SUCCOUR is underway for depositors of two failed banks as the Central Bank of Nigeria (CBN) has agreed to pay them N12.1 billion.For now, only private individuals, whose monies are trapped in the distressed Fortune Bank and Triumph Bank will benefit from the apex bank's decision.

INVESTORS' renewed interests in some banks and insurance stocks, yesterday, buoyed the transactions volume of the equities sector, as investors staked a total of N1.48 billion on 306.3 million shares.

In line with the post-listing requirements of the Nigerian Stock Exchange, its council, last week delisted Universal Trust Bank Plc from the daily official list, following the successful take-over of the bank by Union Bank of Nigeria Plc.

The equity markets closed up yesterday as both the NSE market capitalization and All-Share index gained 0.36% each. Though there were equal number of gainers and losers at the NSE, the higher margin in high cap stocks pushed the market to finish positive.

Greenwich Trust Limited was on Monday 16th of February 2008 suspended indefinitely by the Nigerian Stock Exchange for using their logo without getting permission from the management. Greenwich Trust Limited is one of the six market makers approved to provide liquidity in the stock market to enhance recovery from the continued meltdown in the stock prices.