Polaris Bank Takes Over Skye Bank

Following the withdrawal of operating license of Skye Bank Plc by the apex Central Bank of Nigeria, the Managing Director of the Nigeria Insurance Deposit Corporation (NDIC), Godwin Emefiele, has changed name of Skye Bank to Polaris Bank.

Emefiele, at a press briefing in Abuja on Friday, said an injection of N786 billion has been made into the bank with the Asset Management Corporation of Nigeria (AMCON) has been directed to commence the sale process of the bank from Monday.

The revocation of Skye Bank’s operating license follows the Central bank’s decision to pause its injection of funds processes in the lender.

The regulators maintain that customers deposits safe as management and members of staff will be retained under the new ownership structure.

Meanwhile, the share price of Skye Bank on Friday gained 4.05 percent at 77 kobo.

The stock is expected to be placed on suspension from Monday in accordance with bridge bank procedures.


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Skye Bank Merchant, Gidado Emerge Tops At mCash Re-Launch

Skye Bank mCash Merchant, Sulaiman Gidado, has emerged one of the top performing agents in the country. Nigeria Inter-bank Settlement System (NIBSS) made this known when it identified Suleiman as one of the top mCash merchants at the mCash relaunch which held in Lagos Tuesday.

Part of  the renewed efforts to further drive financial inclusion in line with the Central Bank of Nigeria’s (CBN) mandate, NIBSS, in collaboration with Banks, financial regulators, leading Telecommunications companies and merchants was the re-launched of the payment solution.

While fielding questions from the media about mCash at the event, the head of E-Business, Skye Bank Plc, Akinwale Ojo, described mcash as an innovative solution targeted at low-value retail payments

He further stated that, “The intention of mCash is to create enhanced  opportunity for people who rely mostly on cash to find convenient means of making payments electronically thus further enabling financial inclusion in Nigeria.”

On his part, the Managing Director/Chief Executive Officer, NIBSS, Adebisi Shonubi, said, NIBSS partnered banks, telecommunication companies, financial regulators, and merchants on the initiative to further drive financial inclusion.

Shonubi stated that “the relaunch, which is in line with Central Bank of Nigeria’s (CBN) renewed efforts at driving financial inclusion was the rolling of agency networks involving the banks, telcos and merchants, and is thus ecosystem driven.”

According to the NIBSS boss, “in the next two years, the plan is to have 500,000 agent networks that will provide financial services as well as educate and inform people on how the platform works.”

The mCash utilises Unstructured Supplementary Service Data, USSD code in payment processing. Merchants can deploy mCash as a payment channel by registering with their banks, who will issue them an 8-digit seller code which buyers or payers need to use while making payments to them. A customer who wants to make payments through mCash has to dial the universal code, *402*SellerCode*Amount#. Upon dialling the code, the name of the seller will appear and a list of banks a customer wishes to make payments from. The user can then select a bank and input passcode to authenticate and complete the transaction. Upon completion of the transaction, both the buyer and the seller will receive flash confirmation of debit and credit messages instantly.



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Abiru Charge New Skye Bank Employees On Integrity And Professionalism

Tokunbo Abiru, Skye Bank CEO, has charged the bank’s newly hired employees on the need to embrace integrity and professionalism as key ingredients for a successful banking career in the era of openness and internet of things.

Abiru gave this charge while speaking at the graduation ceremony of Skye Graduate Intensive Training (SGIT), which held at the Skye Business School, Ibadan at the weekend

Addressing the new staff who emerged through the bank’s popular ‘Skye Graduate Intensive Training (SGIT) the Skye bank Group Managing Director, advised that their professionalism will ultimately impact positively the financial sector.

“In addition to exuding the qualities of the ideal Skye Persona, you must embrace the attitude of openness, demonstrate knowledge of the policies of the bank, respect constituted authorities; as well as treat the customers with utmost regard. Most importantly, you must set targets and goals for your selves at all times”, the CEO admonished.

Abiru who was represented by Dr. Ayo Abina, Directorate Head, Southern Business, said, the bank places a high premium on staff training and manpower development as a way of building an informed and competent work force to enable the employees excel in their assigned tasks.

“You have been trained to be professionals and leaders, who will make the difference in any area of the bank you are deployed to. You are undergoing today’s graduation not because we sought to do you a favour, but because you emerged successful from amongst thousands of Nigerians that sat for the same examination”, he emphasized.

The Skye Bank boss advised the newly inducted employees to continue to seek new knowledge in order to become knowledge based employees, charging them to commit their time in the bank to problem solving, rather than being willing wailers in the face of challenges.

