CBN takes over Skye Bank

The Central Bank of Nigeria( CBN) has taken over the Board and management of Skye Bank Plc after the lender failed to meet the regulator’s minimum key liquidity and capital adequacy ratios.
The Central Bank Governor, Mr. Godwin Emefiele, disclosed this at a news conference, which was held at the CBN head office in Lagos.
The Chairman, Chief Tunde Ayeni, and Management Director/Chief Executive Officer, Mr. Timothy Oguntayo had resigned bank had appointed a new board and management.
The CBN Governor, Mr. Godwin Emefiele, has urged shareholders and customers of the bank to remain calm.
“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.