CBN takes over Board of Skye Bank

By -
The Central Bank of Nigeria, CBN, has taken over one of the financial institutions in the country,  according to reports.

The Apex bank took over the management of Skye Bank Plc which is believed to be one of the distressed financial institutions in the country.

Following the take over, the Managing Director of the financial institution, Mr. Timothy Oguntayo along with other top management members of the bank  handed in their resignation letters.
The resignation of the top management members of the bank along with non-executive directors is deemed a preemptive step to forestall eventual retrenchment.

An insiders confirmed that the bank has towering bad debt.

The clampdown on the financial institution comes a week after the CBN directed the Chief executive officers and chairmen of banks to publish its financial statement within a stipulated period of time.

Comments

Post a Comment

Post Your Comment

Popular posts from this blog

Democracy or Kleptocracy? See the Trillions stolen in the last 17yrs

By -
Image
  Over N39tn lost in the country’s economy, crude oil theft, official corruption and electoral campaign funding were responsible for a larger percentage of the loss. The exchange rate of N130 to a dollar was used in the conversion of funds under the Obasanjo-led administration while N150 was adopted for those under the Jonathan-led administration, being the average official rates during the tenures. N3tn – NNPC, NPDC unremitted funds Former Governor of the Central Bank of Nigeria, Mr. Lamido Sanusi, now the Emir of Kano, Alhaji Muhammadu Sanusi II, had written former President Goodluck Jonathan, accusing the Nigeria National Petroleum Corporation of failing to account for $49bn revenue, which should have been remitted to the Federation Account. He recently said the corporation could only account for $29bn of the ‘missing’ fund. He said some oil companies paid taxes and royalties in oil, and the NNPC sold this oil on behalf of FIRS. “No reasonable explanation for $20bn (NNPC);  $6bn
Read more

Horror As An Ashawo Chops Off Customer’s Manhood For Refusing To Pay After Action

By -
Image
A man has lost his p*n!s in the hands of a an Ashawo after the angry Lady used a sharp object to cut off the man’s m*****d. A Kenyan man has been left in excruciating pain after his m*****d was chopped off by a an Asahwo for refusing to pay her after passionate s*-x.   The unidentified man is now recuperating in hospital but in serious pain. According to The Standard, the 31 year old victim in the Rift Valley town of Nakuru some 250 kilometres north of Kenyan capital Nairobi was alleged to have picked up the Ashawo along the streets Tuesday at around 4pm and taken her to his room. They later failed to agree on payment leading to the incident.   The incident resulted in an argument leading the lady to pick up a sharp object and chop off the man’s m*****d. Area Chief Stephen Macharia said in the report that a member of the Nyumba Kumi initiative and a taxi driver informed him of the incident. The man was taken straight to the theatre for s
Read more