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Skye Bank board taken over by CBN

CBN took over the Board and management of Skye Bank Plc after the bank failed to meet the regulator’s minimum key liquidity and capital adequacy ratios

The Central Bank of Nigeria, CBN, on Monday, took over the Board and management of Skye Bank Plc.

The takeover came after the lender failed to meet the regulator’s minimum key liquidity and capital adequacy ratios. 

The CBN Governor, Godwin Emefiele, disclosed this at a press conference, held at the CBN’s head office in Lagos.

The development comes days after the apex bak issued a statement stating that Skye bank is neither distressed not liquidated.

In the statement released last week the CBN had stated:

“The attention of the Central Bank of Nigeria (CBN) has been drawn to the content of a malicious message urging customers of Skye Bank to withdraw their deposits or transfer them to other banks based on the vile allegation that Skye Bank has been liquidated by the CBN. The CBN wishes to state, and emphatically so, that it has not liquidated Skye Bank or any other Deposit Money Bank for that matter.

“The Bank also wishes to reiterate its earlier assurance that Skye Bank is not in distress and remains a healthy bank in the Nigerian banking system.

“Indeed, the health of the Nigerian banking system remains strong, all banks in Nigeria are safe and depositors have no cause to fear over their deposits.

“While it will be recalled that Skye Bank had corporate governance challenges, the CBN has since taken proactive steps to resolve the issues identified.

“Indeed, the CBN is satisfied with the efforts of the new Management to reposition Skye Bank for effective service delivery.

“Accordingly, customers of Skye Bank and other stakeholders are advised to disregard any message purporting a liquidation of the bank.

 

 

 

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