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Skye Bank Licence Has Been Revoked by CBN

Nur'deen Olaitan

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Skye Bank Licence Has Been Revoked by CBN

The licence of Operation of Skye Bank PLC has been revoked by the Central Bank of Nigeria. The commercial bank’s assets and liabilities has been transferred to a newly licensed bridge bank, Polaris Bank Limited.

The reason for the withdrawal is Skye’s bank inability to meet bank minimum liquidity as required by CBN.

The CBN Governor, Godwin Emefiele and NDIC Managing Director, Alhaji Umar Ibrahim disclosed this in a joint meeting. The governor said, the customers of Skye bank has nothing to fear. Their accounts are secured and they can carry on all banking transaction with the bank. So, there is no cause for alarm.

This new development takes effect from today Friday 21st of September, 2018.

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Nur'deen Olaitan, a Linguist from University of Ilorin. Passionate about sport, travelling, writing, & politics. He puts humanity above anyone or anything. He hold honesty and integrity in high esteem.Reach him via nakata@nigeriadailytimes.com

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