“There Is No Need To Panic”-Skye Bank Tells Customers

There is no need to panic, Skye Bank Plc customers were yesterday assured following the changes in the bank.

The new Group Managing Director/Chief Executive Officer, Tokunbo Abiru, affirmed the Central Bank of Nigeria’s (CBN’s) statement that the leader remains healthy and strong.

Abiru, who spoke after taking over from his predecessor, Timothy Oguntayo, said the lender’s fundamentals remained “strong” and “virile”, assuring customers and other stakeholders of the safety of their funds and investments.

His assurance came on a day Central Bank of Nigeria (CBN) Governor Godwin Emefiele gave banks a clean bill of health.

The Skye Bank chief said his team would leverage on the bank’s reputable information technology platform to make the lender not just a frontline retail and commercial bank, but an industry leader.

Abiru, who outlined his vision for the bank, said his team would harness the expertise and skills of the bank’s employees and the reconstituted board to take the lender to new heights. He noted that as a Systematically Important Bank (SIB) bank, the lender occupies a sensitive role in the financial life of Nigerians and West Africa.

The CBN on Monday approved the reconstitution of a new Board. It named M. K. Ahmad and Abiru as Chairman and Managing Director.
Other new directors are Bayo Sanni, Idris Yakubu, Markie Idowu and Abimbola Izu.

The reconstitution of the board followed the voluntary resignation of the former Chairman, Dr. Tunde Ayeni and other Non – Executive Directors, namely Victor Odozi, Babajide Agbabiaka, Dr. Jason Fadeyi, Kunle Aluko, Victor Adenigbagbe, Abdul Bello and Hajiya Amunna Lawan Ali.

Oguntayo resigned as Group Managing Director /CEO, along with Mrs. Amaka Onwughalu, Dotun Adeniyi and Mrs. Ibiye Ekong who were DMD and EDs.
The former management , sources said, resigned to pave the way for a new team to further the new strategic direction of the bank in the retail and commercial business space.

Also, the challenge of accelerating growth in the new strategic direction becomes more urgent, given the economic challenges in the global and domestic operating environment and the attendant challenges.