Quote:
Originally Posted by faoogoke
The bank was supposed to merge with Afribank but had to chose to be liquidated because of the share exchange ratio Afribank came up with at the tail end of the consolidation excercise.
It is one of the banks CBN/NDIC plan to auction very soon.
|
Actually, it's assets and liabilities (i think) has been acquired by UBA under the P & A scheme of NDIC. This means that former customers of trade bank will have their savings/ monies intact and can continue business as usual with UBA, however for Investors/ shareholders, it's a complete/ total loss of investment. Can someone corroborate this.
Sorry for the bad news