CBN withdraws Skye Bank’s license


World Teachers Day Celebration Online Quiz for Nigerian Teachers (Win FREE N500 Airtime) – Click Here to Participate for FREE!

The Central Bank of Nigeria (CBN) has withdrawn the operating license of Skye Bank.

CBN Governor, Godwin Emefile who announced the decision on Friday evening in Lagos said depositors funds remain safe.

Polaris Bank has been established to assume ownership of the assets and liabilities of Skye Bank.

The Nigeria Deposit Insurance Corporation has injected N786bn in the new bank.

Read Also  GDP Growth Doubles In Q3, Hits 1.4%

The management of the defunct bank was however retained for its good performance.

Download e-books for education and research for FREE - Click Here

The defunct Skye Bank has been on CBN’s lifeline since July 2016 and the apex bank says it can no longer continue to intervene to keep the balance liquid.

Read Also  Ambode presents 2018 Budget on Monday

Details later

Get the latest BREAKING NEWS inside your e-mail address inbox; fill the form below and click the subscribe button
English Premier League – Fixtures, Results and Table - Click Here Nigeria Premier Football League – Fixtures, Results and Table - Click Here

Follow Us on FACEBOOK, TWITTER

Do You Know Nigeria? Attempt 10 simple questions on Nigeria for FREE and Win FREE N500 Airtime – Click Here to Participate!

For your news articles, press release, Breaking News, send e-mail to [email protected]

Click Here to Join Newsnow Nigeria WhatsApp Group for Breaking News Alerts

Read Also  Access Bank, Remita Introduce Salary Advance Scheme (No collateral)

Read Related News....