Tuesday, December 05, 2006

SLYE BANK

Bought shares worth six figures (Naira) from a Nigerian bank in 2004. The bank known for its Prudent nature called it a private placement meaning existing account holders had first option to buy before the shares went public. Then it went public. The bank now the major player in the new Mega? Bank known as Skye Bank, finally this year, began to issue certificates, claiming the shares had doubled in value.

So I went to pick up my certificate and was glibly told that because the bank had gotten a new name, they were recalling their shares certificates with the old prudent name and issuing certificates as Slye, sorry Skye bank.

Up until this moment, more than 2 years on, no certificates, and certainly no money, so you cant trade with the shares or just take your money and run.

Nice one, Slime Bank.

2 comments:

Mona said...

hmm uve just changed my perception of skye

laspapi said...

mona,
The excesses of oganizations like this trouble me.