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Managing Director and Chief Executive, FirstRand Bank, Sizwe Nxasana, had announced last week that the bank was hoping to acquire Keystone and Mainstreet.
The Assets Management Association of Nigeria, AMCON also recently announced the beginning of the final process for the sale of the banks, which it wholly-owns.
Nonetheless, the National Coordinator, Independent Shareholders Association of Nigeria, Sir Sunny Nwosu, said the announcement was a nullity since the cases relating to the appropriateness of the bridging of the banks are subsisting in courts.
“It is illegal to go ahead (with the acquisition. We should all wait for the court to fully decide on the matter. We will pursue all the cases to logical conclusion. We will even file fresh case against the sales if need be,” Nwosu said.
Nwosu’s contention was echoed by chairman, Standard Shareholders Association of Nigeria, Godwin Anono and President of Professional Shareholders Association of Nigeria (PSAN), Boniface Okezie.
“This is not right. We will file a new case and put it on record that we fight the sale of these banks,” Anono said. — CAJ News.
Online Reporter