WHO RAN SKYE BANK AGROUND?

What looked like speculation by The Nation newspaper online that Skye Bank banking license has been withdrawn turned to be true.

Sources confirmed that the license has indeed been withdrawn by the Central Bank of Nigeria, according to formal announcement made by the Governor of the bank, Mr Godwin Emefiele 

What is yet to be announced, is that a new license  has also been issued to a new bank, Polaris Bank, hopefully to take over Skye Bank.

By implication, the banks customers have nothing to worry about since it will just be a simple same and ownership change 

But that if course begs the more important question: Who ran Skye Bank aground?

Was it the board and top management put together for the bank since July 2016 by the CBN after sacking the Board or the old board under the chairmanship of Mr Tony Ayeni who as far back as August 2017 was alleged to be indebted to the bank up to N150bn as at then 

The Cable news online had alleged then that the man abused his privileged position to obtain the loans to buy up Ibadan and Yola Electricity Distribution companies  and NITEL/MTEL.

So one of the major efforts of the CBN team was to find ways for this money to be repaid but it was obvious Tony Ayeni will be unable to.

The Cable still alleged that forensic audit report of the bank had since established these loans and more.

For example, it was established that Skye Bank had 2 sets of accounting books made possible by its information technology structure which made it impossible for external auditors and CBN to notice up to N280bn in suspense accounts of the bank.

So the question really is this: What exactly did the CBN management team actually do to save Skye Bank from its mess. What has happened to all indicted by the forensic audit within and outside the bank as being responsible for the liquidity crunch and capital inadequacy that led to CBN take over in 2016?

More importantly, it is also related to ask: How many Nigerian banks today, like the Skye Bank, are keeping two separate account books in their IT platform?

Is Polaris Bank just going to replace Skye Bank without any of these issues being resolved publicly?

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