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Access Bank sacks 1,500 Intercontinental employees, shuts branches

As a result of the completion of the acquisition of Intercontinental Bank Plc by Access Bank Plc, the bank on Friday terminated the employment of about 1, 500 employees of Intercontinental Bank. Also, it was gathered that the bank shut down some branches of Intercontinental Bank nationwide. A visit by […]

CBN extends deadline for banks to divest from insurance firms

As the May 14, 2012 deadline for Deposit Money Banks to divest from non-banking operations draws nearer, there are strong indications that the Central Bank of Nigeria has extended the deadline by one year for some of the affected banks, which have insurance subsidiaries. The divestment directive is sequel to […]

No documents backed Akingbola’s transfer of N18.6bn – Witness

The Chief Inspector of Intercontinental Bank Plc, Mr. Abdulraheem Jimoh, on Thursday, insisted that an alleged transfer of the bank’s N18.6bn by its former Managing Director, Dr. Erastus Akingbola, was done with no document in the bank’s record justifying it. Jimoh, stated this while concluding his testimony as the Economic […]