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Home Industries Company News

Skye Bank Confirm Plans to Raise N30billion

Nairametrics by Nairametrics
August 10, 2015
in Company News
Skye Bank
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SEC advises Afribank shareholders to claim dividends 

2 banks delisted from NSE

  • Nigeria’s Skye Bank is in talks with existing and new investors to raise 30 billion naira ($150.75 million) before year-end to bolster its capital base, its chief executive officer said on Monday.

 

  • CEO Timothy Oguntayo said the central bank was restructuring 27 billion naira short-term loans it made to Nigerian state governments to 20-year maturities, paying a 16 percent coupon.

  • Nigeria’s 36 states have debts of 658 billion naira ($3.3 billion), and one way out of the credit crunch would be for banks to extend the maturity of loans made to them as much as 20 years, one of the state governors has said.
  • Source: Reuters

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