By InvestAdvocate

Lagoos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) on Monday dissolved the board and management of Skye Bank Plc on issues bordering on Non Performing Loans (NPLs), Liquidity concerns and Capital adequacy Ratio (CAR) and appointed MK Ahmad former PENCOM Chairman as the new chairman of the board and Tokunbo Abiru, former Commissioner of Finance, Lagos State as the new MD.

However, the Managing Director and some top management of Skye Bank of Nigeria today resigned in anticipation of the planned dissolution of the board by the CBN.

The resignation of the Bank’s management was a pre-emptive action by the bank to avoid a total clampdown by the CBN as it plans to remove directors in banks with bad debts in the next few days, according to Sahara Reporters.

Details coming up soon.