CBN takes over skye bank, changes name, see name

-

CBN Governor and the Managing Director of the Nigeria Insurance Deposit Corporation (NDIC), Godwin Emefiele, disclosed this on Friday at a media briefing in Lagos.
He said an injection of N786 billion has been made into the bank with the Asset Management Corporation of Nigeria asked to commence sale process of bank from Monday.
He also announced the change of the name to Polaris Bank.
The revocation of Skye bank follows the Central bank’s decision to pause its injection of funds processes in the lender.
The regulators maintain that customers deposits safe as management and members of staff will be retained under the new ownership structure.
Meanwhile, the share price of Skye bank on Friday gained 4.05 percent at 77 kobo.
The stock is expected to be placed on suspension from Monday in accordance with bridge bank procedures.

Comments

Post a Comment

Comment here

Popular posts from this blog

The Origin And Meaning Of Rag Day In Nigerian Universities- Tasued Rag Day fixed

-
Image
To all student of Tai Solarin University of Education... The Rag Day is on the 28th of this month, 28/05/19! The ticket which will serve as your Identity on that very day, and which will also help to prevent any such of Embarrassment!    Is Out on Sales for just the sum of ₦100    For tickets:- Available to all GG of each colleges....; Also available at the Union building.. Get your ticket at your doorstep:- * Union Building; and * GG of each Colleges Make sure you get your ticket for the Rag Day, it Monumental.... Note:- You can't go for the Rag Day without the ticket! Do most student know how rag day came to be?  The origin of the word “Rag” according to the Oxford English Dictionary is “an act of ragging; especially, an extensive display of noisy disorderly conduct carried on in defiance of authority or discipline” . Much more recently, monetary donations have been integrated into this activity. Rag Day displays have seen...
Read more

FG targets N6bn from concessioning of 20 silos

-
Image
ABUJA—THE Federal Government, yesterday, approved the concession of 20 Federal Government silos to private sector operators in a policy that will rake in N6 billion in 10 years. Buhari Minister of Agriculture and Rural Development, Chief Audu Ogbeh, disclosed this while briefing State House correspondents after the Federal Executive Council, FEC, meeting presided over by President Muhammadu Buhari at the Council Chamber, Presidential Villa, Abuja. Ogbeh said the Federal Government will retain six of the silos in its efforts to guarantee food security. According to him, “the Federal Government currently has 33 of such silos, each with a capacity of 1,360,000 metric tones. We are concessioning 20 for now and we hope to retain six.” He disclosed that the silos were being concessioned to some private sector operators with capacity to grow agric produce for exports. He said: “Today we presented a memo to council seeking to concession the silos, which have been built in differ...
Read more