Nigeria's Skye Bank has won shareholders' approval to raise 50 billion naira ($316 mln) in capital to expand its operations and boost its balance sheet, the mid-tier lender said in a statement on Tuesday.

The Nigerian Stock Exchange has announced that it will be launching an Alternative Securities Market (ASeM) in April 2013 for Emerging Companies with high potential for growth in Nigeria. ASeM will be a specialised board on the Nigerian bourse where small to mid-sized companies can access the capital market under less stringent rules and requirements to raise long term, low cost capital.

The Nigerian Stock Exchange (NGSE) on Tuesday appointed 13 supplementary market markers to deepen activities in the capital market.

The Securities and Exchange Commission (SEC) has suspended Ecobank Plc from acting as a receiving banker and from all capital market activities.