NSE delists Skye Bank, Fortis MfB

The Nigerian Stock Exchange has delisted the shares of defunct Skye Bank Plc and Fortis Microfinance Bank Plc from the daily official list of the Exchange.

The NSE issued a statement on Wednesday, notifying dealing members of the delisting of the two banks.

The statement read in part, “Pursuant to Clause 15 of the General Undertaking, Appendix III of the Rule Book of the Nigerian Stock Exchange, 2015 (Issuers’ Rules), Skye Bank Plc and Fortis Microfinance Bank Plc have been delisted from the daily official list of the Nigerian Stock Exchange today, Wednesday, August 21, 2019.”

The NSE added that the delisting of the afore-listed companies was approved by the National Council of the Exchange on Thursday, May 30, 2019.

It said the delisting was in line with the Exchange’s regulatory delisting process as a result of the revocation of their operating licenses by their primary regulator, the Central Bank of Nigeria.

 

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