Investors, AMCON in loggerhead over Victory Park Estate
Residents and property owners, who bought plots of land in Victory Park Estate have been thrown into infelicitous fears following alleged harassment and intimidation by touts. At the height of this milieu is the purported move by the Asset Management Corporation of Nigeria (AMCON) to recover credit facilities granted to the chairman of Grant Properties…
EFCC denies story on Ayeni, former chair of Skye Bank
The Economic and Financial Crimes Commission (EFCC), has denied reports that former Chairman of Skye Bank, Tunde Ayeni is currently undergoing treatment in an undisclosed medical facility after he was poisoned in EFCC detention. EFCC's acting Spokesperson, Tony Orilade, in a statement yesterday, in Abuja, said: "Given that the intention of this false alarm is…
‘How to curb incidence of banks’ failure in Nigeria’
As the nation grapples with the issue of Skye Bank takeover, the bank’s shareholders, University Dons, Professors Franklin Ngwu and Uche Uwaleke...
What happened to Skye Bank?
Another bridge bank, Polaris Bank Limited, debuted in Nigeria’s banking industry the other day, courtesy of the Central Bank of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDIC).
Polaris Bank as alternative to ‘collapse, liquidation’
The emergence of Polaris Bank to take over the defunct Skye Bank has prevented the extreme situation and applications of two terminologies- “collapse and liquidation”, associated with unfavourable banking industry outcome. A bank is said to have collapsed when it is unable to meet its obligations to its depositors or other creditors, because it has…
Polaris Bank takes over Skye Bank with N786b fresh capital
From Monday, September 24, all branches of Skye Bank Plc would wear a new identity, known as Polaris Bank Limited, as the latest take over of distressed financial institution in the country.
CBN withdraws Skye Bank’s operating license
The Central Bank of Nigeria (CBN) has revoked the operating licence of Skye Bank Plc with immediate effect. This was declared by the apex bank Governor Godwin Emefile on Friday evening in Lagos. Meanwhile, Polaris Bank has been established to assume ownership of the assets and liabilities of Skye Bank, while the management of the…
Court strikes out ex-bank manager’s compensation suit
The National Industrial Court, Abuja, on Tuesday struck out a suit instituted by one Louisa Ugwu, against her former employer, Skye Bank Plc, seeking N10million as general damages. Justice Rakiya Haastrup, dismissed the suit, on the grounds that the claimant was paid her entitlements, including one-month basic salary in lieu of termination, which she accepted.…
Monarch lauds bank for rewarding loyal customers
The Obazelu of Benin Kingdom, Chief Osaro Idah, has commended Skye Bank Plc., for rewarding loyal customers, making people happy, and helping their businesses to grow.
National Assembly aides protest salary delay, indict paying bank
Legislative aides at the National Assembly yesterday protested the delay in the payment of their November salary through SunTrust Bank Plc.