Shareholders of rescued Nigeria's Oceanic Bank on Tuesday approved the planned merger with pan-African banking group Ecobank Transnational Incoporated.
At a court-ordered meeting, the shareholders consented to all the proposal brought before them by the board of the rescued lender.
"Shareholders at the meeting gave their overwhelming support for the board and management to go ahead with the merger deal," Oceanic spokesman Lumuba Igun told Reuters.