Skye Bank Nigeria
Plc has been rested while Polaris Bank takes over the bank.
CBN Governor and the Managing Director of the Nigeria
Insurance Deposit Corporation (NDIC), Godwin Emefiele made this known today at
a media briefing in Lagos.
He also announced the change in the name of Skye Bank to
Polaris Bank which takes over the bank. He said an injection of N786 billion
has been made into the bank with the Asset Management Corporation of Nigeria
(AMCON) has been directed to commence the sale process of the bank from Monday.
The revocation
of Skye Bank’s operating licence follows the Central bank’s decision to
pause its injection of funds processes in the lender.
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| Gdwin Emefiele, CBN, governor |
The regulators maintain that customers deposits safe as
management and members of staff will be retained under the new ownership
structure.
Meanwhile, the share price of Skye Bank on Friday gained
4.05 percent at 77 kobo.
The stock is expected to be placed on suspension from
Monday in accordance with bridge bank procedures.
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