Financial Institution Skye Bank is
at the centre of all manners of conjectures – and the stories have refused to
away.
And this despite assurances from industry regulator Central Bank of Nigeria, a development that is raising eye brows amongst the publics of the financial institution and the banking sector at large.
And this despite assurances from industry regulator Central Bank of Nigeria, a development that is raising eye brows amongst the publics of the financial institution and the banking sector at large.
‘’This is especially because the talk undermines the value of the financial institution’’ a source disclosed to societynowng.com
Information available to societynowng.com revealed the ‘’talks’’ are being interpreted as an orchestrated campaign.
Available details show the ‘’campaign’’ being perfected by word of mouth, text messages and postings on social media and other information channels centres around claims the financial institution is facing liquidation or being liquidated.
An assertion the Central Bank has refuted more than once.
The industry regulated specifically stated in it’s press statements ‘’ : “The CBN wishes to state, and emphatically so, that it has not liquidated Skye Bank or any other Deposit Money Bank for that matter.
“The bank also wishes to reiterate its earlier assurance that Skye Bank is not
in distress and remains a healthy bank in the Nigerian banking system.
“Indeed, the health of the Nigerian banking system remains strong; all banks in
Nigeria are safe and depositors have no cause to fear over their deposits.”
But despite these strong assertions Skye Bank remains doused in talks of liquidation.
‘’not even reports of show of confidence partnership with governments of Lagos and Kwara states as well as improvement of shares on Stock Exchange as stopped these talks..i think it is more than ordinary’’ an industry watcher opined.
Digs by societynowng.com revealed the emerging theory is that an unravelling plot is on.
‘’this has all the signals of a possible hostile takeover...the value of the financial institution is being buttered up, that is my interpretation of the indication’’ an observer analysed.
The analysis is that the campaign may be targeted at creating a crisis that would allow new investors acquire the bank at below value share price.
Some other industry watchers claim the scenario very possible the way the rumour against has stayed doggedly on the heels of the bank.
Findings by societynowng.com revealed the Bank’s problems started with the change of it’s entire management board by the Central Bank of Nigeria
Amongst the allegations against the team were insiders abuse by ousted Chairman Tunde Ayeni allegedly credited with unsecured loan of some N102billion.
The happenstance which saw the emergence of a new team lead by Tokunbo Abiru sparked off the current speculations hanging on the neck of the financial institution.
Those who should know however claim whatever the loan portfolio of the bank, it can be overcome overtime as long as it is not besiege with panic withdrawals – the very threat the financial institution faces with continuing rumour of liquidation.
‘’Even a bank that is adjudged healthy and as big as Skye bank will find it hard to withstand panic withdrawal from customers..not to talk of...’’ an analyst pointed out.
Societynowng.com learnt the bank’s handlers are currently unsettled with the issue at hand and are passionately seeking ways to contain the situation.
Insiders claim they are trying to find the source of the rumour while exploring means to reverse the negative perception the ‘’malicious rumours’’ are creating.
Concerned by the unravelling development the Central Bank again issued another statement on Wednesday August 17 - signed by Acting Director of Communications, Isaac Okorafor - produced below
“The CBN wishes to state, and emphatically so, that it has not liquidated Skye Bank or any other Deposit Money Bank for that matter.
“The bank also wishes to reiterate its earlier assurance that Skye Bank is not in distress and remains a healthy bank in the Nigerian banking system.
“Indeed, the health of the Nigerian banking system remains strong; all banks in Nigeria are safe and depositors have no cause to fear over their deposits.”
The statement expressed the industry regulators satisfaction with the ongoing efforts of the new management to reposition the financial institution.
But despite these strong assertions Skye Bank remains doused in talks of liquidation.
‘’not even reports of show of confidence partnership with governments of Lagos and Kwara states as well as improvement of shares on Stock Exchange as stopped these talks..i think it is more than ordinary’’ an industry watcher opined.
Digs by societynowng.com revealed the emerging theory is that an unravelling plot is on.
‘’this has all the signals of a possible hostile takeover...the value of the financial institution is being buttered up, that is my interpretation of the indication’’ an observer analysed.
The analysis is that the campaign may be targeted at creating a crisis that would allow new investors acquire the bank at below value share price.
Some other industry watchers claim the scenario very possible the way the rumour against has stayed doggedly on the heels of the bank.
Findings by societynowng.com revealed the Bank’s problems started with the change of it’s entire management board by the Central Bank of Nigeria
Amongst the allegations against the team were insiders abuse by ousted Chairman Tunde Ayeni allegedly credited with unsecured loan of some N102billion.
The happenstance which saw the emergence of a new team lead by Tokunbo Abiru sparked off the current speculations hanging on the neck of the financial institution.
Those who should know however claim whatever the loan portfolio of the bank, it can be overcome overtime as long as it is not besiege with panic withdrawals – the very threat the financial institution faces with continuing rumour of liquidation.
‘’Even a bank that is adjudged healthy and as big as Skye bank will find it hard to withstand panic withdrawal from customers..not to talk of...’’ an analyst pointed out.
Societynowng.com learnt the bank’s handlers are currently unsettled with the issue at hand and are passionately seeking ways to contain the situation.
Insiders claim they are trying to find the source of the rumour while exploring means to reverse the negative perception the ‘’malicious rumours’’ are creating.
Concerned by the unravelling development the Central Bank again issued another statement on Wednesday August 17 - signed by Acting Director of Communications, Isaac Okorafor - produced below
“The CBN wishes to state, and emphatically so, that it has not liquidated Skye Bank or any other Deposit Money Bank for that matter.
“The bank also wishes to reiterate its earlier assurance that Skye Bank is not in distress and remains a healthy bank in the Nigerian banking system.
“Indeed, the health of the Nigerian banking system remains strong; all banks in Nigeria are safe and depositors have no cause to fear over their deposits.”
The statement expressed the industry regulators satisfaction with the ongoing efforts of the new management to reposition the financial institution.
Societynowng.com however is unable to gauge the effect of this latest emphatic show of confidence in the bank by the Central bank at press time.
societynowng
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