Breeze Reporters

CBN Withraws Licence Of Skye Bank, Speaks On Customers’ Deposits

The Central Bank of Nigeria (CBN) has withdraw the operating licence of Skye Bank Plc

CBN Governor, Mr. Godwin Emefiele, on Friday, said the strategy was for the Asset Management Company of Nigeria (AMCON) to capitalise the bridge bank and begin the process of sourcing investors to buy out AMCON.

“By this decision, the licence of the defunct Skye Bank is hereby revoked.

Subsequently, following consultation with the Nigerian Deposit Insurance Corporation (NDIC), the CBN has established a bridge bank known as Polaris Bank, to assume the assets and liabilities of the defunct bank.

The CBN governor has assured depositors that under this arrangement, their deposits shall remain safe.

“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,” Emefiele explained.

Adeyemi Olalemi

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