CBN Injects 786BN into former Skye Bank, Changes Name to Polaris Bank

A new Bank, Polaris Bank has been licensed to assume ownership of the assets, all deposit liabilities and some other liabilities of Skye Bank.

CBN Injects 786BN into former Skye Bank, Changes Name to Polaris Bank

The CBN Governor, Godwin Emefiele announced that it has withdrawn the operating license of Skye Bank Plc.

The decision was taken on Friday evening in Lagos wherein he noted that depositors’ funds remain safe.

The existing Board, Management and Staff of the defunct Skye Bank has been retained for its good performance whilst the CBN also assures depositors and customers of the safety of their funds.

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About the Author
Philomena  Ngozi Christopher-Oji was born to the family of the late Michael and Cecilia Ojeogwu of Ubulu-Uku, in Aniocha South Local Government Area, Delta State. She had her primary and secondary education in Nwanoli and Ezemu Girls College, in Ubulu-Uku, before she proceeded to the Delta State University, Abraka, where she studied English and Literary Studies.

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