CBN Takes Over Skye Bank

The Central Bank of Nigeria (CBN) on Friday, September 21, revoked the operating licence of Skye Bank Plc with immediate effect.

CBN Governor, Godwin Emefiele, made this known during a press briefing on Friday in Lagos, southwest Nigeria.

According to Emefiele, Skye Bank would now be taken over by Polaris Bank, which would take charge of all the assets and liabilities of the defunct entity.

The CBN maintained that customers’ deposits were safe as management and members of staff will be retained under the new ownership structure, this the governor of the apex bank said was due to the performance of the staff.