{"id":9765,"date":"2016-07-04T18:25:57","date_gmt":"2016-07-04T18:25:57","guid":{"rendered":"http:\/\/newsroom247.com.ng\/?p=9765"},"modified":"2016-07-04T18:47:36","modified_gmt":"2016-07-04T18:47:36","slug":"n700b-non-performing-loan-cbn-dissolves-skye-bank-board-appoints-ex-lagos-finance-commissioner-as-ceo","status":"publish","type":"post","link":"http:\/\/newsroom247.com.ng\/?p=9765","title":{"rendered":"N700b non-performing loan: CBN Dissolves Skye Bank Board, appoints ex-Lagos finance commissioner as CEO"},"content":{"rendered":"<p><code><script src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\" async=\"\"><\/script><br \/>\n <!-- www.deltanewsroom.com --><br \/>\n <ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-2163942495525027\" data-ad-slot=\"1411897411\" data-ad-format=\"auto\"><\/ins><br \/>\n<script>\/\/ <![CDATA[\n(adsbygoogle = window.adsbygoogle || []).push({});\n\/\/ ]]><\/script><\/code><\/p>\n<p><strong>The Central Bank of Nigeria (CBN) has dissolved the Board of Skye bank and appointed Tokunbo Abiru, former commissioner of finance in Lagos state, as the new chief executive officer (CEO) and managing director (MD) of Skye Bank.<\/strong><\/p>\n<p>This was done, following the <strong>resignation of Timothy Oguntayo<\/strong> and the dissolution of the top management of the eighth biggest lender in the Nigerian banking sector.<\/p>\n<p>Abiru was Lagos commissioner of finance (2011- 2013) under the leadership of Babatunde Fashola, the current minister of power, works and housing.<\/p>\n<p>\u201cThe CBN has approved the appointment of Alhaji M.K Ahmad as the new Chairman of the Board, while Mr. Tokunbo Abiru has been appointed as the new Group Managing Director and CEO,\u201d Skye Bank said in a statement.<\/p>\n<p><!-- BEGIN JUMIA --><a href=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/06\/Alayo-2.jpg\" rel=\"attachment wp-att-9619\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-9619\" src=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/06\/Alayo-2-300x250.jpg\" alt=\"Alayo 2\" width=\"300\" height=\"250\" srcset=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/06\/Alayo-2-300x250.jpg 300w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/06\/Alayo-2.jpg 559w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><a href=\"http:\/\/marketing.net.jumia.com.ng\/ts\/i3556158\/tsc?amc=aff.jumia.44339.52450.26014&amp;tst=!!TIMESTAMP!!\" target=\"_blank\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/marketing.net.jumia.com.ng\/ts\/i3556158\/tsv?amc=aff.jumia.44339.52450.26014&amp;tst=!!TIMESTAMP!!\" alt=\"NG-[C:G.Mobi,B:Tecn,Wk:2716,Dim:336X280]:Camon_C9\" width=\"336\" height=\"280\" border=\"0\" \/><br \/>\n<\/a><\/p>\n<p><!-- END JUMIA --><\/p>\n<p>\u201cMessrs. Bayo Sanni, Idris Yakubu, Markie Idowu and Abimbola Izu will continue in office as Executive Directors of the Bank. The former leadership of the Bank voluntarily resigned their positions in order to pave the way for a new team to further the new strategic direction of the Bank in the retail and commercial business space, having laid the foundations and set the necessary processes and structures.\u201d<\/p>\n<p>Ahmad is said to have about 35 years experience leading and working in various public sector organizations and financial services institutions in Nigeria.<\/p>\n<p>He was pioneer director-general and chief executive officer of the National Pension Commission and oversaw the establishment and growth of the pension industry in Nigeria with over N5 trillion in assets to become a major contributor to Nigeria\u2019s GDP.<\/p>\n<p>Ahmad was a pioneer staff of the Nigeria Deposit Insurance Corporation (NDIC), where he rose to become director and member of the Interim Management Board.<\/p>\n<p>The Oxford University graduate was a director on the board of First Bank of Nigeria Holdings PLC.<\/p>\n<p>Abiru, on the other hand, is an alumnus of Harvard Business School (Advanced Management Program) and Lagos Business School (Senior Management Program).<\/p>\n<p>He holds a B.Sc (Economics) from Lagos state university and is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an honorary senior member of the Chartered Institute of Bankers of Nigeria (CIBN).<\/p>\n<p>Abiru cut his banking teeth at Guaranty Trust Bank and First Bank of Nigeria, spending about 14 years with the latter, and rising to become the executive director, corporate banking, from 2013 to 2016.<a href=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/07\/cbn-gov..jpg\" rel=\"attachment wp-att-9766\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-9766\" src=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/07\/cbn-gov..jpg\" alt=\"cbn gov.\" width=\"284\" height=\"177\" srcset=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/07\/cbn-gov..jpg 284w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/07\/cbn-gov.-128x80.jpg 128w\" sizes=\"auto, (max-width: 284px) 100vw, 284px\" \/><\/a><\/p>\n<p>The apex bank took the decision as Sky Bank has been deemed \u2018unhealthy\u2019 and is a measure to prevent a total collapse of the financial institution.<\/p>\n<p>The bank is thought to have an estimated non-performing loan portfolio of N700 billion , much of which is due to an overexposure in the oil and gas sector. All the directors and executives at the bank save for three executives who joined the bank last year have been shown the door.<\/p>\n<p>Timothy Oguntayo, managing director of Skye Bank, has already dropped his resignation. The bank would be taken over by CBN and possibly handed over to the Asset Management Company of Nigeria, AMCON. AMCON would buy up the bank\u2019s toxic loan and then make efforts to recover them from the bank\u2019s chronic debtors.<\/p>\n<p>In all, 12 directors resigned their appointment at Skye Bank.<\/p>\n<p>&nbsp;<\/p>\n<p><script src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\" async=\"\"><\/script><br \/>\n <!-- www.deltanewsroom.com --><br \/>\n <ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-2163942495525027\" data-ad-slot=\"1411897411\" data-ad-format=\"auto\"><\/ins><br \/>\n<script>\/\/ <![CDATA[\n(adsbygoogle = window.adsbygoogle || []).push({});\n\/\/ ]]><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Nigeria (CBN) has dissolved the Board of Skye bank and appointed Tokunbo Abiru, former commissioner of finance in Lagos state, as the new chief executive officer (CEO) and managing director (MD) of Skye Bank. This was done, following the resignation of Timothy Oguntayo and the dissolution of the top management of [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":9619,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"ngg_post_thumbnail":0,"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[1],"tags":[362,2224,2225,2226],"class_list":["post-9765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-cbn","tag-skye-bank","tag-timothy-oguntayo","tag-tokunbo-abiru"],"jetpack_featured_media_url":"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/06\/Alayo-2.jpg","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4oswh-2xv","_links":{"self":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/9765","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9765"}],"version-history":[{"count":2,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/9765\/revisions"}],"predecessor-version":[{"id":9768,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/9765\/revisions\/9768"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/media\/9619"}],"wp:attachment":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9765"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}