What happened to Oceanic Bank shares?

Already, the shares of Oceanic Bank have been delisted from the official list of the Nigerian Stock Exchange (NSE), while shareholders in the enlarged Ecobank will get one share in ETI for every 5.16 Ecobank shares owned. …

What happened Oceanic Bank?

It was listed on the Nigerian Stock Exchange on June 25, 2004. In October 2010, Cecilia Ibru, the former head of Oceanic Bank, was sentenced to eighteen months and ordered to forfeit over US$1 billion for fraud.

Oceanic Bank.

Type Public limited company
Website Website shut down after closure

What is the new name of Oceanic Bank?

LAGOS—The Board of Directors of Oceanic Bank International Plc, Monday, formally handed over the acquired entity to the new owner, Ecobank Transnational Incorporation (ETI), even as it retains its name.

Who bought Oceanic Bank?

Oceanic Bank International was acquired by Ecobank Transnational on Oct 25, 2011 .

Does Ecobank still exist in Nigeria?

The bank currently operates a consolidated on-line, real time branch network in over 600 locations across the country.

Why did Oceanic bank fail?

Oceanic Bank is one of the eight banks that had their management teams sacked by the Central Bank of Nigeria (CBN) in the wake of alleged unethical practices in the industry.

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Which Bank acquired Intercontinental?

Intercontinental Bank became a subsidiary of Access Bank plc, which recapitalized the former and acquired a 75% majority interest in its stock.

What year did Ecobank acquire Oceanic Bank?

On July 30, 2011, Oceanic Bank and Ecobank Transnational Incorporated entered into a Transaction Implementation Agreement, setting out the framework for the Oceanic acquisition.

What is the former name of Ecobank?

Ecobank Transnational Inc. Ecobank, whose official name is Ecobank Transnational Inc. (ETI), is a pan-African banking conglomerate, with banking operations in 36 African countries.

Which banks merged to form Ecobank?

On 30 July 2011, Oceanic Bank and ETI signed a Transaction Implementation Agreement in relation to the Acquisition and recapitalisation of Oceanic Bank. It is envisaged that after the Acquisition ETI will merge Oceanic Bank with Ecobank Nigeria plc (“Ecobank Nigeria”).

What happened to Intercontinental Bank?

Intercontinental Bank plc, commonly referred to as Intercontinental Bank or simply Intercontinental, is a commercial bank in Nigeria. It is now owned by Access Bank plc.

Who is the registrar for Ecobank?

In 2016, Ecobank Development Corporation (EDC) divested from the Registrar business and the company was acquired by Modesty Capital Limited. This led to the renaming of the Company as Crescent Registrars Limited.

What is the code for Ecobank?

The unique Ussd Code for Ecobank is *326#. With this unique Ussd Code for Ecobank, you can make all transactions right on your mobile phone without data!

What happened to Ecobank?

The Securities and Exchange Commission (SEC) has suspended Ecobank Plc from acting as a receiving banker and from all capital market activities.

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Who owns Ecobank Nigeria?

Mobolaji Lawal named Ecobank Nigeria MD as Patrick Akinwuntan retires. Ecobank Group says it has appointed Jubril Mobolaji Lawal as the regional executive and managing director designate of the Nigerian subsidiary, subject to the approval of the Central Bank of Nigeria.