In July 2016, the CBN (Central Bank of Nigeria) replaced the management of Skye bank and plans to sell it’s international units after breaching liquidity thresholds to ease pressure on capital buffers.
FACTS:
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Skye Bank is seeking to dispose of majority stakes in its businesses in Gambia, Guinea and Sierra Leone.
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Greenwich Trust Ltd. is the financial adviser on the deals.
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Bidders must submit expressions of interest by Nov. 18
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The bank is seeking to drop it’s international banking licenses and become a national bank
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It’s stocks has plunged 64 percent this year
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Skye Bank along with Unity Bank Plc, is close to being insolvent.
The CBN has assured investors that Nigeria banks have a strong capital base with the ability to absorb losses and generate income
