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CBN withdraws Skye Bank’s license.


The Central Bank of Nigeria (CBN) has withdrawn the operating license of Skye Bank.
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However, the CBN Governor, Godwin Emefile, said depositors funds remain safe. Polaris Bank has been established to assume ownership of the assets and liabilities of the bank.
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The Nigeria Deposit Insurance Corporation has injected N786bn in the new bank. The management of the defunct bank was however retained for its good performance.
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The defunct Skye Bank has been on CBN’s lifeline since July 2016 and the apex bank says it can no longer continue to intervene to keep the balance liquid.

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