The Managing Director and
some top management of Skye Bank of Nigeria today resigned in anticipation of
the planned dissolution of the board and management cadres by the Central Bank
of Nigeria (CBN) which has discreetly worked on removing directors of some
commercial banks that have demonstrated a level of distress in the last few
months. All the non-executive directors of the bank also resigned in anticipation
of a clampdown by the CBN, according to Sahara Reporters.
There was revelation in
November 2015 that at least nine commercial banks led by Skye Bank had issues
with their liquidity and had been ordered by the Central Bank to raise fresh
capital. The resignation of the management at Skye Bank was a pre-emptive
action by the bank to avoid a total clampdown by the CBN as it plans to remove
directors in banks with bad debts in the next few days.
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