Diamond Bank Crisis:Tony Emefiele accused of causing the crisis in Diamond Bank

The last may not have been heard of Diamond Bank acquisition by Access Bankas the Association of Concerned Shareholders of Diamond Bank has vowed to resist the so-called acquisition. 

The Shareholders insist that the acquisition is a smart but greedy move being spearheaded by the Central Bank of Nigeria Governor Godwin Emefelie, using Pascal Edozie and his reckless son, Uzoma Edozie.  The group alleges that Emefiele is desirous of acquiring the bank for self in view of the fact that his tenure will be terminating come June, 2019 and he has offered Billions of Naira to bribe the Edozie’s to enable them hand over the bank to a proxy-bank through which he intends to acquire it.

The shareholders, in a letter addressed to the CBN Governor, EFCC Chairman, ICPC Chairman, President, Vice President, Leadership of NLC, Securities and Exchange Commission, Nigerian Stock Exchange, and Ohaneze Ndigbo, the shareholders alleged that the so-called acquisition was a hoax and a behind-the-scenes arrangement between the Edozie’s and the CBN Governor, Godwin Emefiele.

The group, represented by Chief E. O. Orji and Mazi C Onwunna said that the CBN Governor is desirous of acquiring Diamond Bank through a proxy bank to enable him to retire into affluence he never worked for. The shareholders insisted that Access Bank leadership never approved or sanctioned the so-called acquisition or rumor of acquisition of Diamond Bank.  They alleged that Godwin Emefiele is using his position as the CBN Governor to coerce Access Bank into a transaction they do not intent to go into.

“We, the Association of concerned shareholders of Diamond Bank have confirmed from the Leadership of Access Bank that they did not sanction the ongoing discussion between Pascal Edozie, Uzoma Edozie and the Management of Access Bank over a forced acquisition of Diamond Bank. This is a plot by the CBN Governor, Emefiele to use Access Bank as a conduit to acquire Diamond Bank. His tenure is drawing much closer to an end and he is looking for viable investment opportunity to retire with. We will not allow our hard investment to be eroded without fighting.

“Pascal and his son’s greed is the only reason for allowing Access Bank take over and not the interest of all stakeholders including the shareholders, Board and staff of the Bank”

“Pascal Edozie took a credit facility from GTBank in his personal capacity (Not the BANK) to buy back the shares of Actis just for his son to be CEO of the bank. He also failed to pay back the loan upon maturity and restructured through Access Bank and now we are here, he wants to mortgage the lives of thousands of people just because of selfish reasons. We will resist all attempt for this deal to sail through”.

“We have also gathered from a reliable source that Emefiele has promised Uzoma Dozie and his Father a sum of One billion naira and Seven hundred and fifty million naira (N1bn & N750m) respectively for facilitating this deal including allocation of shares in the new Bank.

This is after the Son has run down the Bank with his blatant incompetence and lack of strategy. Shares of the Bank was about N7 (Seven Naira) when the previous GMD left but has falling to about 60 -70 kobo today. We have not collected a dime in the last 4 years as dividend and now Pascal Edozie and his wasteful son are planning to sell the Bank for their own selfishness. This is so sad and we will not allow it to happen”

“They are tactically using the young company secretary Uzo Uja to altering the board minutes of meetings in order to suppress information. We have consulted our Legal team and will soon charge the company secretary to court”

“We wish to appreciate and commend the bravery of the Chairman of the Board, Mr Seyi Bickerstheth and other directors who are standing in the interest of the shareholders and the staff of the Bank”.

“We will also like to assure the staff of the Bank that Diamond Bank is a very good brand and will not be allowed to sink. Talks are ongoing with Calyle Group to raise more capital, New Management will resume on January 3rd 2019, and we are confident that
the share price will rise up to N5 in the next one year”

“We have secured an appointment with the Vice President Osinbajo and will be making our presentation to him of the events in the last 4 years since Uzoma became the CEO of the Bank. We will also share with the Vice President how the Edozies have consistently stifled recapitalizing of the bank by Calyle Group, thereby discouraging foreign investors who are willing to invest in the bank”.