• Skye Bank takes over Obat Oil depot over N2.1b debt

    Skye Bank takes over Obat Oil depot over N2.1b debt

    A Federal High Court in Lagos has given Skye Bank Plc the legal backing to take over Obat Oil and Petroleum Ltd’s depot over an alleged N2.1 billion debt.

    Justice Jude Dagat asked the Inspector-General of Police, the Assistant Inspector-General of Police to assist in the enforcement of the order.

    The order followed an Originating Motion by the bank seeking the enforcement of an arbitral award dated Aug. 7, 2015.

    Skye Bank had sought to recover a debt of N2. 1billion owed it […]

  • Skye Bank sacks 50 more workers, 5 months after sacking 175

    Skye Bank sacks 50 more workers, 5 months after sacking 175

    No fewer than 50 persons on the payroll of Skye Bank have been asked to leave the company, newsmen reporting.

    It was reported that the affected employees are in the outsourced and auxiliary functions of the financial institution, which according to a recent report by Bloomberg, was close to being insolvent.

    Reports say the dismissed workers were showed the exit door based on performance, disciplinary issues as well as right-sizing.

    However, the numbers of the affected non-core staff were not stated since they […]

  • CBN approves short term facility for Skye Bank

    CBN approves short term facility for Skye Bank

    The Central Bank of Nigeria (CBN) has affirmed its confidence in Skye Bank Plc., through a guarantee line, which ensures that withdrawals it suffered in the wake of the undue panic recently does not adversely affect its operations.

    This development, analysts believe, lends credence to the regulator’s earlier assertion that Skye Bank is a Strategically Important Bank (SIB), with substantial market share, interconnectedness and significant relevance to the nation’s financial systems stability.

    A leading international news organisation, Bloomberg, reports that the apex […]

  • Skye Bank: Why we struck – CBN shares reasons

    Skye Bank: Why we struck – CBN shares reasons

    The Central Bank of Nigeria (CBN) has attributed its in-tervention in Skye Bank Plc. to the lender’s failure to meet minimum capital ratios.

    Governor of the apex bank, Mr. Godwin Emefiele, disclosed this at a press conference in Lagos yesterday.

    But the new Chairman of the Skye Bank, Alhaji Muhammad Ahmad, has assured the shareholders, customers and depositors of the bank of his com-mitment to preserve their investments and deposits.

    Emefiele explained that Skye Bank’s liquidity and have been below and above the […]

  • Tokunbo Abiru confirmed as new Skye Bank CEO – CBN

    Tokunbo Abiru confirmed as new Skye Bank CEO – CBN

    Mr Tokunbo Abiru has been announced as the new Chief Executive Officer, CEO, of the bank, following the dissolution of the Board of Directors by the Central Bank of Nigeria, CBN

    Governor of the apex bank, Godwin Emiefiele in a press briefing on Monday made the announcement after confirming the resignation of the former CEO, Timothy Oguntayo.

    Emiefiele disclosed that Skye Bank carries quite some huge bad assets that saw the Non-Performing Loans exceeding the allowed 5 percent threshold.

    The apex bank had […]

  • BREAKING News: CBN Takes Over Skye Bank After Dissolution of Management

    BREAKING News: CBN Takes Over Skye Bank After Dissolution of Management

    The Central Bank of Nigeria (CBN), has dissolved the executive board of Skye Bank and has taken over pending when a buyer is found.

    We reported it here earlier today that there is a rumour of an imminent dissolution and takeover of Skye Bank by Central Bank of Nigeria. It has now been officially confirmed by DailyPost that the Central Bank of Nigeria (CBN), has finally dissolved the board of Skye Bank and has taken over, pending when a buyer is […]

  • BREAKING!!! CBN takes over Skye bank

    BREAKING!!! CBN takes over Skye bank

    The Central Bank of Nigeria, CBN, has taken over one of the nation’s commercial banks, Skye Bank pending when a buyer is found. This was after it dissolved the Board of the financial institution.

    New Telegraph reports that the CBN took the decision as Skye Bank has been deemed ‘unhealthy’ and is a measure to prevent a total collapse of the bank.

    The bank is thought to have an estimated non-performing loan portfolio of N700bn, much of which is due to an […]

  • Skye Bank Disregards FG Order, Sacks 175 Workers

    Skye Bank Disregards FG Order, Sacks 175 Workers

    According to reports,Skye Bank Plc, has sacked 175 of its employees despite Federal Government warnings. The bank confirmed the development in a statement through which it explained that the affected workers failed the year 2015 appraisal exercise.

    The statement explained that a combination of factors was taken into consideration in the annual exercise, which ranged from low productivity to disciplinary issues, adding that the affected employees were duly exited in line with the bank’s staff exit policy.

    The statement read in part, “The […]