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UPDATE: Polaris Bank Takes Over Skye Bank As CBN Withdraws License - Hallo friendsBreaking News Today, In the article you read this time with the title UPDATE: Polaris Bank Takes Over Skye Bank As CBN Withdraws License, We have prepared this article for you to read and retrieve information therein. Hopefully the contents of postings Article culture, Article News, Article politics, Article sports, We write this you can understand. Alright, good read.

Title : UPDATE: Polaris Bank Takes Over Skye Bank As CBN Withdraws License
link : UPDATE: Polaris Bank Takes Over Skye Bank As CBN Withdraws License

UPDATE: Polaris Bank Takes Over Skye Bank As CBN Withdraws License

Following the withdrawal of the operating licence of Skye Bank Plc, the Central Bank of Nigeria (CBN), in consultation with the Nigerian Deposit Insurance Corporation (NDIC), has established a bridge bank known as Polaris Bank, to assume the assets and liabilities of the defunct bank.

CBN Governor, Mr. Godwin Emefiele, on Friday, said the strategy was for the Asset Management Company of Nigeria (AMCON) to capitalise the bridge bank and begin the process of sourcing investors to buy out AMCON.

“By this decision, the licence of the defunct Skye Bank is hereby revoked.

“We wish to assure all depositors that under this arrangement, their deposits shall remain safe and that normal banking services shall continue in the new bank on Monday, 24th September, 2018, to enable customers to transact their businesses seamlessly

““Thus, all customers of Skye Bank shall be automatic customers of the new bank and their accounts and records duly purchased by Polaris Bank,” Emefiele explained.

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