The Central Bank of Nigeria, CBN, on Wednesday, said that no bank in the country was distressed. The CBN in a statement issued by Mr Isaac Okorafor, the acting Director, Corporate Communications, said the replacement of Skye Bank’s board and management was “a proactive regulatory action” to ensure the bank remained strong. Read the full statement below: “The attention of the Central Bank of Nigeria (CBN) has been drawn to malicious rumours and unfounded speculations that some banks in the country may have gone or may be going into distress. “The CBN wishes to reiterate in the strongest terms that these rumours and speculations are untrue and do not reflect the actual health of the individual banks and, indeed, the entire banking industry. “For the avoidance of doubt, the infusion of a new Board and Management for Skye Bank Plc is a proactive regulatory action meant to ensure that the bank does not continue to fail in its relevant prudential ratios. “Neither Skye Bank nor any othe...
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