Skye Bank Postpones AGM, Its Books Need More Audits

skye Bank

Skye Bank PLC has just announced the postponement of its annual general meeting, AGM.

In a statement released by the bank, Skye Bank PLC said it “hereby notifies all stakeholders that further to its publication of September 20, 2016,

The bank said “it has received regulatory approval to postpone its AGM earlier scheduled to be held on October 13, 2016, to consider the 2015 Annual Financial Statements”.

The statement added that “The postponement of the AGM is necessitated by the need to give our external auditors time to complete an Interim Audit of the Bank which is in the final stages.

For all interested parties, Skye Bank said “The AGM will be rescheduled at the appropriate time. We also wish to assure you of our commitment to good governance and prompt disclosures and will apprise you of the new AGM date in due course”.

Skye Bank has been bedevilled by series of challenges that led to the sacking of its entire management by the Central Bank of Nigeria, CBN. The CBN has gone ahead to inject about NGN110 billion in the bank.

In August, the CBN defended the bank after series of media reports suggested that Skye Bank would fold up as a result of its low capital adequacy ratio and the sacking of its board by the CBN. The CBN in a media statement said “Skye Bank is neither insolvent nor in distress.

This is however the opposite of what could have transpired as the CBN did not allow the bank to falter by injecting funds into its system.