Corporate Action: Skye Bank Announces Resignation of 4 Executive Directors


Nairametrics| Skye Bank has announced the voluntary resignation of four of its Executive Directors from the services of the bank. The four directors are Mr. Idris Yakubu, Mrs. Markie Idowu, Mrs. Abimbola Izu and Mr. Bayo Sanni.

Notifying the Nigerian Stock Exchange, ThisDay reports that the Group Managing Director of the bank, Mr. Tokunbo Abiru thanked the Executive Directors for their service to the commercial bank, noting that they had contributed immensely to the successful leadership transition which kicked off last year.

Calming the nerves of its customers, the bank said that “the new development 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.”

It would be recalled that last July, the Central Bank of Nigeria (CBN) had ordered a mass overhaul of Skye Bank’s top management, removing he chairman, all non-executive directors on the board as well as the managing director, deputy managing director, and the two longest-serving executive directors on the management team.

This was as a result of what the CBN Governor, Godwin Emefiele, called a proactive step in order to save the health of the bank from further deteriorating.

“It is important to reiterate the fact that Skye Bank is not in distress and remains a healthy bank in the system. The CBN hereby assures depositors, shareholders and all relevant stakeholders that there is no reason for concern or panic as we seek their continued cooperation at this time. It is our expectation that the shareholders and remaining executive directors will work seamlessly with the new team to ensure that the fortunes of the bank are restored in the shortest possible time,” he had said.

Chacha Wabara

Chacha Wabara is a legal practitioner, blogger and fitness coach. She has over 5 years experience in blogging and freelance writing. She has written several articles and research work over the years as a freelance contributor. She joins Nairametrics as Our News and Analysis Lead.

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