Skye Bank New board members unveiled following sack of previous leadership

While a new CEO and Chairman have been appointed already, the new board of the bank has only just been announced.

  • Published:
Nigeria's central bank sacks Skye Bank execs over capital issues play

Nigeria's central bank sacks Skye Bank execs over capital issues

(Reuters)
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Pulse recently reported the dissolution of the Skye Bank board and the removal of the bank's executives by the Central Bank of Nigeria over capital issues.

While a new CEO and Chairman have been appointed already, the new board of the bank has only just been announced.

A Skye Bank branch play

A Skye Bank branch

(Guardian)

 

With the voluntary resignation and sack of the now-former executives, Alhaji M. K Ahmad has been named as the new Chairman of the Skye Bank board, Tokunbo Abiru has been appointed the new Group Managing Director and CEO. Other members of the new board are Bayo Sanni, Idris Yakubu, Markie Idowu and Abimbola Izu, who were formerly Executive Directors at the bank.

Olatunde Ayeni play

Olatunde Ayeni, Chairman Skye Bank and NATCOM

(peoplespostng)

 

ALSO READ: CEO reveals reasons for resignation

The bone of contention has been Skye Bank's dismal performance and failure to achieve capitalization despite several windows from the Central Bank.

Central Bank governor, Godwin Emefiele, speaking to journalists in Lagos on Monday, July 4, 2016, said the CBN was only taking a proactive step to stop the bank from sinking further into financial murkiness.

Central Bank Governor Godwin Emefiele speaks during the monthly Monetary Policy Committee meeting in Abuja play Central Bank Governor Godwin Emefiele speaks during the monthly Monetary Policy Committee meeting in Abuja, Nigeria January 26, 2016. (REUTERS/Afolabi Sotunde)

 

Only last month, Skye Bank was widely reported to have fired over 200 members of its workforce following the CBN's directive to float the Naira. However, the bank denied the allegations saying instead that the sacked workers had failed its 2015 appraisal exercise.

Ah, well.

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