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Skye Bank : Minister Of Finance Urges CBN And NDIC To Prosecute Defaulting Directors.

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In a statement issued by the Head, Communication and Public Affairs of the NDIC, Mr Mohammed Ibrahim, on Friday in Abuja. The Minister of Finance, Mrs Zainab Ahmed, urged the Central Bank Of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDIC) to apply due diligence and legal procedures in investigation and prosecution of directors that led to the collapse of the defunct Skye bank.

Moreover, the minister expressed concern about the situations of non-performing loans in the banking industry. She said the proper scrutiny and error-checks will help to stabilize the dilapidating banking industry. Stressing on the need to bring to law individuals and organizations involved in the closure of the defunct Skye Bank now Polaris Bank. She urged the CBN and NDIC to take proper investigations and bring them to order as these will serve as a deterrent to any bank or individuals trying to destabilize the banking industry of the country at their own interest.

She also urged the CBN to look out into other collapsed banks and bring to order individuals or managements involved.
She said:
“The Federal Government regards the NDIC as a critical player towards the actualisation of its Economic Recovery Growth Plan (ERGP).

The NDIC Boss assured the Minister that the corporation will investigate and prosecute managements or persons involved and also make sure the debts owed by the defunct Skye Bank is recovered.

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