[fm]: Nigeria's Central Bank sacks Skye Bank execs over capital issues

Nigeria's central bank has sacked top executives of Skye Bank over capital adequacy issues, a source with knowledge of the matter told Reuters on Monday.

Chief Executive Timothy Oguntayo, who led Skye Bank to acquire nationalised lender Mainstreet Bank in 2014, resigned before a central bank announcement on Monday, the source added.
Last year, the central bank gave three commercial banks until June 2016 to recapitalise after they failed to hit a minimum capital adequacy rate of 10 percent.




By: Reuters. 

Reporting: Chijioke Ohuocha. 

Editing: Alexis Akwagyiram and Louise Heavens.

Photo: This Day Live.

Review: Emerging Market Formulations & Research Unit, FLAGSHIP RECORDS.
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