The Governor of the Central Bank of Nigeria (CBN) Godwin Emiefiele has announced the appointment of Mr Tokunmbo Abiru as the new Chief Executive Officer, CEO, of Skye Bank following the dissolution of the bank’s Board of Directors.
Emiefiele gave the hint at a press briefing on Monday after confirming the resignation of the former CEO, Timothy Oguntayo.
The CBN boss said the move was to prevent Skye bank from collapsing due to an estimated non-performing loan profile of N700 billion exceeding the allowed 5 percent threshold.
The Oguntayo-led management was sacked including directors, but for three executives who joined the bank last year.
The huge loan profile according to Emiefiele was due to over exposure in the oil and gas sector.
