CBN takes over Skye Bank Plc, moves to sack major directors

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The Central Bank of Nigeria is set to partially take over the Skye bank of Nigeria Plc by dissolving the board of management.

Sources say Central Bank of Nigeria to lay-off all Skye Bank of Nigeria Directors, except the three execs that joined the lender about a year ago.

According to Channels Television Business Editor, Boason Omofaye, Intercontinental Hotel in Lagos is hugely financed by Skye Bank of Nigeria and the Apex Bank may withdraw franchise.

The Bank’s General Managing Director and Chief Executive Officer of Skye Bank PLC, Mr. Timothy Oguntayo has also resigned his position.

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