The Economic and Financial Crimes Commission has commenced investigation of the directors of the defunct Skye Bank for prosecution. Under the watch of the Dr. Olatunde Ayeni led board of directors, the defunct Skye Bank went from N1.4 trillion asset in 2014 to negative asset base of N786 trillion as at the time its license was revoked by the Central Bank of Nigeria (CBN). The assets and liabilities has been assumed by newly licensed Polaris Bank created and sold to the Asset Management Corporation of Nigeria (AMCON) by the Nigeria Deposit Insurance Corporation (NDIC). Read more:
Category: Market News