October 13, 2011

The Bank has notified The Exchange that following its intention to acquire a 75% equity interest in Banque International de Credit (BIC), a leading commercial bank in the Democratic Republic of Congo (DRC); it is pleased to inform The Exchange and the market that, it has received regulatory approvals for the transaction from the Central Banks of both Nigeria and DRC.

Consequently, a Completion Meeting was held on Tuesday, October 11, in Lagos, following which First Bank of Nigeria Plc.’s ownership of BIC became effective.

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