The Central Bank of Nigeria has taken over the Board and management of Skye Bank Plc after the bank failed to meet the regulator’s minimum key liquidity and capital adequacy ratios.
This was disclosed at a news conference, which was held at the CBN’s head office in Lagos by the Central Bank Governor, Mr. Godwin Emefiele.
Emefiele said the apex bank had appointed a new board and management for the bank following the resignation of the Chairman, Chief Tunde Ayeni, and Management Director/Chief Executive Officer, Mr. Timothy Oguntayo.
He said the bank’s outgoing board and management had failed to turn the fortunes of the bank around despite warnings from the apex bank.
Alhaji MK Ahmad was appointed as the new chairman, while Mr. Tokunbo Abiru is the new MD/CEO.
The governor also said the CBN had removed and replaced all the non-executive directors and two longest-serving directors of Skye Bank.
The CBN boss urged shareholders and customers of the bank to remain calm, stressing that the bank was not in distress.