Skye Bank CEO reveals reasons for resignation

Timothy Oguntayo was appointed to the Board of the Bank on August 18, 2009 following Kehinde Durosinmi-Etti's retirement from the Board effective July 31, 2014.

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Timothy Oguntayo

(stellanaija)
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The former Group Managing Director and Chief Executive Officer of Skye Bank, Timothy Oguntayo's resignation might have been as a result of some 'counter forces from within and outside' the bank.

According to an informed source, Pulse exclusively gathered that Oguntayo was not so happy quitting the financial institution following the bank's financial issues with the Central Bank of Nigeria.

Nigeria Bank in talks to raise 30 bln naira before year-end play

Nigeria Bank in talks to raise 30 bln naira before year-end

(Theheraldng)

 

Pulse reliably gathered that Oguntayo told colleagues that 'counter forces from within and outside the bank that made it impossible to achieve steady progress.'

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He was further alleged to have said, "The last two years, of my stewardship as the GMD/CEO, have been eventful and challenging. I have put all that I have into turning the fortunes of this bank around, working with each and every one of you. However, the results have not been commensurate with the efforts."

Oguntayo was appointed to the Board of the Bank on August 18, 2009 following Kehinde Durosinmi-Etti's retirement from the Board effective July 31, 2014.

The ex-Bank boss was appointed Acting GMD/CEO from April 15, 2014 and substantive GMD/CEO from August 1, 2014. Prior to this appointment as GMD/CEO, Oguntayo was the Bank's Executive Director responsible for the supervision of Corporate and Investment Banking Group, Commercial Banking in the South–West Region and all the international banking subsidiaries of the Bank.

According to the Skye Bank's website, Oguntayo was the pioneer MD/CEO of Skye Financial Services Limited (the investment banking arm of Skye bank) before the Bank's divestment from it in 2012. He equally served on the Board of Skye Stockbrokers Limited, Law Union & Rock Insurance Plc. Kakawa Discount House Limited.

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