Skye Bank gets a new Board of Management

The CBN has approved the reconstitution of the Board of Skye Bank PLC.

Sequel to the partial take over of Skye Bank by Central Bank of Nigeria, new Board members has been reconstituted. By reconstitution, Alhaji M.K Ahmad has been appointed as the new Chairman of the Board, while Tokunbo Abiru has been appointed as the new Group Managing Director and CEO. Messrs. Other members of the reconstituted Board are Bayo Sanni, Idris Yakubu, Markie Idowu and Abimbola Izu, all of whom were serving in the capacity of Executive Director of the Bank prior to now.

The reconstitution followed the voluntary resignation of the former Chairman, Dr. Tunde Ayeni and other Non – Executive Directors of the Bank, namely, Victor Odozi, Babajide Agbabiaka, Dr. Jason Fadeyi, Kunle Aluko, Victor Adenigbagbe, Abdul Bello and Hajiya Amunna Lawan Ali.

In the same vein, Timothy Oguntayo Group Managing Director/CEO, alongside Amaka Onwughalu, Dotun Adeniyi and Ibiye Ekong resigned their positions as DMD, and Executive Directors. All the resignations take immediate effect.

The Bank appreciated the former Board led by Dr. Tunde Ayeni, and the former Management team led by Timothy Oguntayo for their service, sacrifice and dedication to the institution.

The new Chairman of the Bank, Alhaji M.K. Ahmad in a statement earlier today, expressed optimism about the Bank, given its vast potentials and its strategic position in the economy.

He stated that:

“The Bank is well positioned to deepen the retail and commercial banking services in the economy, having put in place the critical building blocks to win in this sector. The immediate priorities of the Board and the new Management team is to quickly begin to leverage the huge investment in the enhanced branch network, technology and alternative channels to improve stakeholder value in a sustainable manner”

He further assured the shareholders, customers and depositors of the Skye Bank of his commitment to preserve their investments and deposits.


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