Monday, July 4, 2016

More Details On CBN Taking Over Skye Bank.


All the directors and executives at the bank save for three executives who joined the bank last year have been shown the door.
Timothy Oguntayo, managing director of Skye Bank, 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.



AMCON would buy up the bank’s toxic loan and then make efforts to recover them from the bank’s chronic debtors.
Sources say Central Bank of Nigeria to lay-off all Skye Bank of Nigeria Directors, except the three execs that joined the lender about a year ago.

According to Channels Television Business Editor, Boason Omofaye, Intercontinental Hotel in Lagos is hugely financed by Skye Bank of Nigeria and the Apex Bank may withdraw franchise.

The Bank's General Managing Director and Chief Executive Officer of Skye Bank PLC, Mr. Timothy Oguntayo has also resigned his position.

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