CBN takes over Skye Bank, announces a new name

The Central Bank of Nigeria (CBN) has revoked the operating license of Skye Bank Plc with immediate effect.

Governor of Central Bank, Godwin Emefiele, disclosed this during a press briefing in Lagos on Friday.

He said that Skye Bank would now be known as Polaris Bank, and AMCON would take over all the assets and liabilities of the defunct entity and commence the sale process from Monday.