Flaky Skin around area just below Penis Head

Flaky skin just below the head of the penis. Seems to disappear each time i moisten the surface. I can also peel off the flaky skin. This at times can be painful and causes small wounds on the penis which usually heal within 24 hours. No pain during urination. What could this be? I thought I had a Yeast infection but the symptoms just don't add up in my case. Your help will be much appreciated. Regards, Joseph.