The Central Bank of Nigeria (CBN) yesterday revoked the license of Skye Bank, and transferred its assets and liabilities to a newly licensed bridge bank called Polaris Bank.
Meanwhile, the Nigeria Deposit Insurance Corporation (NDIC) has sold Polaris Bank to the Asset Management Corporation of Nigeria (AMCON) with the mandate to stabilise the bank as well as return it to profitability for the purpose of selling it to interested Investors.
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