Connect with us

Ngyab

BREAKING: CBN Takes Over Skye Bank Of Nigeria

Business

BREAKING: CBN Takes Over Skye Bank Of Nigeria

The Central Bank of Nigeria (CBN) has revoked the licence of Skye Bank Nigeria Plc.

CBN Governor and the Managing Director of the Nigeria Insurance Deposit Corporation (NDIC), Godwin Emefiele, disclosed this on Friday at a media briefing in Lagos.

He also announced the change in the name of Skye Bank to Polaris Bank which takes over the bank.

RELATED:  Beware!! The Commercial Sale Of TStv Decoders Has Not Commenced

He said an injection of N786 billion has been made into the bank with the Asset Management Corporation of Nigeria (AMCON) has been directed to commence the sale process of the bank from Monday.

RELATED:  FinMinNigeria: Finance Ministry Hands Over Proceeds Of Sukuk Bond To Ministry Of Works (Photos)

The revocation of Skye Bank’s operating licence follows the Central bank’s decision to pause its injection of funds processes in the lender.

The regulators maintain that customers deposits safe as management and members of staff will be retained under the new ownership structure.

RELATED:  Uganda Monitor Publications General manager, Richard Senkwale Resigns From Office

Meanwhile, the share price of Skye Bank on Friday gained 4.05 percent at 77 kobo.

The stock is expected to be placed on suspension from Monday in accordance with bridge bank procedures.

Continue Reading
You may also like...

David Chris is writer and a staff at Ngyab.com. He is also an internet guru who who loves reading and making new friends

Click to comment

Leave a Reply

Your email address will not be published.

More in Business

Advertisement

NIGERIAN MUSIC

Nigerian Music

Davido Ft. Peruzzi & DMW – Twisted

By October 19, 2018

Nigerian Music

VIDEO: Davido Ft. Peruzzi & DMW – Twisted

By October 19, 2018

Nigerian Music

Davido X Tekno – I Fear

By October 19, 2018

Nigerian Music

Reminisce – Burushaga

By October 18, 2018

Entertainment News

Advertisement

FOLLOW US ON FACEBOOK

To Top