Business
BARELY a week after the revealing publication in select national newspapers by Skye Bank entitled: “Regulatory Takeover of Skye Bank Management: One Year After”, chronic debtors have drawn the battle line with the management of the bank.
In the July 18, advertorial, the bank’s management resolved to be resolute and ensure that all those who committed infractions against the lender, pay accordingly for their actions and meet their legitimate obligations to the bank.
The debtors are allegedly sponsoring media attacks to discredit the bank, especially Tokunbo Abiru, its chief executive officer, who they allege was appointed by the Central Bank of Nigeria to take them down.
But such antics have not deterred the chief executive officer of the bank from relentlessly pursuing its debt recovery programme, which is causing the debtors’ sleepless nights.
This apparently irked the debtors hence they have resorted to orchestrated negative media campaigns against the leadership of the bank in the days and weeks ahead.
Realnews recalls that on July 4, 2016, the CBN had intervened and re-constituted a new board and management for Skye Bank Plc., to address what it described then as the bank’s declining prudential ratios and return it to sustainable profitability. The mandate of the new management was to reduce cost to income ratio, improve asset quality, improve liquidity and capital adequacy and restore profitability.
This action by the apex bank made the new management to be firm in tackling the humongous challenges they met in the bank which at the time was in a parlous state because many of its largest loans, taken by highly placed individuals and organisations, were non-performing. As at then its capital was significantly eroded and liquidity impaired.
— Jul 27, 2017 @ 17:00 GMT
Tags: CBN chief executive officer One Year After pursuing its debt recovery programme Realnews Regulatory Takeover of Skye Bank Management Skye Bank Skye Bank’s N60bn Debt Recovery: Chronic Debtors Fight Back Tokunbo Abiru
