Oguntayo resigned on Monday, in anticipation of CBN’s decision.
A senior official at the apex bank told newsmen on Monday that the sack was already in effect, adding that it was due to the capital issues casting doubts over the future of the bank.
In June, Standard and Poor’s downgraded Skye Bank’s rating to “CCC+” from “B-“, based on liquidity issues and capital adequacy.
“We anticipate deterioration in Skye Bank’s asset quality metrics and profitability, which we think will markedly diminish the bank’s capital adequacy relative to the regulatory minimum and heighten refinancing risks,” the rating agency said.
“Consequently, we are lowering our global scale ratings on Skye Bank to ‘CCC+’ from ‘B-‘ and our national scale rating to ‘ngB+’ from ‘ngBB’ and placing them on CreditWatch with negative implications. The CreditWatch reflects our concerns over Skye Bank’s compliance with regulatory capital adequacy minimum and the confidence sensitivity of its funding base.”
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The board and management of the bank were sacked by CBN, the bank shareholders should take a bold step further by asking the formal board on what really happen. Mr. Tunde Ayeni was very active some years ago buying moribund govt investment and equally donating huge sum of money in billions to political party's campaign and construction of their hq in Abuja, so when private business owners engaged in frivolous selfish spending for personal gains it automatically affect others interest. Business should he treated as such and politics as politics.
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