Nigeria: Shareholders Approve Citizens Guardian Bank Group's Merger With BankOne Group

The shareholders ofCitizens International Bank Plc,Guardian Express Bank PlcandACB International Bank Plchave approved the merger of their banks withBankOne Group. The merged entity would be known asSpring Bank Plc. The BankOne Group includesOmegabank,Fountain Trust BankandTrans International BankPlc. Under the merger scheme, all the assets, liabilities and undertakings, including real property and intellectual property rights of Guardian Express and ACB are be transferred to Citizens and that the entire share capital of Guardian Express and ACB would be cancelled. NewspaperVanguardreported Guardian Express and ACB would be subsequently being dissolved without being wound up.