CBN Changes Board, Management of Skye Bank

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Obinna Chima and Nume Ekeghe

The Central Bank of Nigeria (CBN) on Monday effect changes in key personnel on the board and management of Skye Bank Plc with immediate effect.

With this, the chairman, all non-executive directors on the board as well as the managing director, deputy managing director, and the two longest-serving executive directors on the management team were also removed.

The central bank said it took the decision as a result of the persistent failure of Skye Bank to meet minimum thresholds in critical prudential and adequacy ratios, which has culminated in the bank’s permanent presence at the CBN Lending Window.
…details to follow later