Skye Bank has announced the voluntary resignation of some of its Executive Directors from the services of the bank.

The Directors, who had served in Executive Management capacity for nearly two years, have been part of the new Board of the bank, which came into being following the July 4, 2016 intervention of the Central Bank of Nigeria and subsequent re-constitution of its Board.

The Directors who resigned are Idris Yakubu, Markie Idowu, Abimbola Izu and Bayo Sanni.

In order to ensure a smooth leadership progression and service delivery to its customers, the following senior officers, all General Managers, have been re-assigned to oversee the affected directorates: Segun Opeke will oversee the Lagos Commercial Directorate, comprising Corporate, Commercial and Retail; Ayo Abina will supervise the South Directorate; while Femi Aribaloye will oversee the Risk Management Directorate accordingly.

The new appointments takes immediate effect.

The Group Managing Director of the Bank, Tokunbo Abiru, thanked the Executive Directors for their service to the bank, noting that they had contributed immensely to the successful leadership transition which commenced last year.

One of the Executive Directors, who spoke under anonymity, noted: “Having put in some time in the bank, resignation from service is not new in the industry.

“New structures will always create new opportunities and challenges.

“I think this is the right time to step aside for others to also contribute to the growth of the Bank.”

The Bank has also announced that the new development does not in any way affect the smooth running of her operations as the Bank continues to deliver banking and other ancillary financial services to its customers across the country.

Skye Bank is one of the eight banks described by the regulatory CBN as a Systematically Important Bank on account of its size, market share and financial interconnectedness in Nigeria and the West Africa sub-region.

lalasticlala

wHyyyyyyyyyY:
We must protest


"If you are neutral in situations of injustice, you have chosen the side of the oppressor. If an elephant has its foot on the tail of a mouse and you say that you are neutral, the mouse will not appreciate your neutrality" - Desmond Tutu





#iStandWithNigeria #iStandWithTubaba #EnoughisEnough

HAH:
Skye and Heritage Bank have shown all the earlier signs of a bank in trouble, hjope depositors will thread with them with caution

davide470:
And so?

Will the share price increase from 0.50kobo??

We want to see full year result not all this "change of baton"..

lawbabs:


Don't say what u don't know. At least I am very close to one of the affected EDs. They were part of the sacked management last year. They were only retained on the board till now because of smooth transition. The Bank has now completely taken out the former management in line with CBN mandate...

makdcash:
Three executive hav run down the bank....

seunfly:


Is it the same 2face who has dinned and wine with the Poeple that has runined Nigeria financially, why can't he do it when he was dinning with them but he planned protest when he couldn't eat from the table at the top. Let us continue to deceive ourselves ooo.

lawbabs:


Don't say what u don't know. At least I am very close to one of the affected EDs. They were part of the sacked management last year. They were only retained on the board till now because of smooth transition. The Bank has now completely taken out the former management in line with CBN mandate...

deenee:
For avoidance of doubt. The people that resigned were not the ones that put the bank in trouble.

Those were sacked by CBN last year. Also for avoidance of doubt Skye got into trouble because the Chairman Tunde Ayeni a know GEJ crony was giving loans to himself and friends without due process and also did a lot of shady deals with the past govt.

He was the one that bought Yola and Ibadan Disco using depositor funds of about 300m dollars. He also used almost 150m dollars to finance contracts from NNPC all of which were over invoiced. There is also the matter of the 120b loan to proxies for the Heritage/Enterprise Bank acquisition.

Are we also quick to forget the millions of dollars stashed by PeJ in the bank?

And for those that follow the news very well. We are informed that the management in place was a transitional one hence just a matter of time before they are asked to go and a new team in place or maybe this is the sign of a possible acquisition. They is talk of a bank in SA shopping around to acquire a mid size tier 2 Nigerian bank and Skye looks like a sweet target.....low share price.....new management.....trying to clean their books etc. Let's watch and see.

deenee:
For avoidance of doubt. The people that resigned were not the ones that put the bank in trouble.

Those were sacked by CBN last year. Also for avoidance of doubt Skye got into trouble because the Chairman Tunde Ayeni a know GEJ crony was giving loans to himself and friends without due process and also did a lot of shady deals with the past govt.

He was the one that bought Yola and Ibadan Disco using depositor funds of about 300m dollars. He also used almost 150m dollars to finance contracts from NNPC all of which were over invoiced. There is also the matter of the 120b loan to proxies for the Heritage/Enterprise Bank acquisition.

Are we also quick to forget the millions of dollars stashed by PeJ in the bank?

And for those that follow the news very well. We are informed that the management in place was a transitional one hence just a matter of time before they are asked to go and a new team in place or maybe this is the sign of a possible acquisition. They is talk of a bank in SA shopping around to acquire a mid size tier 2 Nigerian bank and Skye looks like a sweet target.....low share price.....new management.....trying to clean their books etc. Let's watch and see.

wellmax:

That's what patriots do. Dine with them when they do good, speak out when they do bad. It's not about personal interest. You really need to understand this.
I support Buhari 100%, but if the protest will make him up his game, then I'm in. #istandwithnigeria