These are not the best of times for controversial businessman, Jimoh Ibrahim as his Energy Commercial Bank in Ghana has failed to meet the new minimum capital requirement of ¢400 million set by the Bank of Ghana (BoG) with a December 31, 2018 deadline.

We gathered that the bank is planning to merge with First Atlantic Bank and the Bank of Ghana (BoG) has given a “no objection” to the planned merger talks.

Insiders squealed to us that; “This means the discussions can begin having secured all the documents that give more information about the merger between the two banks.”

The “no objection” communication would help the two banks to fast-track the process in meeting the new minimum capital requirement of ¢400 million by December 31 as set by BoG.