The Central Bank of Nigeria (CBN) 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.
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