• About
  • Privacy Policy
  • Careers
  • Manage Subscriptions
Monday, September 25, 2023
TechEconomy
Advertisement
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Apps
      • Gadgets and Appliances
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Podcast
  • TECHECONOMY TV
No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Apps
      • Gadgets and Appliances
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Podcast
  • TECHECONOMY TV
No Result
View All Result
Techeconomy
No Result
View All Result

Home » Ten Facts about Polaris Bank

Ten Facts about Polaris Bank

Yinka Okeowo by Yinka Okeowo
October 24, 2022
in Finance
0
Sifax
Advertisements

The headlines have been buzzing with the news of the sale of Polaris bank. Here are ten important facts to note:

1.  Polaris Bank was created as a bridge bank. This means that it was created to manage the assets and liabilities of another bank which failed (in this case, Skye Bank).

RelatedPosts

Adesola Adeduntan speaks on investors in Nigeria

Why Investors of Today Will Smile to Bank in Five Years – Adeduntan, First Bank MD

September 25, 2023

How Embedded Finance is Empowering African Merchants

September 25, 2023
https://techeconomy.ng/2022/10/strategic-capital-acquires-polaris-bank-for-n50-billion/

The regulatory authorities intervened to stabilize the bank with the much-needed liquidity.

The bank has since grown and its roots are grounded in the Nigerian financial ecosystem thus now fit for ownership by competent and capable investors.

2. The new investor is Strategic Capital Investment Limited. Ponglomerape Limited is a diversified conglomerate with massive investments in the real estate, Agriculture, Manufacturing, and Consulting sectors.

The company was established to identify and implement the completion of a strategic investment in the Nigerian financial services sector, as the first step in an investment strategy focused on building a strong and robust growth platform within the Nigerian financial services sector.

3. YES. Shareholders’ funds and customers’ deposits are 100% safe and will remain so. 

4. NO. There are no planned staff layoffs.

5. Yes. There is a new board led by M.K Ahmad who is continuing in his role as Chairman Polaris.

https://techeconomy.ng/2022/10/who-are-members-of-the-new-board-scil-appointed-to-reposition-polaris-bank/

6. Yes.  There is a new management team  led by Adekunle Sonola.

7. Adekunle Sonola is a proven and experienced veteran of the banking industry, with decades of experience in executive and managerial positions in corporate banking, investment banking, and commercial banking, across several banks and multiple countries.

Under his management, the bank is poised to take banking services to the next level, as he brings to bear his wealth of experience in various areas of banking to take Polaris to the next level in delivering banking services to customers and partners.

8. NO. This is not a political transaction.

9. Yes, the current focus of the new management is on stability and growth.

10. Yes. The Central Bank of Nigeria and the Asset Management Corporation of Nigeria have fully passed on all the assets and liabilities of Polaris Bank to SCIL.

Advertisements
innovation
AIT
Advertisements
ShareTweetSend
Previous Post

Six Megatrends That Are Changing Africa – and How to Navigate Them

Next Post

Nigeria to Receive $70bn of Climate Change Investment Opportunity in Africa

Yinka Okeowo

Yinka Okeowo

Related Posts

Adesola Adeduntan speaks on investors in Nigeria
Finance

Why Investors of Today Will Smile to Bank in Five Years – Adeduntan, First Bank MD

by Techeconomy
September 25, 2023
0

World leaders from 198 countries converged in New York last week for the 78th United Nations General Assembly (UNGA) where...

Read more
Enabling African Merchants

How Embedded Finance is Empowering African Merchants

September 25, 2023
Nathaniel Nyika on Debt Financing in Africa

Why Debt Financing is so Important for the African Business Market

September 22, 2023
microfinance banks

CBN Launches Portal for Seamless Licensing of Microfinance Bank

September 21, 2023
Interswitch and Tax

Interswitch Leads the Charge towards Revolutionizing Tax Collection in Nigeria

September 20, 2023
Lagos State Debt burden

Lagos, Kaduna, Edo Top States with Highest External Debt

September 20, 2023
Next Post
World Bank

Nigeria to Receive $70bn of Climate Change Investment Opportunity in Africa

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Advertisements
Ad 15
Insurance Meet Tech
Advertisements
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
​Sodiq Tijani Toju Africa

Meet Sodiq Tijani, a Product Expert and Entrepreneur Banking the Unbanked

March 2, 2023
Product Led vs Sales Led Business Models

Product Led vs Sales Led Business Models: What Startups Should Know

January 10, 2023
Samsung Galayx A04e - Cheapest Samsung Phones in 2023

Cheapest Samsung Phones in 2023

September 11, 2023
Sodiq Tijani Youcloudpay

How Sodiq Tijani is Empowering African SMEs for Economic Growth

February 9, 2022
Google Cybersecurity Scholarship

Google Recognizes Shortage of Cybersecurity Experts in Africa, Announces Scholarships

22

Ad Dynamo Has Eyes on Nigeria – CEO

19

Digital Marketing in Africa: Bringing Much-Needed Skills to Nigeria’s Youth

16

Ad Dynamo by Aleph Group Launches free Digital Academy

14
Bosun Tijani, AI researchers and strategy and secure Internet

AfIGF 2023: Nigeria Makes Case for Open, Secure Internet

September 25, 2023
Ogun Digital Summit 2023

Ogun Digital Summit Attendees Set to Explore Impact of AI and Web3

September 25, 2023
Adesola Adeduntan speaks on investors in Nigeria

Why Investors of Today Will Smile to Bank in Five Years – Adeduntan, First Bank MD

September 25, 2023
Kehinde Ogundare Zoho Nigeria

Whole of Your Business Can Be Built on Zoho – Keninde Ogundare

September 25, 2023

Follow Us

APPLY

NCC Talent Hunt through Hackathon
Apply

NCC Extends Submission of Application for Hackathon to September 30

by Admin
September 23, 2023
0

The Nigerian Communications Commission (NCC) has extended the deadline for submission of applications and entries into the 2023 Talent Hunt...

Read more

WomenPreneurs

Hiring in South Africa by Jessica Hawkey redAcademy
WomenPreneurs

Women in Business: Q&A with Jessica Hawkey, Founder & MD of redAcademy

by Techeconomy
August 22, 2023
0

"Jessica Hawkey is the Managing Director of redAcademy"

Read more

BusinesSENSE For SMEs

Managing Difficult Customer
BusinesSENSE For SMEs

Five Keys to Managing Difficult Customers

by Techeconomy
August 23, 2023
0

You will at one point in your business be confronted with dealing with difficult customers. So, mastering the right strategies...

Read more
  • About Us
  • Career
  • Contact Us
  • Policy

© 2023 Techeconomy - Designed by Opimedia.

No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Apps
      • Gadgets and Appliances
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Podcast
  • TECHECONOMY TV

© 2023 Techeconomy - Designed by Opimedia.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.