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Old Wine In New Bottles: Consistent Tales Of Fraud Trails Skye Bank Plc*** Yet Another Manager Jailed





Prior to now, there were those who held the position that though there was a new management in charge, nothing had really changed in Skye Bank Plc.


These set of individuals were of the opinion that the supposed new management of the bank led by its Chairman Alhaji MK Ahmad and its new Managing Director Tokunbo Abiru were akin to old wine in new bottles.


Their position, might have just been justified with the recent conviction of a Skye Bank Plc manager in Jos, Plateau State.


Reliable and verifiable information revealed that the manager identified as Tajudeen Yusuf was jailed for one year having defrauded one Alhaji Usman Tetengi of the sum of N200m.


Judgment was secured by the Economic and Financial Crimes Commission (EFCC), before Justice Ambrose Alagwa of Federal High Court 1, Jos Plateau State.


The above scenario might just have confirmed speculations that nothing palatable is happening at the bank.


Prior to the assumption of office by the new management, Skye Bank had a sad tale of its inability to hit minimum capital adequacy rate of 10 percent. Asides this, tales of corruption and misappropriation maligned the financial institution.


Today, the inadequate capital radio issue might have been resolved, however stories of corruption and fraud continues to trail Skye Bank Plc.



The bank is currently in court with several organisations over one issue of fraud or the other. Most recently, talks of its legal matter with Centrespread Advertising were all over town, as the bank sought to make the later pay the sum of N525million as outstanding indebtedness to it.


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