BEVERLY HILLS, September 21, (THEWILL) – The operational license of ailing lender, Skye Bank Plc. has been revoked by the Central Bank of Nigeria, CBN, Godwin Emefiele, the apex bank’s Governor announced Friday.
Emefiele, who assured the bank’s customers of the security of their deposits, said in consultation with the Nigerian Deposit Insurance Corporation (NDIC), a bridge bank known as Polaris Bank, has been established to assume the assets and liabilities of the defunct bank.
The Governor said N786 billion has been injected into Polaris and that the Assets Management Company of Nigeria, AMCON, will begin the process of selling the bank to private investors.
He said: “By this decision, the licence of the defunct Skye Bank is hereby revoked.
“We wish to assure all depositors that under this arrangement, their deposits shall remain safe and that normal banking services shall continue in the new bank on Monday, 24th September, 2018, to enable customers to transact their businesses seamlessly.
“Thus, all customers of Skye Bank shall be automatic customers of the new bank and their accounts and records duly purchased by Polaris Bank.”
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