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CBN Liquidates Skye Bank As Polaris Bank Takes Over Defunct Bank Assets & Liabilities

cbn liquidates skye bank

Depositors Funds Safe As CBN Liquidates Skye Bank…Polaris Bank Takes Over Assets And Liabilities Of Defunct Bank

After years of struggle, the CBN has finally liquidates the Skye Bank.

The decision to liquidate the bank was announced by CBN Governor Godwin Emefiele this evening in Lagos.

Emefiele assured depositors that their funds remain safe as he announced Polaris Bank as the new owner of the bank.

The Nigeria Deposit Insurance Corporation has injected N786 Billion in the new bank.

The management of the defunct bank was however retained for its good performance.

The defunct Skye Bank has been on Central Bank of Nigeria lifelines since July 2016.

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