• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Opinions Blurb

Skye Bank Gets Bailout From The CBN

Nairametrics by Nairametrics
July 22, 2016
in Blurb
Skye Bank
Share on FacebookShare on TwitterShare on Linkedin

RelatedStories

Ponzi, SEC, SEC, FCCPC sign MoU to simplify merger process for quoted companies, Rights issue dominates quoted companies capital raise in 3 years, Victims of ponzi scheme, Dantata Success and Profitable Company, to be settle

SEC advises Afribank shareholders to claim dividends 

September 3, 2019
NSE delists Skye Bank and Skye Bank and Fortis Microfinance Bank

2 banks delisted from NSE

August 22, 2019

The Central Bank of Nigeria has extended a “short-term” loan to Skye Bank to enable it stabilise its operations after a panic withdrawal that ensued due to a massive resignations at the Board and Management level of the bank.

The Central Bank’s extension of a loan which can be viewed as a bailout is seen as an expression of confidence that the new Management and Board of the company can turn things around if given time and liquidity.

It is also viewed as an attempt by the Central Bank to instill confidence into the financial sector while also avoiding any possible contagion that may occur due to fear or lack of confidence in the financial sector.

Central Bank Spokesman Isaac Okoronkwo confirmed the panic withdrawal by the bank’s customers.

“We provide a short-term facility to help them manage the panic withdrawal that happened….In order to support the new management we decided to give them some money, just to support them,” 

Mr Okorafor did not reveal how much money was granted to Skye, the interest rates or when they are expected to repay the loan. Skye Bank shares has rebounded to about 85 kobo per share after dropping to as low as 66 kobo in the wake of the massive resignations.

Skye Bank is also a systemic important bank and for that reason can be considered as one of those banks the CBN believes is “too big to fail”. This move is likely to restore some confidence in attracting customer deposits in the bank.

Tags: Skye Bank
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

Related Posts

Ponzi, SEC, SEC, FCCPC sign MoU to simplify merger process for quoted companies, Rights issue dominates quoted companies capital raise in 3 years, Victims of ponzi scheme, Dantata Success and Profitable Company, to be settle
Business News

SEC advises Afribank shareholders to claim dividends 

September 3, 2019
NSE delists Skye Bank and Skye Bank and Fortis Microfinance Bank
Business News

2 banks delisted from NSE

August 22, 2019
Skye Bank, EFCC, Polaris Bank, Olatunde Ayeni, Timothy Oguntayo
Business News

EFCC files suit against ex Skye Bank Chairman Tunde Ayeni

March 2, 2019
Okpara - This is how Bazz Tomatoes founder lost over $100,000
Business News

This is how Bazz Tomatoes founder lost over $100,000

January 9, 2019
Skye Bank
Business News

How CBN’s decision on Skye Bank saved 6,000 jobs

November 7, 2018
Words on the street on the sale of Polaris Bank to SCIL for N50 billion 
Business News

AMCON outlines its plans for Polaris Bank

October 11, 2018
Next Post
Analysis Of Nigerian Stock Market Performance Last Week (15/7/2016)

Nigerian Stocks: Summary of Trading Today (22/07/2016)

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

arco
Palmpay
access bank
nairametrics
first bank








DUNS

Recent News

  • ASUU dismisses FG’s last-minute plea, strike to start October 13 
  • Road crashes in Nigeria rise 9.4% in Q2 2025, male deaths dominate – NBS 
  • TAJBank’s Sukuk bond oversubscribes by 185%, gets N57 billion from investors 

Follow us on social media:

Recent News

ASUU threatens nationwide strike over unresolved 2009 agreement with Federal Government 

ASUU dismisses FG’s last-minute plea, strike to start October 13 

October 10, 2025
Top 10 States with the most road accidents in Nigeria in Q3 2023 

Road crashes in Nigeria rise 9.4% in Q2 2025, male deaths dominate – NBS 

October 10, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics