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Bank Acquisition: Presidency Queries Lamido Sanusi

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Street Journal’s investigations have revealed an indication that the Presidency has waded into the acquisition of Intercontinental Bank Plc by Access Bank.
It was found out that the Central Bank was queried and a letter was sent to him through the Minister of Finance. Street Journal also gathered that Sanusi Lamido was barred from the ongoing Presidential Business Retreat on Thursday. The retreat is aimed at creating a more enabling environment for the business sector and enhance economic growth.
The merger between Intercontinental and Access Banks was announced recently with the shareholders of the former agreeing. Some discrepancies were however found out especially that the two Group Managing Directors of Access Bank are owing Intercontinental Bank about N 10 billion.

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