Defunct Skye Bank: Finance minister wants CBN, NDIC to prosecute directors

The Minister of Finance, Mrs Zainab Ahmed, has urged the (CBN) and Nigeria Deposit Insurance Corporation (NDIC) to investigate and prosecute directors that led to the collapse of the defunct Skye bank.

The minister said this in a statement by the Head, Communication and Public Affairs of the NDIC, Mr Mohammed Ibrahim, on Friday in Abuja.

According to the statement, Ahmed made the call when she visited the Management of NDIC, led by its Managing Director and Chief Executive, Alhaji Umaru Ibrahim in Abuja.

She also urged the CBN to prosecute all other executive management that contributed to the collapse of other Deposit Money Banks (DMBs) in the country.

The minister expressed concern about the spate of non-performing loans in the banking industry. She said the bail-out of distressed financial institutions was necessary in the interest of the stability of the banking system.

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