CBN Dissolves Skye Bank Board Over Irregularities, Appoints New Chairman, MD, Others

CENTRAL Bank of Nigeria (CBN) has dissolved the board and management of Skye Bank Plc over inability to meet up the deadline given to it to offset its liabilities.

The CBN governor, Godwin Emefiele disclosed this in a media briefing at the apex bank office in Lagos however assured depositors not to panic as adequate measures have been taken to safeguard the depositors’ money in the bank.

He stated that to ensure smooth running without any form of hitches, the CBN has appointed a new board and management to be headed by Tokunbo Abiro, former Commissioner of Finance in Lagos State as the new Managingn Director/CEO following the resignation of the chairman and managing Director/CEO; Chief Tunde Ayeni and Timothy Oguntayo respectively. In all, 12 directors resigned their appointment at Skye Bank...

“The CBN has approved the appointment of Alhaji M.K Ahmad as the new Chairman of the Board, while Mr. Tokunbo Abiru has been appointed as the new Group Managing Director and CEO,” Skye Bank said in a statement.

“Messrs. Bayo Sanni, Idris Yakubu, Markie Idowu and Abimbola Izu will continue in office as Executive Directors of the Bank. The former leadership of the Bank voluntarily resigned their positions in order to pave the way for a new team to further the new strategic direction of the Bank in the retail and commercial business space, having laid the foundations and set the necessary processes and structures”, Emefiele said.

Ahmad was a pioneer staff of the Nigeria Deposit Insurance Corporation (NDIC), where he rose to become director and member of the Interim Management Board.

The Oxford University graduate was a director on the board of First Bank of Nigeria Holdings PLC.

Abiru, on the other hand, is an alumnus of Harvard Business School (Advanced Management Program) and Lagos Business School (Senior Management Program).

He who holds a B.Sc (Economics) from Lagos state university, a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an honorary senior member of the Chartered Institute of Bankers of Nigeria (CIBN) had spent over a decade at First Bank after leaving Guaranty Trust Bank and rose to become the executive director, corporate banking, from 2013 to 2016.