Weather (state,county)

Breaking News

CBN Withdraws Skye Bank’s Operating License


The Central Bank of Nigeria (CBN) has withdrawn the operating license of Skye Bank.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.

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...

Thanks For Reading! Please Support us...

Kevin Djakpor Blog is editorially independent - our journalism is free from the influence of billionaire owners or politicians. No one edits or editor, no one steers our opinion. And unlike many others, we have decided not to put up a paid subscription or paywall as we want to keep our journalism completely Free, Open and Accessible. But the revenue we get from advertising is falling, so we increasingly need our readers to help fund our independent, investigative reporting. Support Kevin Djakpor Blog, click the link below to donate:

CLICK HERE TO DONATE TO SUPPORT KEVIN DJAKPOR BLOG

No comments