Earlier, Skye Bank’s Head of Human Capital Management, Mr. Taiwo Olupeka, said the 53 graduands were the successful lot among the over 2,000 candidates who sat for the bank’s recruitment test.

Olupeka described them as the ‘best of the best’ after a very rigorous and thorough exercise, charging them to do their best to make the bank the first and leading commercial bank in the country.

A Mathematics graduate from Anambra State University, Pamela Chikezie, was the best graduating student from stream 41 while a Banking & Finance graduate from Michael Okpara University Umudike, Prince Emmanuel, was the best student from stream 42 after the 9 weeks of intensive training.

The best graduating students; Pamela Chikezie and Prince Emmanuel said they were overwhelmed on hearing their names as the best students of their respective streams particularly because of how keenly competitive and extremely intensive the training was.

Expressing gratitude to the bank, Prince had this to say, “I look forward to putting the same kind of effort that earned me the accolades during the 9 weeks intensive training to my job.” He thanked Skye Bank on behalf of the graduating students for the rare opportunity to work in the organisation.

The new employees who are largely fresh higher institution graduates with diverse academic backgrounds

Skye Bank is Nigeria’s leading retail bank with wide-ranging electronic solutions promoting consumer lifestyle and e-commerce experience for its customers.

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CBN Renews Mandate Of Skye Bank Board

The regulatory Central Bank of Nigeria (CBN) has renewed the mandate of the Board of Skye Bank for additional two years.

The Board has Mr. M.K Ahmad and Tokunbo Abiru as its Chairman and Group Managing Director respectively.

This was contained in a notice sent to the Nigerian Stock Exchange for the attention of regulators, shareholders and customers, signed by the Company Secretary/General Counsel of the Bank, Mr. Babatunde Osibodu.

On July 4 2016, the Central Bank of Nigeria (CBN) had intervened and reconstituted the Board of Directors of Skye Bank to pave the way for a new team to take charge of the affairs of the Bank and resolve various issues that were hindering the optimal performance of the institution. Accordingly, the Apex Bank gave the Board a clear mandate to turnaround the fortunes of the institution positively.

Acknowledging the support of the Central Bank of Nigeria so far, Mr. Osibodu noted, “We wish to inform the Nigeria Stock Exchange, the Bank’s esteemed shareholders and other stakeholders that the Central Bank of Nigeria (CBN) has renewed the mandate of the Bank’s Board of Directors for an additional two-year term till June 30 2020”, the notice read.

According to Mr. Osibodu, “In the two years of the Board’s mandate, the team has stabilized of the institution, entrenched sound corporate governance and risk management practices, and restored depositors’ confidence”.

Continuing the notice read: “In recognition of the stellar performance of the Board, the CBN has renewed the Board’s mandate for an additional two-year term till June 30, 2020.

“We wish to assure the Bank’s shareholders and all stakeholders of the commitment of its Board and Management, working with the CBN and other regulators, to conclude various initiatives to achieve a positive and lasting turn around for the Bank and deliver value to its stakeholders”.

Recall that within two year of assumption of duty of the reconstituted board, it achieved laudable milestones especially as it concerns recovery in excess of over N94bn in bad loans from chronic debtors, streamlined its branch network; divested from four local subsidiaries. It also enhanced collateral documentation and its overall risk management practices, among several other transformational initiatives.

Skye Bank assures its stakeholders: customers, employees, shareholders, institutional partners and regulators of its continuing commitment to the success and sustainability of the institution.

Skye Bank, a Systemically Important Bank (SIB), is one of Nigeria’s  retail banks and a leading franchise in electronic banking services as well as a leading agent in money transfer services promoting consumer convenience and lifestyle in Nigeria.

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Skye Bank Set To Produce Yet Another Millionaire In Its ‘Reach For The Skye Millionaire’ Reward Promo

Another moment of excitement is here again for Skye Bank customers to reach for the Sky and achieve their dreams, as the bank’s ‘Reach for the Skye Millionaire’ reward promo train moves to Port Harcourt, Rivers State.

 At the draw, scheduled to hold tomorrow, Tuesday June 26, 2018, new and old customers of the Bank, stand a chance to win N1,000,000 and other monetary and material rewards.

The reward promo which has seen several customers of the Bank winning N1million, and other consolation prizes, will open up for more winners at Mile 3 Market Park, Port Harcourt, Rivers State with another millionaire emerging through a transparent electronic draw under the watchful eyes of the officials of Consumer Protection Council (CPC) and National Lottery Regulatory Commission(NLRC).

Customers will have a chance to win various cash prizes including N100, 000 for 10 customers, N50, 000 for another 10 customers and N20, 000 for 20 loyal customers exists every month throughout the period of the scheme. Gift items such as table top fridge, generator, table top gas cookers, mobile phones, blenders and recharge cards are also available to be won.

