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Apparently tired of injecting scarce critical life-blood over the past two years, the Central Bank of Nigeria (CBN), on Friday revoked the operating licence of troubled Skye Bank Plc.

The move is coming despite the recent renewal of the appointment of the Mohammad Ahmad and Tokunbo Abiru-led board and management of the bank for another two years.
It is also coming after the board recently assured investors through the management of the Nigerian Stock Exchange (NSE) that its audited financials for 2016 and 2017 have been presented to the CBN for approval, preparatory to being submitted.
CBN Governor and the Managing Director of the Nigeria Insurance Deposit Corporation (NDIC), Godwin Emefiele, disclosed this on Friday at a media briefing in Lagos.

He also announced the change in the name of Skye Bank to Polaris Bank which takes over the bank.
He said an injection of N786 billion has been made into the bank with the Asset Management Corporation of Nigeria has been directed to commence the sale process of the bank from Monday.

https://investdata.com.ng/2018/09/cbn-revokes-skye-bank-licence-directs-amcon-to-begin-sale/#more

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