The Central Bank of Nigeria (CBN), has dissolved the executive board of Skye Bank and has taken over pending when a buyer is found.
It has now been officially confirmed that the Central Bank of Nigeria (CBN), has finally dissolved the board of Skye Bank and has taken over, pending when a buyer is found.
The apex bank reportedly took the decision as Skye Bank has been deemed 'unhealthy' and the step is apparently a measure to prevent a total collapse of the financial institution.
The bank is believed to have an estimated non-performing loan portfolio of N700 billion, much of which is due to an overexposure in the oil and gas sector.
All the directors and executives at the bank who joined last year, have been shown the door while the managing director, Timothy Oguntayo, has already dropped his resignation.
The bank which has been taken over by CBN, will possibly be handed over to the Asset Management Company of Nigeria (AMCON) who would buy up the bank’s toxic loan and then make efforts to recover them from the bank’s chronic debtors.
In a new development, the CBN has appointed Alhaji Muhammad K. Ahmad as the new Board Chairman while Tokunbo Abiru becomes new GMD/CEO.
Are You On youtube? subscribe to Hot GIST Channel Latest Updates - @Hot Gist
Are You On youtube? subscribe to Gospel World (which is also owned by Tony Gists) youtube Channel Latest Updates - @Gospel world
Are you on audio mack? Follow Tonygists on audio mack to listen and download to the latest Mfm sermons Latest Updates - @Tonygists
Follow Tonygists on LinkedIn to get more jobs opportunities Latest Updates - @Tonygists
Are You On youtube? subscribe to Honest Ose Channel Latest Updates - @Honest Ose
Are You On youtube? subscribe to Honest Web Solutions Channel Latest Updates - @Honest Web Solutions
Are You On youtube? subscribe to Xtremely Honest Channel Latest Updates - @Xtremely Honest
Are You On Twitter? Follow Us Now For Latest Updates - @tonygists
Are You On FACEBOOK? Like Our Page For Latest Updates - tonygists
Are You On FACEBOOK? Join Our Group For Latest Updates And Interactions - TonyGists
© 2024 Tonygists | Portions are © 2024 Associated Press. All rights reserved. This material may be published, broadcast, rewritten, or distributed.
Share This Post Via