Diamond Bank’s chief executive officer, Uzoma Dozie, confirmed the development in a statement released on Friday.

“With this approval, the bank will cease to operate as an international bank,” Dozie had said.

Moments after the news of the acquisition broke, Nigerians took to the Twitter to air their opinions on the acquisition.

The report stated that the official announcement of the transaction will be made in the course of the week by the Central Bank of Nigeria (CBN).

The development came a week after Diamond Bank announced its decision to drop its international operating licence to focus on national operations following capitalisation issues.

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