First Bank

Friday, March 11, 2016

Skye Bank Refutes Media Reports On Non-Compliance To TSA On PIC Account

Our attention has been drawn to a report in Sahara Reporters and other news publications like Punch and Thisday newspaper of Friday, March 11, 2016 entitled TSA: EFCC invites Skye Bank MD.

The reported stated that the GMD and the Chief Compliance Officer of Skye Bank have been invited by the EFCC over an alleged non-remittance of funds belonging to the Presidential Implementation Committee (PIC) to the CBN in compliance with the TSA directives.

We wish to state that as at the time of the said Sahara reports, neither the GMD nor the Chief Compliance Officer of the Bank had received any such invitation.

More importantly however, the balances in the said PIC account had since been moved to the CBN in compliance with the TSA on October 2, 2015 and the account closed.

For the avoidance of doubt, Skye Bank thus does not maintain any account nor hold any funds belonging to the PIC as at today. These Bank is ever ready to provide full information regarding the said account to any security agency including EFCC.

Our Managing Director and indeed officers of the Bank as law-abiding citizens will be willing at any time, to honour any invitation from the law enforcement Agencies.

We also use this medium to assure our stakeholders, especially our customers and the general public that our Bank would continue to operate transparently at all times as well as uphold the valued tenet of corporate best practices in our dealings.

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