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Sky Bank Customers Panic Withdraw Their Money After CBN take over today

The Central Bank of Nigeria is set to partially take over the Skye bank of Nigeria Plc by dissolving the board of management.
Sources say Central Bank of Nigeria to lay-off all Skye Bank of Nigeria Directors, except the three execs that joined the lender about a year ago.
According to Channels Television Business Editor, Boason Omofaye, Intercontinental Hotel in Lagos is hugely financed by Skye Bank of Nigeria and the Apex Bank may withdraw franchise.

The Bank's General Managing Director and Chief Executive Officer of Skye Bank PLC, Mr. Timothy Oguntayo has also resigned his position.
Following the announcement by the Central Bank of Nigeria (CBN) taking over the management of Sky Bank Plc, the bank’s customers has besieged their banking halls across some branches for panic withdrawal of cash from the bank.
According to our correspondent who payed a visit round some branches in Lagos, a mammoth crowd besieged the Adeola Odeku Street branch of the bank in VI over fear of the bank getting involved in management crises.
The Central Bank of Nigeria dissolved the Board of Skye bank and partially take over the bank today. The development comes as the bank has been deemed ‘unhealthy’ and is a measure to prevent a total collapse of the financial institution.
Already a new board has been constituted by the CBN with Alhaji Muhammad K. Ahmad, OON as the Chairman. The CBN also appointed Adetokunbo Mukhail ABIRU as the bank’s CEO.

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