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BREAKING! CBN Withdraws Skye Bank’s Operating License

Farouk Mohammed
By Farouk Mohammed
Published: September 21, 2018
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1 Min Read
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The Central Bank of Nigeria (CBN) has withdrawn the operating license of Skye Bank.

CBN Governor, Godwin Emefile announced the decision of Friday evening in Lagos.

Polaris Bank has been established to assume ownership of the assets and liabilities of Skye Bank.

The Nigeria Deposit Insurance Corporation has injected N786bn in the new bank.

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The management of the defunct bank was however retained for its good performance.

The defunct Skye Bank has been on CBN’s lifeline since July 2016 and the apex bank says it can no longer continue to intervene to keep the balance liquid.

More Details Soon… okay.ng

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ByFarouk Mohammed
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Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article Governor Ambode Directs State Public Works to Fix Lagos Roads in 4 Weeks
Next Article CBN Changes Skye Bank Name to Polaris Bank

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