Cbn dissolves skyes bank board director takes bank 2

It appears that you are referring to a recent development in the Nigerian banking industry. Here's a summary of what happened:

• The Central Bank of Nigeria (CBN) dissolved the board of directors of Skye Bank Plc, a commercial bank in Nigeria.
• The CBN took over the management of the bank, effectively replacing the board of directors.
• The CBN's decision was reportedly taken due to the bank's poor financial performance and regulatory breaches.

It's worth noting that the CBN's action was taken to protect the interests of depositors and to prevent a potential collapse of the bank. The CBN has since appointed a new management team to oversee the bank's operations.

Here are some possible reasons why the CBN may have taken this decision:

• Skye Bank had been facing financial difficulties, including a significant decline in its capital base and a high level of non-performing loans.
• The bank had also been accused of regulatory breaches, including failure to comply with CBN's prudential guidelines.
• The CBN may have been concerned about the potential impact of Skye Bank's collapse on the stability of the financial system and the economy as a whole.

Overall, the CBN's decision to dissolve the board of directors of Skye Bank and take over the management of the bank was likely taken to protect the interests of depositors and to prevent a potential collapse of the bank.