CBN Revokes Skye Bank’s Operational Licence As Polaris Bank Takes Over

The Central Bank of Nigeria (CBN) has revoked the operating licence of Skye Bank Plc with immediate effect.

Governor of Central Bank, Godwin Emefiele, disclosed this during a press briefing in Lagos on Friday.

He said that Skye Bank would now be taken over by Polaris Bank, which would take over all the assets and liabilities of the defunct entity.

The CBN governor also announced the injection of a fresh N786 billion into bank, while the Asset Management Corporation of Nigeria (AMCON) has been asked to immediately commence the sale process of the assets of the defunct bank from next Monday.