
Advertise with Us
Subscribe / Unsubscribe
Site Map
News Feed - RSS
Newsletter
Contact Us
Message from CEO
Resources

News & Features
The Analyst / Market Data
Investor Relations Portal
The Regulator
Economy & Politics
WebTV
Training Portal
Events Calendar
NewsStands - Online Reputation

Products and Services

Research & Market Intelligence
Analyst Services
Offers & Rights Support Service
Investor Relations Services
Alert & Subscription Services
Share Support Services
Proshare Consult
Event & Seminar Coverage
Market Directory
File a Complaint
News & Analysis

#1minNews
News from TheANALYST
Video News from WebTV
Money Market Updates
Opinions & Analysis
Nigerian Economy
Market Data
The Regulator
Newsletters
Discussion Forum
Policy

Subscriber Agreement
Privacy Policy
Data Policy
Disclaimer
Copyright Policy
Trademarks
Comments in Site
Advertising Code
Conflict of Interest
Content Partnership
3rd Parties

Online Trading and Execution
Training
Legal Support Services
Web/Technology Services
File a Complaint