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Lagos affirms support for Skye Bank


Skye Bank

Skye Bank

The Lagos State Government has expressed its confidence on the board and management and new leadership at Skye Bank Plc.

The state government also expressed its optimism that the bank is safe and in good financial health.

In a circular by the Permanent Secretary, Ministry of Finance/Accountant-General, Mrs. A. S Umar and addressed to the states Ministries, Departments and Agencies and local governments, she noted that Lagos State is a major stakeholder in Skye Bank.

She further advised public servants to desist from panic withdrawals, saying that negative rumours making the rounds against the bank were unfounded.

The state, with a population estimated above 20 million and a four-million middle class, has been described by the local and international agencies as Africa’s fifth largest economy in Gross Domestic Product at about $131 billion.

However, the new business partnership between Skye Bank and the state is expected to boost the bank’s capacity again in retail and commercial segment.

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