Skye Bank liquidation: ASSBIFI to meet Polaris bank`s mgt

The National President of the Association of Senior Staff of Bank, Insurance and Financial Institutions (ASSBIFI), Mrs. Oyinkan Olasanoye, yesterday, said the union will soon meet the management of Polaris Bank on its position on the welfare of the workers it inherited from the recently liquidated Skye Bank. The Central Bank of Nigeria (CBN) had […]

The National President of the Association of Senior Staff of Bank, Insurance and Financial Institutions (ASSBIFI), Mrs. Oyinkan Olasanoye, yesterday, said the union will soon meet the management of Polaris Bank on its position on the welfare of the workers it inherited from the recently liquidated Skye Bank.

The Central Bank of Nigeria (CBN) had on Friday announced the takeover of Skye Bank and changed its name to Polaris Bank after injecting N786bn into the bank. CBN has asked the Asset Management Company of Nigeria (AMCON) to commence sale of the new bank from Monday, September 24.

Mrs. Olasanoye, however, said the process of the sale might take a few years and did not call for panicky measures.

She said, “ASSBIFI as a critical stakeholder is studying the situation and will soon engage the new management of Polaris Bank in concrete discussions on the mission of the bank and welfare of our members.”