The Central Bank of Nigeria (CBN) has ordered the Asset Management Corporation of Nigeria (AMCON) to conduct fresh final bids for the sale of Enterprise Bank, following alleged manipulations to favour one of the local banks jostling to take over the bank.
Very reliable sources told our correspondent in Abuja at the weekend that the apex bank doubted the integrity of the process that led to the outcome of the final bids submitted by the five shortlisted financial institutions last month.
It was gathered that some top CBN officials believe that the result of the final bids submitted by AMCON to the CBN Governor was interrupted to favour a particular local bank with strong ties with a former Governor Peter Obi of Anambra State.
This suspicion, sources said, was aggravated when AMCON suddenly changed one of the rules for the sale of the bank shortly after the final bids were submitted.
It was gathered that the result of the final bid submitted by AMCON was inconclusive, with attempt to focus on criteria that would influence the outcome in favour of the particular bank.
Until the present scheming, sources had told our correspondent that Heritage Bank was the favoured bride to take over Enterprise Bank by AMCON in view of what the source alleged to be the strong South-south connection involved in the newly rejuvenated bank.
However, the Heritage option failed to fly when it was argued that being a young bank itself, it may not be appropriate to hand over Enterprise to a bank that in itself is still trying to establish itself in the Nigerian banking landscape.
With Heritage said to be out of contention, the Fidelity Bank option became the next and surest avenue by those said to be desperate to acquiring the bank.
New Mail Nigeria investigations revealed that three banks, two local and one international banks are currently in top contention for Enterprise Bank.
The two local banks, according to sources are Fidelity Bank and Skye Bank Lagos but the former is said to be using its strong connections to former Governor Peter Obi and other top presidency officials, including those that are allegedly feathering President Goodluck Jonathan’s interest to sway the outcome of the sale in its favour.
Further investigations revealed that the decision of the CBN rattled the board of the bank and this prompted the former governor to visit the CBN Headquarters last week Thursday to argue the case of the bank as the best for Enterprise Bank.
AMCON commenced the sale of Enterprise Bank on September 22nd, 2013 last year when it formally invited interested buyers to express interests in acquiring its 100 per cent stake in the Bank.
The audited financial statement of the Enterprise Bank Group as at 31 December 2012, show that the Group’s Total Assets stood at N263.5 billion, Customer Deposits at N208.4 billion and Total Equity at N31.9 billion
The invitation by AMOCN prompted interests from some Nigerian banks namely Diamond Bank Plc, Fidelity Bank Plc, Sterling Bank Plc, Stanbic IBTC Bank Plc, Standard Chartered Bank, Skye Bank, Heritage Bank Limited and other investment groups.
Others include investors like Taunus Holdings, Sahara Energy, Obat Oil and about 12 private equity firms backed by experienced bankers as well as financial and investment analysts.
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