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Nigeria's SEC suspends trading on nationalised banks

LAGOS : Nigeria 's Securities and Exchange Commission (SEC) on Sunday said it had suspended trading on the shares of

Published August 7, 2011 Updated August 7, 2011 03:30pm

1 min

By Muhammad Iqbal

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LAGOS: Nigeria's Securities and Exchange Commission (SEC) on Sunday said it had suspended trading on the shares of Afribank, Spring Bank and Bank PHB, following the nationalization of the three lenders.

SEC also approved a technical suspension on the trading of Finbank, Intercontinental, Oceanic Bank and Union Bank shares, pending the completion of recapitalization deals.

Technical suspension means that trading on the shares can continue without any change in price.

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