Skye Bank is not as bad as CBN’s action portrays – Stock market expert

Skye Bank is not as bad as CBN’s action portrays –  Stock market expert

A stock market expert, Pabina Yinkere, has blamed the Central Bank of Nigeria, CBN, for the fall in Skye Bank’s shares in the stock market.

Read also: Lagos allays civil servants’ fears of cash crunch in Skye Bank

Yinkere, an equity analyst at Lagos-based Vetiva Capital Management Ltd. stated this after the bank’s shares slumped to a 60 kobo low, heading closer to the 50 kobo limit that no Nigerian equity can trade below.

“I don’t see why Skye Bank should be trading at these distressed levels.

“When investors come to realize that the bank is not as bad as the reaction that followed the central bank action, the stock will regain attraction,” Yinkere told Bloomberg in his reaction to Skye Bank’s recent performance on the 171-member Nigerian Stock Exchange All-Share Index since the central bank intervention.


Related Articles

Ex-AIGs sue Buhari over alleged illegal retirement

About 30 Assistant Inspectors General of Police, AIGs, retired in June, 2016, have dragged President Muhammadu Buhari before the National

Patience Jonathan explains how she came about $15m found in her bank account

Former First Lady, Patience Jonathan, has said that $15m found in her Skye Bank account was an accumulation of cash

Democracy Day: Nigeria on recovery path – Speaker Obasa

The Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, has said that Nigeria is on recovery


x

Related Posts

Unlawful detention suit: Ibori gets compensation of Just one pound
Convicted former Delta State governor, James Ibori has won a High Court declaration that he was unlawfully detained by British Home Secretary Amb...
Using food to pay debts By Jide Ayobolu
THE Federal Government said foreign exchange revenue from agric produce export will be used to pay the nation’s debts. Minister of Agriculture...
Tinubu pays for cost of flying Moji Olaiya's body from Canada
Ex-Lagos State governor, Asiwaju Bola Ahmed Tinubu, on Monday, gave the committee for the burial of deceased actress Moji Olaiya all the money ne...
powered by RelatedPosts