Breaking: CBN takes over board of Skye Bank

The Central Bank of Nigeria, CBN, on Monday, took over the Board and management of Skye Bank Plc after the lender failed to meet the regulator’s minimum key liquidity and capital adequacy ratios.

The CBN Governor, Godwin Emefiele, disclosed this at a press conference, held at the CBN’s head office in Lagos. Emefiele said the apex bank had appointed a new board and management for the bank following the resignation of the Chairman, Chief Tunde Ayeni, and Management Director/Chief Executive Officer, Timothy Oguntayo.