The Central Bank of Nigeria (CBN) has withdrawn the operating licence of Skye Bank.

The Central Bank of Nigeria (CBN) has withdrawn the operating licence of Skye Bank.

Godwin Emefiele, CBN Governor, announced the decision to withdraw the licence on Friday.

According to Emefiele, depositors’ funds are safe.

While the management of the bank has been retained for its impressive performance, the Nigeria Deposit Insurance has been said to have injected N786 billion into the new bank —– Polaris Bank has been established to take up ownership of the assets and liabilities of Skye Bank.

Advertisements

About www.morningstarnaija.com

I am Mbanugo Onyeka Nelson, a media analyst. Let's hit the globe with current news.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.