Depositors’ fund with Skye Bank are safe- Emefiele

Depositors’ fund with Skye Bank are safe- Emefiele

Chris Steven, Abuja
The Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, has allayed fears of depositors who have funds with the Skye Bank, saying that their funds were in safe custody.

Emefiele stated this Friday after announcing the revocation of the operational licence of the bank.

He also announced that Polaris Bank has been established to take up ownership of the assets and liabilities of Skye Bank.

While the management of the bank has been retained for its impressive performance, the Nigeria Deposit Insurance (NDIC) has been said to have injected N786 billion into the new bank.

Meanwhile, the Nigerian Stock Exchange (NSE) on Friday officially notified the investing public that Skye Bank Plc shares would be suspended from trading on Sept. 24.

The NSE gave the notice in Lagos in a statement by Olumide Orojimi, Head, Corporate Communications and Godstime Iwenekhai Head, Listings Regulations.

It said the action followed the revocation of the bank’s operational license and added that its decision was pursuant to the “Rules on Suspension of Trading in Listed Securities, Rulebook of The Exchange (Issuers’ Rules).”

It stated that further developments would be communicated as appropriate in due course.