Inside Details As CBN “Revokes” Skye Bank’s License

It is true that the financial institution known as Skye Bank is no more.

But checks by societynow.ng revealed this development is only in name.

A bridge Bank known as Polaris Bank is already in place to safeguard the interests of customers, investors, workers and the related public of the bank.

Societynow.ng learned the new investors would retain the structure of “Skye Bank” to ensure easy transfer of assets and continuing seamless flow of operations.

“There is no cause for alarm. The issue is best likened to transfer of ownership of a business concern and it comes with a very big boost for customers and others involved with the taken over structure” a source disclosed to societynow.ng.

Societynow.ng learned Polaris, the new bank that rises out of the ashes of the defunct Skye Bank comes with a spanking new image – and huge fund and ideas to make things happen.

“The interest of the customers of the former Skye Bank is very much protected. In fact, they are in for a far better deal with the emergence of Polaris Bank” an insider disclosed.

Societynow.ng learned the Central Bank of Nigeria would be dishing communications to address fears of the public of the former Skye bank all through the weekend.