The Central Bank of Nigeria has revoked the operating licence of Skye Bank Plc with immediate effect.
Godwin Emefiele, the governor of the CBN, while announcing this measure during a press briefing in Lagos on Friday, September 21, 2018 said that Skye Bank would be taken over by Polaris Bank.
Polaris Bank would take over all the assets and liabilities of the defunct entity.
He also added that a N786 billion facility is to be injected into the bank by Assets Management Company of Nigeria, AMCON.
