Reviews

Corporate Actions on the NSE WTD September 28 2018

Corporate actions are decisions taken by companies’ boards of directors or management teams, that could have an impact on the firms themselves or shareholders. Examples of corporate actions include the payment of dividends, closing of shareholders’ registers, announcing qualification dates and Annual General Meeting (AGM) dates. Here is a review of corporate actions that took place […]

The Short Eventful Life Of Skye Bank — Leadership Newspaper

Born in 2006 from a union of four banks, the entity, Skye Bank Plc, has been through several transfusions and finally transformed into Polaris Bank on Friday, September 21, 2018 after being on life support for more than two years. BUKOLA IDOWU and SHOLA BELLO (Lagos) write on the activities that led to its takeover. […]

Kingsley Moghalu speaks on Nigeria’s FX rates

One of Nigeria’s presidential aspirant, Kingsley Moghalu has lamented the multiple exchange rates Nigeria operates. In an explosive interview with Bloomberg, Moghalu said the multiple exchange rates has created chances for lack of transparency which he said has been one of his major concerns. In the course of the interview, the former Deputy Governor of the […]

See what Nigerians are saying about the new Polaris Bank

The recent revocation of the license of Skye Bank by the Central Bank of Nigeria (CBN) has continued to generate divergent reactions from Nigerians. The Apex bank yesterday announced the establishment of a bridge bank, Polaris Bank, to take over activities of the now defunct Skye Bank. Before we give you reactions from Nigerians, Here […]

Your deposits are safe – CBN assures former Skye Bank customers-Flash

All customers of former Skye Bank now Polaris bank, have been informed by the Central Bank of Nigeria not to panic as their deposits in the bank are safe.Yesterday, the apex bank revoked the license of the former Skye bank. According to CBN governor, Godwin Emefiele said the decision was reached after Skye bank […]

Skye Bank MD notifies staff and customers of transition to Polaris Bank

Group Managing Director (GMD) of Polaris Bank ( successor to the defunct Skye Bank Plc) Adetokunbo Abiru has written to both staff and customers of the bank, informing them of the new changes. The Central Bank of Nigeria (CBN) yesterday announced the revocation of the bank’s operating licence, due to the inability of shareholders to […]

Skye Bank’s operating licence revoked by CBN :: Bestnaira.com

    The Central Bank of Nigeria has revoked Skye Bank’s operating licence. The Nigeria Deposit Insurance Corporation, NDIC created a bridge bank named Polaris Bank to assume assets and liabilities of Skye Bank. The bridge bank will inject N786bn to recapitalise the bank and return it to stability and profitability before selling to interested […]

CBN ya soke lasisin aikin Bankin Skye

Babban bankin Najeriya wato CBN ya janye lasisin bankin Skye. Umar Ibrahim, daraktan hukumar dake kula da inshorar kudaden masu ajiya bankunan kasar,NDIC shine a bayyana haka ga manema labarai ranar Juma’a. Umar ya ce hukumar ta NDIC tare da hadin gwiwar Babban Bankin Najeriya wato CBN […]

Why Polaris Bank Took Over Skye Bank ⋆ Nigeria News

It  has been reported that Skye Bank has been revoked by the Central Bank of Nigeria (CBN) after the owners of Skye bank failed to shore up the capital which had collected huge amount of funds. Precisely in the region of about 350 billion naira which was in the year of 2016. It is now […]

CBN gives reason for revoking Skye Bank’s License

More facts have emerged as to why the Central Bank of Nigeria (CBN) revoked the operating license of the now-defunct Skye Bank Plc In a press release issued this evening, it noted that the result of its examinations and forensic audit of the bank revealed that the bank required urgent recapitalization, as it could no longer […]

We’ve no hidden $470.5m, N8b in commercial banks – NNPC – The Eagle Online

The Nigerian National Petroleum Corporation says it has no hidden 470.5 million dollars and N8 billion in any commercial bank as alleged by the Nigerian police. The Nigerian National Petroleum Corporation says it has no hidden 470.5 million dollars and N8 billion in any commercial bank as alleged by the Nigerian police.The NNPC in a […]

Polaris to takeover Skye bank assets as CBN revokes operating licenseNaija247news

ABUJA, Sept 21 – Nigeria’s central bank has revoked Skye Bank’s operating licence and a bridge bank called Polaris has been created to take over the lender’s assets, the financial regulator said on Friday. Isaac Okorafor, a central bank spokesman, said state-run bad bank the Asset Management Corporation of Nigeria (AMCON) had injected 786 billion […]

UPDATE 2-Nigeria’s central bank withdraws Skye Bank’s operating licence

(Adds details, quotes, background) By Chijioke Ohuocha and Camillus Eboh ABUJA, Sept 21 (Reuters) – Nigeria’s central bank has revoked Skye Bank’s operating licence and a bridge bank called Polaris has been created to take over the lender’s assets, the financial regulator said on Friday. Isaac Okorafor, a central bank spokesman, said state-run bad bank […]

Nigeria’s central bank withdraws Skye Bank’s operating licence

By Chijioke Ohuocha and Camillus Eboh. ABUJA, Sept 21 (Reuters) – Nigeria’s central bank has revoked Skye Bank’s operating licence and a bridge …