Monday, 4 July 2016

CBN Takes Over Skye Bank

According to reports gathered from Punch , The Central Bank of Nigeria (CBN) has taken over the Board and management of Skye Bank Plc after they failed to meet the regulator’s minimum key liquidity and capital adequacy ratios, PUNCH reports.
CBN governor, Godwin Emefiele made this known at a news conference at the apex bank’s head office in Lagos on Monday.
He said that the CBN had appointed a new management following the resignation of the Chairman, Tunde Ayeni, and Managing Director/Chief Executive Officer, Timothy Oguntayo.
The CBN appointed M.K Ahmad as the new chairman, and Tokunbo Abiru as the new MD/CEO.
According to PUNCH, Emefiele said that the bank’s management has failed to turn the fortunes of the bank around despite several warnings from the CBN.
Emefiele also urged shareholders and customers of the bank to remain calm, stressing that the bank was not in distress.
“I maintain that Skye Bank is not in distress. We have only taken this unavoidable decision to ensure that depositors’ funds are not eroded,” he said.

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