Gold Silver Reports – The NSE (Nigerian Stock Exchange) has notified the dealing members and the investing public that the shares of Skye Bank Plc will be Declined from trading on the floor of The Exchange effective Monday, 24 September 2018.
The NSE in a statement signed by the Head, Corporate Communication, the Nigerian Stock Exchange, Mr. Olumide Orojimi said the action was taken following the regulatory action of the Central Bank of Nigeria revoking the banking license of Skye Bank and in exercise of the powers of the Exchange pursuant to the Rules on Suspension of Trading in Listed Securities, Rulebook of The Exchange (Issuers’ Rules).
He assured depositors of the defunct Skye bank that their deposits are safe and that they should not panic if they go to their branches on Monday to discover that it has now been rebranded as Polaris Bank.
Emefiele explained that the strategy is that like it did in August 2011 when it acquired some struggling banks, AMCON will similarly take over Polaris Bank by injecting N786bn into the bank to recapitalise and then begin the process of searching for investors that will be willing to buy the bank. -Consequently, AMCON will inject N786 billion into Polaris Bank to bring it’s net value to zero. (NAN) – Neal Bhai Reports
