₦airaland Forum

The defunct Skye Bank appeared to be in good standing in 2014 when it acquired Mainstreet Bank, only to have its assets taken over four years later. At the close of a week earlier in September, Central Bank of Nigeria (CBN) Governor Godwin Emefiele announced the revocation of Skye Bank’s operational license. Emefiele, who doubles as the Managing Director of the Nigeria Insurance Deposit Corporation (NDIC), added that the bank’s assets are being transferred to Polaris Bank, with immediate effect.

If not for the swift steps taken by the NDIC to forestall the complete collapse of the bank, over ₦949.6bn in depositors’ fund could have gone down the drain. Through the timely engagement of Polaris Bank as the bridge bank, the CBN was able to guarantee the seamless and continuous banking operations in the 277 branches of the bank, save over 6,000 jobs and ensure depositors have unhindered access to deposits in excess of ₦949.60bn https://qwenu.com/2018/12/12/what-actually-led-to-the-fall-of-skye-bank/

Nice 1 OP

qwenu:
The defunct Skye Bank appeared to be in good standing in 2014 when it acquired Mainstreet Bank, only to have its assets taken over four years later. At the close of a week earlier in September, Central Bank of Nigeria (CBN) Governor Godwin Emefiele announced the revocation of Skye Bank’s operational license. Emefiele, who doubles as the Managing Director of the Nigeria Insurance Deposit Corporation (NDIC), added that the bank’s assets are being transferred to Polaris Bank, with immediate effect.

If not for the swift steps taken by the NDIC to forestall the complete collapse of the bank, over ₦949.6bn in depositors’ fund could have gone down the drain. Through the timely engagement of Polaris Bank as the bridge bank, the CBN was able to guarantee the seamless and continuous banking operations in the 277 branches of the bank, save over 6,000 jobs and ensure depositors have unhindered access to deposits in excess of ₦949.60bn https://qwenu.com/2018/12/12/what-actually-led-to-the-fall-of-skye-bank/

You didn't say the reason.

You end up confusing us more