Logo Of Polaris Bank Revealed

Polaris Bank logo revealed

Skye Bank’s social media names on Twitter & Facebook have been changed to “Polaris Bank” hours after Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN) released a full statement concerning the withdrawal of the operating license of Skye Bank.

Emefile announced the decision on Friday evening in Lagos said: we took a regulatory action on Skye bank Nigeria PLC.

Polaris Bank is established to assume ownership of the assets and liabilities of Skye Bank.

The Nigeria Deposit Insurance Corporation has injected N786bn in the new bank.

The management of the defunct bank is however retained for its good performance.

The defunct Skye Bank has been on CBN’s lifeline since July 2016 and the apex bank says it can no longer continue to intervene to keep the balance liquid.

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