Four executive directors of Skye Bank resign

Skye Bank

Four executive directors of Skye Bank have tendered their voluntary resignation, the bank announced in a statement on Friday.

The directors who had served in executive management capacity for nearly two years were  part of the new board of the bank which came into being following the July 4, 2016 intervention of the Central Bank of Nigeria (CBN) and subsequent re-constitution of the bank’s board.

Those who resigned are Mr. Idris Yakubu, Mrs. Markie Idowu, Mrs. Abimbola Izu and Mr. Bayo Sanni.

The bank says in order to ensure a smooth leadership progression and service delivery to its customers, “the following senior officers, all general managers have been re-assigned to oversee the affected directorates: Mr. Segun Opeke will oversee the Lagos Commercial Directorate, comprising Corporate, Commercial and Retail, Mr. Ayo Abina will supervise the South directorate while Mr. Femi Aribaloye will oversee the Risk Management Directorate accordingly. The new appointments take immediate effect.

Group Managing Director of the Bank Mr. Tokunbo Abiru thanked the executive directors for their service to the bank, noting that they had contributed immensely to the successful leadership transition which commenced last year.

The CBN sacked the management of Skye Bank in 2016 over the bank’s persistent failure to meet minimum thresholds in critical prudential and adequacy ratios, which culminated in the bank’s permanent presence at the CBN lending window.

Abiru took over as chief executive from Timothy Oguntayo, who led Skye Bank to acquire Mainstreet Bank in 2014.