The Central Bank of Nigeria today sacked the management team
of Skye Bank over capital adequacy issues. The bank’s top executives on
getting wind of their impending sack, resigned en-mass this morning. The
bank’s Chairman, Tunde Ayeni and its Managing Director, led other
executive and non-executive board members to tender their resignation
before the apex bank announced the dissolution of the bank’s management
team this afternoon.
CBN will manage the affairs of the bank for some time. The bank,
according to financial experts, has been distressed for a while.
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