Since it was introduced, the Skye Bank ‘Reach for the Skye Millionaire’ reward promo has been changing the lives of many for the better. The initiative, which is open to all individual savings account holders in the bank, has produced previous millionaires including Olusola Olusegun Ezekiel of Ikorodu branch in Lagos; Elizabeth Ohaeme of Mgbidi branch in Owerri and Buhari Aminu of Ibrahim Taiwo branch in Kano and other consolation prizes, meant to encourage savings culture amongst the retail market segment.

Speaking on the Bank’s commitment, Group Head, Product & Innovation, Skye Bank Plc. Ndubuisi Osakwe said “the reward initiative provides a unique opportunity for the Bank to stay in touch and reward its savings customers, who have unique roles to play in the country’s economic expansion”.

Part of activities lined up for the event is the instant reward for people who open any savings account during the draw as well as the electronic draw for cash prize winners. The instant reward items at the draw venue include: generator sets, refrigerators, blenders, phones, table gas cookers and even recharge cards.

Skye Bank is Nigeria’s leading retail bank with wide-ranging electronic solutions promoting consumer lifestyle and e-commerce experioence for its customers.

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Skye Bank Recruits Entry Level Staff Nationwide

Skye Bank has announced plans to recruit fresh graduates into its employment at entry level.

 The recruitment exercise aims to create employment opportunities for young employees into the organization whilst positioning  the bank for improved competition in retail banking services across the country.

Candidates wishing to apply are expected to visit the bank’s website at www.skyebankng.com, fill the form and submit online.

Speaking on the recruitment exercise,  the Group Head, Human Capital Management of the bank, Mr. Taiwo Olupeka, stated: “We remain an employer of choice and as a responsible corporate citizen, we are poised to create fair opportunities for young Nigerians to  attain their career aspirations in one of Nigeria’s leading financial institutions. This step also enables us address in some measure the menace of youth unemployment in Nigeria”.

 The recruitment process involves the selection of qualified candidates from a pool of applicants across the country who will be taken through a 9-week  rigorous training at the bank’s Training Schools before absorption  into the system as full employees.

Skye Bank operates  a world class Business School which enjoys the full accreditation of the Chartered Institute of Bankers of Nigeria (CIBN) as a banking/finance, business and continuous human capital training academy.

The fully residential Skye Business School runs two campuses in Ilupeju, Lagos and Eleyele, Ibadan both with state-of-the-art facilities and  conducive learning environment running robust programs including but not limited to; Skye Graduate Intensive Program (SGIT) and Onboarding Program for Experienced Hires. The school has graduated over 1,294 officers from 27 streams of its flagship Skye Business School graduate trainee (SGIT) program since its inception in 2006.

Skye Bank is a  leading retail bank in Nigeria with wide-ranging electronic solutions promoting consumer lifestyle and digital banking experience for its customers.

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Skye Bank Empowers Students With Financial Literacy

The Group Managing Director and Chief Executive Officer, Skye Bank Nigeria Plc, Tokunbo Abiru, has advised students in secondary schools across the country to take money matters seriously if they wish to be in control of their financial future.

He gave the advice while delivering a lecture during a one-day seminar at Rayfield International Secondary school, Nsukara Offot, Uyo, Akwa Ibom State.

The seminar, facilitated by Skye Bank Nigeria Plc, was to mark the 2018 Global Financial Week organised by the Central Bank of Nigeria in collaboration with Junior Achievement Nigeria. The theme for this year’s edition is “Money Matters Matter”.

The Global Money Week is celebrated worldwide. March 15, 2018 is however chosen by the CBN and Junior Achievement Nigeria to teach the younger generation the virtues of financial planning and management aimed at increasing the level of financial literacy while boosting the financial inclusion drive of the CBN.

Represented by Raphael Abiaziem, the bank’s Regional Manager, South-South, Abiru said that the financial week celebration is aimed at empowering young people with financial knowledge that will rightly position them for the future.

He said, “Money Matters matter,” adding that “children and youth need to receive the knowledge and develop skills necessary to make smart financial decisions throughout life.”

Mr. Abiru noted that: “Financial Literacy is an essential life skill that is lacking in our educational curriculum which should be part of the education that we give to our children to prepare them for the realities of the world out there.

“We want young people to learn how to manage their money wisely so they can become financially empowered and form part of a critical mass that will spread financial and entrepreneurial education in the country.”

The GMD/CEO further stated that what the students have learnt would help them organise and plan their lives so that they can confront the challenges of the future.

