How does Skye Bank’s takeover concern Niger Delta Militants? READ



The militants allege that Monday’s shake-up at Skye Bank was a veiled attempt by Emefiele to forcefully wind up certain banks in the country, including Skye Bank – whose management was sacked 6 months before the expiration of this directive.

According to Vanguard, the militant group, in a statement in Lagos by its Commander Johnson Biboye, also asked President Buhari to prevail on the CBN governor to withdraw a letter addressed to 11 banks, including Skye Bank Plc, compelling them to bring ‘insider related credits’ before December 31, describing it as an anti-people’s policy.

The militants claimed the new policy by Emefiele will throw the country into economic instability should the apex bank be allowed to go ahead with its planned directive as the plan was nothing but to take-over the 11 banks.

The CBN had in a letter dated January 22 by its Director of Banking Supervision, Benjamin Fakunle, asked the banks to bring 10 per cent of their paid-up capital per director before December 31.

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