Business

September 21, 2018

Breaking: Skye Bank’s operating licence revoked by CBN

Ikonne

The Central Bank of Nigeria has revoked Skye Bank’s operating licence.

The Nigeria Deposit Insurance Corporation, NDIC created a bridge bank named Polaris Bank to assume assets and liabilities of Skye Bank.

The bridge bank will inject N786bn to recapitalise the bank and return it to stability and profitability before selling to interested investors