He added that “if they learn how to save at this stage, no matter how little, and they maintained it over time, they would become financially independent. He also noted that Skye Rainbow account (a savings account targeted specifically at children in primary and secondary schools offers every child the opportunity to start laying the building blocks for their future.

“Our commitment to financial inclusion is unwavering and this is why we will continue to be in the vanguard of ensuring that we reach out to both the unbanked and the under-banked in our communities, helping them see the importance of savings and its long-term benefits,” he emphasised.

Earlier in his address, the school Principal, Mr. John Bassey, commended the bank for its public spirited disposition to capacity building, education and youth development and specifically lauded management for its support to the school and pupils.

“I am altogether pleased with this initiative and I am particularly excited that my school was chosen as one of those to benefit from the program,” he added.

The highlight of the event was the presentation of a cash gift to the best interactive student, Blessing Emmanuel Edeke, who is also the school’s head girl. The money was used to open an account for her instantly.

A total number of about 40,000 students in six schools spread across the six geopolitical zones of the country benefitted  from the financial literacy seminar.

Skye Bank is one of Nigeria’s leading retail bank with wide-ranging electronic solutions promoting consumer lifestyle and e-commerce experience for its customers.

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Skye Bank Bags Two Prestigious Web Jurist Award

Skye Bank has shown strong leadership in online innovations in the Nigeria’s banking industry, as its website, www.skyebankng.com recently clinched the overall winner in two categories, namely; “web content” and “accessibility” of the 2017 edition of the highly coveted Web Jurist Award conducted by Philips Consulting.

The bank was also ranked among top contenders like Access Bank; Zenith Bank and United Bank for Africa, an improvement on the previous year’s performance.

Recall Skye Bank’s rating by Phillips Consulting in 2017 recorded an improvement from 2016 when it was rated 8th behind Ecobank’s which emerged overall winner at the time and 18th position in 2015.

All these feat shows Skye Bank’s website is one of the most improved, beating other lenders in that space and the success is inseparable from the bank’s heavy investment in the upgrade of its website and the robust real-time content strategy it deployed.

The Web-Jurist rating and awards is an initiative of Phillips Consulting Limited, aimed at measuring the effectiveness of websites in the private sector, to ensure continuous enhancement of e-business activities and encourage better web communications practice.

The Consulting giant had carried out a detailed evaluation of the websites of 20 commercial banks, 103 Federal Government parastatals, 29 state governments, 47 insurance companies, four telecommunication companies and seven indigenous airlines.

Reacting to its shine at the Web Jury Awards, Skye bank quoting its Group Managing Director/CEO, Tokunbo Abiru noted that the gesture emphasizes the bank’s commitment to provide its online stakeholders with accurate, relevant and timely information at all times.

“Winning the best web content and accessibility award is a significant accomplishment and demonstration of the Bank’s commitment to provide its online stakeholders with accurate, relevant and timely information at all times and eliminate barriers that prevent interaction with the website,” Mr. Abiru noted.

He also noted that “industry leadership in the digital space is one of Skye Bank’s value propositions to its customers and as such, “we find our ranking encouraging, notwithstanding that our website is work in

Progress.”Our digitization initiative and journey is intended to instill a memorable experience that aligns with the lifestyle of our online customers.”

The web jurist awards which commenced in 2001, evaluates the effectiveness and performance of Nigerian websites based on set criteria agreed by e-business experts from Philips Consulting. Winners are selected in categories that include: Aesthetics; technical aspects; website content, e-financial services, customer experience and performance. The award also recognizes other organizations across Banks, discount houses, telecommunication and insurance firms.

Skye Bank Plc., one of the leading banks in Nigeria and also a pioneer in electronic banking, embraced technology in service delivery at inception and has consistently applied it to delight its customers.

The bank provides convenient and innovative electronic banking products and services to drive customer satisfaction, business growth and seamless management of business processes. It also ensures high level of security to ensure its customers are protected. The bank’s wide range of electronic channels and solutions – ATM, PoS, web, mobile and internet banking, are efficient and top rate.

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Skye Bank Customers Await Millionaire Reward Draw In Benin, Edo State

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Skye Bank, Six Others Awarded Platinum Prize As Top Donors Of Lagos Security Trust Fund

Skye Bank Plc., one of Nigeria’s leading retail commercial banks and six other companies have been commended and awarded platinum prize for committing huge resources in support of securing lives and property in Lagos State.

The top donor awards to Skye Bank and six organisations were part of the activities at the 11th Town Hall Meeting on Security with the Governor of Lagos which coincided with the 10th anniversary of Lagos State Security Trust Fund (LSSTF) which took place on Wednesday in the new Banquet Hall at the Governor’s Office in Ikeja, Lagos.

