NSE suspends Unity Bank Plc, 5 others from trading – Business

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The Nigerian Stock Exchange (NSE) has suspended trading in the shares of Unity Bank Plc and five others listed companies from the country’s stock market.

The other five listed companies are Fortis Microfinance Bank Plc, Thomas Wyatt Nigeria Plc, Multi-Trex Integrated Foods Plc, Golden Guinea Breweries Plc and Deap Capital Management & Trust Plc.

The companies were suspended for failing to file their accounts as stipulated by the Rulebook of The Exchange.

Godstime Iwenekhai, Head, Listings Regulation Department at the NSE, stated this in a notice posted on the Stock Exchange website on Thursday, November 1, 2018.

Iwenekhai said the suspension will only be lifted upon the submission of the relevant accounts.

Nigerian equities market sheds N109 billion in October

This latest development is coming as profit-taking the lower the Nigerian market by N109 billion in October 2018.

Key benchmark indices at the Nigerian Stock Exchange (NSE) dropped by an average 0.92% in October. The All Share Index (ASI) also declined from its month’s opening index of 32,766.37 points to close the month at 32,466.27 points.

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