Skye Bank completes acquisition of Mainstreet Bank

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Skye Bank Plc has disclosed that it has taken full control of Mainstreet Bank Limited following the hand-over of the MBL to it by Asset Management Corporation of Nigeria, AMCON.



In a notice informing the Nigerian Stock Exchange, NSE, of the completion of the take- over, Skye Bank said that the hand-over followed approval by the relevant regulatory authorities.

The hand-over which took place December 18, 2014, saw the directors of Mainstreet Bank resigning their appointments and new management appointed in their stead.

In their place, an interim Management Board comprising of Mrs. Amaka Onwughalu, (Deputy Managing Director of Skye Bank), and Mr. Dotun Adeniyi (Executive Director of Skye Bank) was constituted.

Mrs. Onwughalu was appointed to the Board of Skye Bank Plc on November 30, 2008 and she is an astute bank administrator with over 27 year experience.