Handing over the award to the ‘Platinum 7’, at the well-attended meeting which had all stakeholders in security circles present, Lagos State Governor, Akinwunmi Ambode, commended the companies for partnering with the state government through LSSTF to secure lives and property in the state by committing huge resources to the fight against criminality in the megacity.

Ambode noted that “Security is the most expensive venture of government and the most important responsibility of government. Insecurity is capable of disrupting any worthwhile activity. It can reduce successes into ruins. We as a government and good citizens of our country understand that security is the bedrock of peaceful coexistence and we should be proud of what we are and what we have achieved together in the last decade”.

While pledging to commit more to the security of the state, Governor Ambode promised to acquire 30 brand new BMW power bikes before Christmas meant to scan and comb the metropolis and report to relevant agencies any development for swift action, among other far-reaching decisions that were the outcome of the meeting, among which is a planned security summit to hold in quarter 1 of 2018.

Commenting on the award, the Group Managing Director/Chief Executive Officer of Skye Bank, Mr. Tokunbo Abiru, thanked the State Governor, LSSTF and other stakeholders for recognizing the efforts of the bank in combating crime in the state.

Abiru noted that, there can be no meaningful progress where the peace of the state is under security threat. He used the opportunity to reach out to well-meaning Lagosians and residents in the state, especially the business community, to join hands with “the rest of us who have demonstrated corporate citizenship by supporting the state to combat crime.”

The Skye Bank boss was ably represented by the directorate head, Lagos Business, Segun Opeke, who received the award from the state Governor.

Earlier, Chairman of the LSSTF, Mr. Hassan Oye-Odukale traced the history of the fund and commended the initiative and the transformation that it has had on crime fighting which according to him has become a model being copied by the federal, states and even other countries.

“Over the 10 year period, the Fund, which was the first of its kind, has become a source of succor to Lagosians and a shining example of an endearing Public Private Partnership in the country as a whole such that state Governments and even the federal government have sought to understudy the Fund to replicate it”

Executive Secretary and CEO of LSSTF, Dr. Abdul Razaq Balogun and the State Commissioner of Police, Edgar Imohimi in their address, took participants down memory lane of how Lagos was before the establishment of the Fund, and current security situation in the state while commending personalities who ensured the success of the initiative, including erstwhile Skye Bank CEO, Kehinde Durosinmi-Etti and the Directorate Head, South, Dr. Ayodele Abina

LSSTF was established a decade ago to mobilise private sector funds to provide the needed financial muscle in the fight against robbery and other violent crimes in the state.

The six other companies are; Zenith Bank Plc; First Bank Plc; United Bank for Africa (UBA); Access Bank Plc; Dangote Group and MTN Foundation.

Skye Bank and the six other organisations honoured at the meeting are said to have committed over a quarter of a billion each over the last decade to the security trust fund.

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Skye Bank Storms Abia State Polytechnic With ‘Ref ‘n’ Win’ Promo

Following the success it recorded at Obafemi Awolowo University recently, Skye Bank PLC, is set to storm Abia State Polytechnic, Aba to promote its ‘Ref n Win’ campaign which provides students and the academic communities an opportunity to experience convenient and accessible banking offerings at their doorstep.

The campus storm exercise starts Monday, November 4 through Thursday, November 7.

The Campus Plus ‘Ref n Win’ promo is aimed at rewarding campus plus account holders who have referred their school mates and friends to open an account with the bank. Those who refer friends get to earn a commission on account opened and qualifies for prizes ranging from N25, 000, N50,000. They also stand a chance to partake in the grand draw to win a Brand New KIA Salon Car at the end of the promo.

According to the bank’s Group Head, Product and Innovation, Mr. Ndubuisi Osakwe, “the bank will be at the Abia State Polytechnic, Aba for a week-long storm to educate, engage, and introduce its CampusPlus solution and associated products and services, amidst fun-filled activities to promote savings culture and banking convenience for undergraduates and the youth segment at large.”

In addition, Osakwe noted that the Bank will use the opportunity of the storm to introduce array of its banking products and services to the Polytechnic community and its environs, among which is the flagship SkyeXPerience banking service.

Other locations to be visited by the bank after Abia include one higher institution in the northern parts of the country. The Bank is therefore encouraging the youth populations and the academic communities at these locations to avail themselves of the exciting activities, networking and the products and services the events would offer to support their businesses and lifestyles.

Skye Bank is Nigeria’s leading retail bank with wide-ranging electronic solutions promoting consumer lifestyle and e-commerce experience for its customers.

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