By Lucy Nwachukwu
Abuja – Mr Tiko Okoye, Managing Director, Fortis Micro Finance Bank (MFB) Plc, said the bank had resumed trading of its shares on the floor of the Nigeria Stock Exchange (NSE).
Okoye, told the News Agency of Nigeria (NAN), on Sunday in Abuja that the bank resumed the trading following a short period of technical suspension by the NSE.
According to him, the suspension was due to late rendition of the bank’s 2016 Audited Annual Accounts to the regulatory body.
He said the NSE gave approval for the bank to resume trading of its share in a correspondence referenced NSE/LRD/LE1/09/17 which was addressed to the bank’s Company Secretary in Abuja.
According to Okoye, Mr Godstime Iwenekhai, the Acting Head, Listings Regulation Department, NSE announced the approval in the letter.
He noted that the suspension given to the bank was lifted in line with Rule 3.3, Rules for filing of Accounts and Treatment of Default filing, Rulebook of The Exchange.
NAN reports that Fortis MFB recently submitted its 2016 Audited Annual Accounts to the NSE following the approval of the accounts by the CBN.
The accounts showed that in spite of the harsh economic operating environment, the bank posted positive increases in major facets of its activities in 12 months.