The SFS Group currently consists of two companies, SFS Financial Services Limited and SFS Capital Nigeria Limited. SFS Financial is licensed by the Securities & Exchange Commission (“SEC”) as an Issuing House/ Investment Bank, while SFS Capital is licensed as a Fund/Portfolio Manager. The SFS Group is a product of a Management Buy-out of Skye Financial Services Limited, which operated as the investment banking and investment management subsidiary of Skye Bank Plc. The change began as a result of the mandate by the Central Bank of Nigeria’s (“CBN”) instructing all Nigerian banks to sell off their non-banking subsidiaries. Skye Bank Plc offered its 100% stake in Skye Financial Services Limited to interested investors. After a thorough and transparent process, The divestment eventually cumulated in the sale of Skye Financial Services Limited to an entity formed by its existing management. Coincidentally during the divestment of Skye Financial Services Limited by Skye Bank Plc.’ the SEC began implementing the rule preventing any asset management company from engaging in other activities; like Issuing House. As a result, the investment management business of Skye Financial Services Limited was ‘Carved-Out’ to form SFS Capital. Both the Newly formed SFS Financial Services and SFS Capital have similar shareholding structure and therefore are now part of a larger group now branded “SFS Group”.