CBN sacks management of Skye Bank, takes over the bank

-


The Central Bank of Nigeria today sacked the management team of Skye Bank over capital adequacy issues. The bank's top executives on getting wind of their impending sack, resigned en-mass this morning. The bank's Chairman, Tunde Ayeni and its Managing Director, led other executive and non-executive board members to tender their resignation before the apex bank announced the dissolution of the bank's management team this afternoon.

CBN will manage the affairs of the bank for some time. The bank, according to financial experts, has been distressed for a while.

Comments

Post a Comment

Popular posts from this blog

TWO MAJOR FACTORS THAT HAS MADE RWANDA THE GIANT OF AFRICA

-
Image
Volkswagen opens Rwanda's first car plant : Rwanda’s first domestically built car rolled off the assembly line at Volkswagen’s   new factory in Kigali on Wednesday as Europe’s biggest carmaker taps into demand for ride-sharing to expand in the region. Despite low levels of car ownership in Rwanda, Volkswagen hopes to both sell vehicles and use them in an Uber-like car-sharing system that will allow people to book rides using their smartphones. Some will also be sold into neighboring nations. Rwanda to open its first smartphone factory: The Minister for ICT and Innovation stated, “Smartphones are important ICT tools since there are some digital services that only require smartphones such as access to land services among others. There is also need to ensure affordability of smartphones whose high cost prevents citizens from benefiting from various digital services. . We hope that the plant to locally produce smartphones will boost access and also economy,” My opin
Read more

Wow, PMB Agrees To Fund GEJ Government's Job Initiative, YouWin

-
Image
The Federal Government is to consult with beneficiaries and other concerned parties on the restructuring and refocusing of the multi-billion Naira Youth Enterprise with Innovation in Nigeria (YouWin) programme, with the objective of injecting new ideas for its sustainability, the finance ministry has said. The programme, initiated by the administration of former President Goodluck Jonathan in 2011 as part of the government’s job creation initiatives, provides grants to about 1200 people to start small businesses each year. It also made provisions for the training of entrepreneurs. A statement from the ministry said 18, 000 young entrepreneurs were trained in various aspects of Small and Medium Enterprises management and business skills; and 3, 900 of them, including 1, 200 women, were each given non-repayable take-off grants for businesses of their choice ranging from N1 million up to a maximum of N10 million. Beneficiaries who were yet to receive payment before the Jonathan
Read more

Oduah - EFCC didn’t find N2.5bn In My Maid’s Account

-
Image
The member representing Anambra North Senatorial District in the upper chamber, Senator Stella Oduah, has described as false and malicious, an on-line media report which alleged that the Economic and Financial Crimes Commission, discovered N2.5bn in the bank account of one of her maids. Oduah, in a statement by her media aide,  Francisca Onyeisi, and made available to our correspondent in Abuja on Monday, maintained that the report was a mere figment of the reporter’s imagination. The statement reads, “We will like to state unequivocally that this report is totally false, baseless and at best the imagination of the platform who is only set out to extort and blackmail leaders in its continuous attempt by their paymasters to break the rank of Senators of the 8th Assembly.” The senator said the report contradicted itself when it claimed that the EFCC operatives said N5.6bn must have been stolen, before claiming that the agency had determined it was N3.6bn and later reduced it t
Read more