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Experts still worried over retaining Skye Bank chiefs as Minister orders probe, trail

Since the change of just name and logo of former Skye Bank to Polaris Bank by the Central Bank of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDIC) on grounds of poor management of the bank, observers have continued to query the meaning of the entire process.
According to experts, there is no logical meaning in changing just the name and logo of a failed bank, inject record breaking public fund (N786bn) and still retain the supposed killers of the bank to manage the new injection.
However, the stand-in Minister of Finance, Zainab Ahmed, weekend directed the CBN and NDIC to sack, investigate and prosecute serving directors that led to the collapse of Skye bank.
A statement signed by the Head, Communication and Public Affairs of the NDIC, Mr Mohammed Ibrahim, in Abuja, revealed Mrs. Ahmed made the call when she visited the Management of NDIC, led by its Managing Director and Chief Executive, Alhaji Umaru Ibrahim in Abuja, stressing that global best practices made it clear and mandatory that the CBN must prosecute all the executive management that contributed to the collapse of other Deposit Money Banks (DMBs) in the country.
It was not clear if why the CBN and NDIC were foot-dragging on the probe was based on the fact that the management that failed the bank were appointed by both agencies in 2016 when the bank management was sacked.
CBN had in 2016, sacked the original board of Skye Bank, appointed new team and injected N100bn before the latest had-to-explain action on the bank by the same federal agencies.