Entire management team of Skye Bank was dissolved today by CBN over capital adequacy issues. The bank’s top executives on getting the news of their sack, resigned.
The bank’s Chairman, Tunde Ayeni and its Managing Director, led other executive and non-executive board members to tender their resignation before the apex bank announced the dissolution of the bank’s management team this afternoon.
CBN will manage the affairs of the bank for some time. The bank, according to financial experts, has been distressed for a while.