Access Bank Plc., has debunked rumors of its planned acquisition of Union Bank of Nigeria Plc.
Reports had emerged on the social media on Monday that Access Bank Plc., was making moves to acquire Union Bank.
The reports said management of the two banks were already discussing the possibility of the acquisition.
Recall that Access Bank completed its merger with Diamond Bank three months ago.
Access Bank’s denial of the planned acquisition was contained in a notice sent to the Nigerian Stock Exchange, NSE, on Monday.
The notice was signed by the company secretary, Access Bank Plc., Mr. Sunday Ekwochi.
It read: “Our attention has been drawn to recent social media report of Access Bank being engaged in talks to acquire Union Bank of Nigeria.
“The Nigerian Stock Exchange and the general public are hereby advised to discountenance such rumour as same is devoid of truth.
“The bank is not engaged in any discussion with Union Bank of Nigeria or any of its shareholders regarding any such transaction.”
