How will Skye Bank meet the capital requirement of the Central Bank of Nigeria (CBN) when some directors owe it to the detriment of the already rising Non Performing Loans (NPLs)?
Tunde Ayeni, a former chairman of the bank borrowed a total of, N237 billion: Jason Fadeyi, (N90 billion): Jide Omokere, (N70 billion): Deji Tinubu, (N20 billion).
This makes a total loan of N412 billion. The N412 billion director’s loans are 59.34 of the total loans and advances in the balance sheet.
Skye bank’s capital CAR in the nine months through September was 17.30 percent, as analysts suspects it made a material loss in Full Year 2015 results. Liquidity ratio was 30 percent in the same period.
Nigeria replaced top management at one of its lenders for breaching cash and liquidity ratios, a move that may signal stresses are deepening in the banking industry of Africa’s biggest economy.
The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort. If required, readers should please consult a competent professional financial adviser for any investment decision.