CBN Denies Liquidating Skye Bank

CBN Governor, Godwin Emefiele
CBN Governor, Godwin Emefiele

The Central Bank of Nigeria, CBN, has urged customers and other stakeholders of Skye Bank and the general public to disregard any message saying that the bank has been liquidated.

This is according to a statement by the CBN Acting Director, Communications, Isaac Okorafor.

Okorafor said the rumuors were baseless and malicious.

He said, “The CBN wishes to state, and emphatically so, that it has not liquidated Skye Bank or any other Deposit Money Bank for that matter.

“The bank also wishes to reiterate its earlier assurance that Skye Bank is not in distress and remains a healthy bank in the Nigerian banking system.

“Indeed, the health of the Nigerian banking system remains strong; all banks in Nigeria are safe and depositors have no cause to fear over their deposits.’’

The CBN spokesman stated that Skye Bank had corporate governance challenges which had been resolved by the apex bank CBN.



    The CBN had on Monday, July 4 took over the Board and management of Skye Bank Plc after it failed to meet the regulator’s minimum key liquidity and capital adequacy ratios.

    Godwin Emefiele, governor of the apex bank announced the appointment of a new board and management for the bank following the resignation of the Chairman, Tunde Ayeni, and Management Director/Chief Executive Officer, Timothy Oguntayo.

    Emefiele said the CBN had appointed MK Ahmad as the new chairman, while Tokunbo Abiru is the new MD/CEO.

    “I maintain that Skye Bank is not in distress. We have only taken this unavoidable decision to ensure that depositors’ funds are not eroded,” Emefiele had said.

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