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Nigerian bourse delists Skye Bank, Fortis Microfinance Bank

Defunct lenders Skye Bank PLC and Fortis Microfinance Bank PLC were delisted from the Nigerian bourse Aug. 21 following the central bank's decision to revoke their licenses, Nigeria's Business Post reported.

The delisting of the banks was approved by the National Council of The Exchange May 30, the report noted.

In September 2018, the Central Bank of Nigeria revoked Skye Bank's operating license and established a bridge bank named Polaris Bank to assume the defunct lender's assets and liabilities.