The Nigerian Stock Exchange has de-listed shares of six banks, whose operating licenses were revoked by the Central Bank of Nigeria. The banks had failed to achieve the NGN25 billion (US$194.4 million) minimum capitalization deadline last year. The affected banks are African Express Bank Plc, Gulf Bank of Nigeria Plc, Hallmark Bank Plc, Liberty Bank Plc, Savannah Bank Plc and Trade Bank Plc. NSE’s Director General Ndi Okereke-Onyiuke said the Exchange could not de-list the banks that have merged/acquired or are in the process of being acquired. The de-listing could be done only after it reached an agreement with CBN, National Deposit Insurance Corporation and SEC on the modality of winding up the banks.
