4 CBN Appointed EDs Resign From Skye Bank

Four of the new board members constituted by the Central Bank of Nigeria for Skye Bank last year has resigned from the bank six months into their appointment. Their resignation was announced by the bank in a letter to the Nigerian Stock Exchange yesterday.

In a letter signed by Skye Bank’s Company Secretary, Babatunde Osibodu, the bank said the four executive directors had resigned from the board voluntarily. The executive directors, Idris Yakubu, Markie Idowu,  Abimbola Izu and Bayo Sanni were among the six board members appointed by the apex bank.

The Directors had served in Executive Management capacity for nearly two years before their appointment by the CBN in July last year. The Timothy Oguntayo led board had resigned from the bank after the bank failed to meet regulatory prudential adequacy ratios. Consequently, the CBN had on July 4, 2016 appointed a new Chairman, Alhaji M.K Ahmad and Tokunbo Abiru as Managing Director alongside the executive directors to make up the new board.

Skye Bank yesterday assured the the resignation of four of its executive directors “does not in any way affect the smooth running of the Bank as it continues to deliver services to its customers across the country. The portfolios of the Directors have been assigned to some General Managers to ensure a seamless transition.

Source : Leadership

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