Access Bank’s Acquisition of South Africa’s Bidvest Bank Falls Through Due to Regulatory Hurdles James Emejo in Abuja
Access Bank Plc’s move to acquire South Africa’s Bidvest Bank has hit the rocks due to regulatory hurdles. It was gathered that Access Bank
had actually acquired the bank but had to await regulatory approval from the Central Bank of Nigeria (CBN) as required in the transaction agreement. Though the transaction was not
domiciled in Nigeria, yet approval from the CBN was required in its capacity as the primary regulator of the banking group and holding company. Sources however, told THISDAY
that CBN Governor, Mr. Olayemi Cardoso’s policy of orthodoxy meant that Access Bank must follow the process and duly comply with all forms and substance of regulation. Sources also hinted that Cardoso
was not particularly driven by commercial considerations of both parties, “he is a stickler to process,” he said In the absence of the approval, therefore, the transaction could not
progress, and was subsequently terminated after certain contractual conditions were not met by the Nigerian lender by the agreed Continued on page 8
At NEC Conference Cardoso Declares CBN Reforms Have Achieved Economic Stability... Page 5 Tuesday 10 February, 2026 Vol 31. No 11265. Price: N400
www.thisdaylive.com TR
UT H
& RE A S O
N
Tinubu: Terrorism Giving Nigerians Sleepless Nights, We’ll Overcome Them All Insists security threats unacceptable Protest in Kaduna as bandits abduct Seven
Deji Elumoye, Linus Aleke in Abuja and John Shiklam in Kaduna
President Bola Tinubu, yesterday, painted a gloomy picture of the security situation in the country,
saying terrorism is giving him and other Nigerians sleepless nights. Tinubu, however, was quick to
declare that Nigeria would defeat terrorism and banditry, describing the security threats as unacceptable
and alien to the country’s core values. Speaking while declaring
open the Second National EcoContinued on page 8
Electoral Act: Coalition of CSOs Warns 2027 Elections May Be Compromised Appeal to N’Assembly to adopt real-time transmission of results, pass bill in two weeks Obi joins protesters at federal legislature, Agbakoba backs call for real-time electronic transmission of results in 2027 polls NGE, HURIWA, other groups warn Senate
Story on page 8
NATIONAL ECONOMIC SUMMIT...
L-R: Adamawa State Governor, Mr. Ahmadu Fintiri; Bayelsa State Governor, Mr. Douye Diri; Lagos State Governor, Mr. Babajide Sanwo-Olu; Imo State Governor, Senator Hope Uzodimma; and President Bola Ahmed Tinubu, during the National Economic Summit at the Presidential Villa, Abuja, yesterday PHOTO: GODWIN OMOIGUI.