As its business combination continues ahead of the April 1 target date, the board of Access Bank Plc, on Monday appointed Mrs. Chizoma Okoli as Executive Director and head of its Business Banking Division.
Okoli, a 1989 law graduate of the University of Benin, was until her latest appointment, Executive Director, Business Development in Diamond Bank, a position she assumed in September 2016.
A statement by Sunday Ekwochi, company secretary at Access Bank to investors through the Nigerian Stock Exchange (NSE) said Mrs. Okoli, who was called to the Nigerian Bar in December 1990, joined Diamond bank in April 1992 as an executive trainee in the operations unit and rose through the ranks, serving in various capacities in the bank.
Reacting to the appointment which has been approved by the Central Bank of Nigeria (CBN), Herbert Wigwe, Group Managing Director of Access Bank, expressed delight at the appointment, especially given her deep banking industry and board room experience.
“Her appointment will no doubt improve the skill set and diversity of our board and support our quest to become the world’s most respected African bank and Africa’s gateway to the world,” he added.
Access Bank Plc recently confirmed receipt the sanction of the Federal High Court for the merger with effect from Tuesday, March 9, 2019, following final approvals of the CBN and the Securities & Exchange Commission (SEC).
Addressing analysts at a conference call for its 2018 full-year audited financials last week, the bank’s management reiterated an earlier assurance that the merger with Diamond Bank would yield stronger earnings and decent numbers expected to support dividend payout.
Still on the merger, the management assured that nothing will go wrong in its combination with Diamond bank, given their experience over the years as experts in the field, notwithstanding the anticipated culture and people issues. Those, they stressed would be overcome by the inherent value proposition of both institutions during the integration process.
Access Bank also assured that the $600m combined Eurobonds of both financial institutions will be repaid.