BREAKING: CBN revokes Skye bank license, announces new owner

The Central Bank of Nigeria (CBN) has revoked the operating licence of Skye Bank Plc, with immediate effect, following its (CBN) decision to pause injection of funds processes in the lender.

 

Governor of the apex bank, Godwin Emefiele, who disclosed this during a press briefing in Lagos on Friday, said that the Bank would now be taken over by Polaris Bank, which would take over all the assets and liabilities of the defunct entity as a bridge bank, ahead of the commencement of the bank’s sale process on Monday.
He said that a N786 billion facility has been injected into the bank by the Assets Management Company of Nigeria (AMCON), as it maintained that customers deposits are safe as management and members of staff will be retained under the new ownership structure.

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