The Central Bank of Nigeria today sacked the management team of Skye Bank over capital adequacy issues. The bankâ€™s top executives on getting wind of their impending sack, resigned en-mass this morning. The bankâ€™s Chairman, Tunde Ayeni and its Managing Director, led other executive and non-executive board members to tender their resignation before the apex bank announced the dissolution of the bankâ€™s management team this afternoon.
CBN will manage the affairs of the bank for some time. The bank, according to financial experts, has been distressed for a while.