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BREAKING News: CBN Takes Over Skye Bank After Dissolution Of Management

The Central Bank of Nigeria (CBN), has dissolved the executive board of Skye Bank and has taken over pending when a buyer is found.

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We reported it here earlier today that there is a rumour of an imminent dissolution and takeover of Skye Bank by Central Bank of Nigeria.
 
It has now been officially confirmed by DailyPost that the Central Bank of Nigeria (CBN), has finally dissolved the board of Skye Bank and has taken over, pending when a buyer is found.
 
The apex bank reportedly took the decision as Skye Bank has been deemed ‘unhealthy’ and the step is apparently a measure to prevent a total collapse of the financial institution.
 
The bank is believed to have an estimated non-performing loan portfolio of N700 billion, much of which is due to an overexposure in the oil and gas sector.
 
All the directors and executives at the bank save who joined the bank last year have been shown the door while the managing director, Timothy Oguntayo, has already dropped his resignation.
 
The bank would be taken over by CBN and possibly handed over to the Asset Management Company of Nigeria (AMCON) who would buy up the bank’s toxic loan and then make efforts to recover them from the bank’s chronic debtors.
 

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16 Comments
  1. Ogunleke teslim opeyemi says

    Make then no shake my money o

    1. Sam says

      abai oo, or else dem go hear am

  2. Idebe Darlington says

    Na WA for all this kind bank sef

  3. chicason says

    just like that. let them refund peoples money ooo.

  4. olan says

    Hehe OK na

  5. Deji says

    Noticed this

  6. Abu says

    Not funny at all

  7. Sharks says

    This is not good

  8. Dotman says

    Hmmm,bad news 4 dm

  9. amazing says

    so it is true

    1. Chikels says

      I think it is

  10. abbey says

    It is well

  11. Niyola jamiat says

    Eeyah tank God have close down myacct sinc 2012 wen dey r unable to renew myAtm I tried to no avail definetly everytin has reason

  12. B.J says

    Okay ooo

  13. sammie says

    Imagine fa

  14. Chikels says

    Nawa ooo

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