Skye Bank Shares Crash Further By 8.42%

Skye Bank’s shares on Friday, July 8, slid further by 8.42 per cent on the Nigerian Stock Exchange, NSE, following investors  increased anxiety over the removal of the bank’s board and executive management.

The Central Bank of Nigeria, CBN, dissolved the board and management of the bank on Monday,July 4,  and replaced them with another, a measure it said, was to redirect the bank.

The bank lost 8k to close at 87k per share. The bank’s shares had depreciated by 9.5 per cent on Monday, forcing it to close at 95k per share, NAN reports.

A breakdown of the activity chart on the Exchange showed that investors sold 21.59 million shares of Skye Bank valued at N18.79 million.

Alhaji Rasheed Yussuf, immediate past President, Association of Stockbroking Houses of Nigeria (ASHON), said that the shares of the bank were on offer but nobody was buying. Yussuf implored the new management of the bank to map out strategies to assure and reassure shareholders and investors.

 

 

 

 

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