CBN has not taken over Skye Bank, new MD assures shareholders

Tokunbo Abiru, managing director of Skye Bank, says the Central Bank of Nigeria (CBN) has not taken over the commercial bank.

Abiru said the bank still belongs to shareholders who have continually invested in the bank over the years, adding that their monies are safe with bank.

Speaking during a courtesy visit to the Nigerian Stock Exchange (NSE) on Friday, Abiru said the bank remains healthy despite the change in management.

“Skye Bank Nigeria has not been taken over by central bank. The bank is still for shareholders,” he said.

After experiencing the influx of customers seeking panic withdrawals, he corroborated the earlier assurance of the bank that funds were safe,

“We wish to assure our customers and stakeholders of the safety of their funds especially given the support of the CBN to the recent change,” the bank said.

The bank’s shares fell by 9.7 percent on Monday, hitting a six-month low following the announcement of CBN’s plan to change top management of the bank.

The bank’s shares continued on the downside on Friday, shedding 8.4 percent on Friday.

In a statement on Wednesday, the apex bank also assured Nigerians that national lenders are in good shape.

“For the avoidance of doubt, the infusion of a new Board and Management for Skye Bank PLC is a proactive regulatory action meant to ensure that the bank does not continue to fail in its relevant prudential ratios,” it said.

“Neither Skye Bank nor any other bank in the industry is in distress.”