Skye Bank Gets New CFO As NSE Investors Hit 850m Shares


SKYE-BankSkye Bank has notified The Nigerian Stock Exchange (NSE) of the resignation of its CFO, Mr. Bamidele Ogunnaike effective 31 August 2015, while the board of the bank has approved the appointment of Mr. Pius Olaoye as its new CFO effective 1 September 2015.

Skye Bank, in a note to the Exchange, states that Pius Olaoye has the requisite skills and knowledge, related experience, and the understanding of the CFO role.

He has been in the Financial Control Department of the bank within the last 10 years and was the deputy to the outgoing CFO between 2006 and 2012. He was re-assigned to the Central Processing Centre (CPC) in May 2012 as the pioneer Head, to set-up the operations.

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Prior to his appointment as CFO, Pius Olaoye was the Head of the bank’s Performance Management where he successfully instituted a more stringent and transparent performance management framework for the Bank.  He also worked closely with the outgoing CFO and is conversant with all regulatory reporting requirements, the financial systems and records of the bank.

Meanwhile, The Nigerian Stock Exchange  (NSE) had a three-day trading week as the Federal Government of Nigeria declared Thursday 24th and Friday 25th of September, 2015 as public holiday in commemoration of the Eid-el-Kabir Sallah celebration.

Meanwhile, a turnover of 850.095 million shares worth N9.060 billion in 9,414 deals were traded this week by investors in contrast to a total of 1.384 billion shares valued at N13.862 billion that exchanged hands last week in 17,984 deals.

The financial services Industry led the activity chart with 726.294 million shares valued at N6.058 billion traded in 5,086 deals; thus contributing 85.44 per cent and 66.87 per cent to the total equity turnover volume and value respectively.

The consumer goods industry followed with a turnover of 38.681 million shares worth N1.790 billion in 1,895 deals. The third place was occupied by the conglomerates Industry with 37.874 million shares worth N224.698 billion in 538 deals.

Trading in the top Three Equities namely – Zenith International Bank Plc, United Bank for Africa Plc and Sterling Bank Plc(measured by volume) accounted for 334.012 million shares worth N3.674 billion in 1,472 deals, contributing 39.29 per cent  and 40.56 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 11,454 units of Exchange Traded Products (ETPs) valued at N449,180.74 executed in 13 deals compared with a total of 1,189 units valued at N1.282 million transacted last week in 24 deals.

The NSE All-Share Index and Market Capitalization appreciated by 0.69 per cent to close on Friday at 30,543.17 and N10.497 trillion respectively.

Similarly, all the Indices finished higher during the week with the exception of the NSE Banking and NSE Pension Indices that shed 0.66 per cent and 0.28 per cent respectively, while the NSE ASeM Index closed flat.