Following the withdrawal of the
operating licence of Skye Bank Plc, the Central Bank of Nigeria (CBN), in
consultation with the Nigerian Deposit Insurance Corporation (NDIC), has
established a bridge bank known as Polaris Bank, to assume the assets and
liabilities of the defunct bank.
CBN Governor, Mr. Godwin
Emefiele, on Friday, said the strategy was for the Asset Management Company of
Nigeria (AMCON) to capitalise the bridge bank and begin the process of sourcing
investors to buy out Skye Bank.
“By this decision, the licence of
the defunct Skye Bank is hereby revoked.
“We wish to assure all depositors
that under this arrangement, their deposits shall remain safe and that normal
banking services shall continue in the new bank on Monday, 24th September,
2018, to enable customers to transact their businesses seamlessly
““Thus, all customers of Skye
Bank shall be automatic customers of the new bank and their accounts and
records duly purchased by Polaris Bank,” Emefiele explained.
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