159:
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262:, the governor of the Central Bank of Nigeria announced in Lagos that the apex bank had revoked the operating licence of Skye Bank. He also stated that the assets and liabilities of the bank would be taken over by a new entity, Polaris Bank due to the inability of the Skye Bank's shareholders to adequately recapitalise the bank after the 2016 intervention.
272:
On 20 October 2022, the
Central Bank of Nigeria (CBN) and the Asset Management Corporation of Nigeria (AMCON) announced the sale of 100 per cent of the equity in Polaris Bank to Strategic Capital Investment Limited, which paid an upfront consideration of N50billion (approximately US$ 115 million).
273:
They also agreed to pay N1.305 trillion (approx. US$ 3 billion) in bonds that CBN and AMCON had injected into
Polaris. As a result of this transaction, CBN and AMCON recovered all the capital that had been injected into Polaris since 2018.
213:. As of September 2010, the bank's total assets were valued in excess of US$ 3.9 billion (NGN:611.5 billion), with shareholders' equity of approximately US$ 630 million (NGN:98.4 billion).
330:
On
January 10, 2024, the regulatory Central Bank of Nigeria (CBN) dissolved the board and management of Polaris Bank and appointed Kayode Lawal as the new chief executive officer.
523:
276:
On
January 10, 2024, the regulatory Central Bank of Nigeria dissolved the board and management of Polaris Bank and appointed Kayode Lawal as new Chief Executive Officer.
246:
In May 2021, the bank introduced launched VULTe, its
Digital Banking platform ." The bank also offers Internet banking and mobile banking. In 2014, the bank acquired
221:
The bank traces its origins back to 1989 when
Prudent Bank Plc., was incorporated as a limited liability company. In 1990, the bank was issued a license as
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225:. That same year, it re-branded as Prudent Merchant Bank Limited. In 2006, Prudent Merchant Bank Limited merged with four other Banks to form
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In August 2022, management of
Polaris Bank denied reports that the bank was being sold to Auwal Lawan Abdullah, a relative of
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Following the acquisition by
Strategic Capital in October 2022, Adekunle Sonola became the chief executive officer.
193:, the country's banking regulator. In October 2022, the bank was acquired by Strategic Capital Investment Limited.
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in all parts of
Nigeria. The bank maintains her headquarters at 3 Akin Adesola Street,
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805:"Polaris Bank in Safe Hands, No Need to Panic—Management | Business Post Nigeria"
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730:"CBN revokes Skye Bank's licence, Polaris Bank to take over assets - TheCable"
626:"MainStreet Bank, Acquired by Polaris Bank Ltd. on October 31st, 2014 | Mergr"
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680:"Breaking: Skye Bank's operating licence revoked by CBN - Vanguard News"
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Polaris Bank
Limited maintains an interlinked branch network of over
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171:
910:"Meet Adekunle Sonola, the new MD/CEO of Polaris Bank Limited"
570:"Skye Bank takeover: A journey from Afribank to Polaris Bank"
443:"Central Bank of Nigeria: List of Licensed Commercial Banks"
653:"CBN revokes Skye Bank's licence, Polaris Bank takes over"
541:"A Decade after, Like Lehman Brothers, Like Skye Bank?"
498:"Strategic Capital acquires 100 equity in Polaris Bank"
201:
Polaris Bank is a large financial services provider in
706:"BREAKING: CBN Revokes Skye Bank's | Sahara Reporters"
934:"Profile: Omokayode Lawal, Polaris Bank's new MD/CEO"
781:"Polaris Bank not sold, management debunks fake news"
755:"Why CBN revoked Skye Bank licence - Vanguard News"
594:"Nigeria: Skye Bank Unveils First Mastercard Verve"
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884:"Innocent Ike appointed acting MD of Polaris Bank"
502:The Guardian Nigeria News - Nigeria and World News
416:"The Board of Directors of Polaris Bank Limited"
324:was Innocent Ike, appointed in September 2020.
469:"Nigeria's Central Bank takes over Skye Bank"
8:
30:
441:Central Bank of Nigeria (5 November 2018).
827:"CBN, AMCON Announce Sale Of Polaris Bank"
521:Unaudited Financial Report: September 2010
387:"NSE suspends trading on Skye Bank shares"
312:is M. K. Ahmad, who chaired the 16-member
157:
36:
29:
856:"Meet the new directors of Polaris Bank"
189:based in Nigeria. It is licensed by the
882:Awojulugbe, Oluseyi (August 29, 2020).
377:
385:Vanguard Nigera (22 September 2018).
7:
539:Obinna, Chima (24 September 2018).
651:Nike Popoola (21 September 2018).
25:
467:Udo, Bassey (21 September 2018).
854:Mark Itsibor (11 January 2024).
825:Mark Itsibor (20 October 2022).
414:Polaris Bank (5 November 2018).
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48:Privately Owned Commercial Bank
1001:2018 establishments in Nigeria
568:OMEJE, Chikezie (2018-09-22).
1:
496:Iyatse, Geoff (2022-10-21).
779:olufemiajasa (2022-08-05).
236:EIB International Bank Plc.
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908:Ugwu, Chris (2022-10-22).
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991:Companies based in Lagos
704:siteadmin (2018-09-21).
606:. Lagos. 27 January 2011
526:January 4, 2011, at the
361:List of banks in Nigeria
27:Nigerian commercial Bank
447:Central Bank of Nigeria
366:List of banks in Africa
322:group managing director
318:chief executive officer
248:Mainstreet Bank Limited
191:Central Bank of Nigeria
127:chief executive officer
74:September 24, 2018
1006:Victoria Island, Lagos
972:As of 11 January 2024.
290:Victoria Island, Lagos
258:On 21 September 2018,
242:Co-operative Bank Plc.
95:Victoria Island, Lagos
310:chairman of the board
239:Reliance Bank Limited
209:with headquarters in
92:3 Akin Adesola Street
76:; 6 years ago
420:Polaris Bank Limited
308:Effective 2016, the
183:Polaris Bank Limited
153:Polaris Bank Limited
31:Polaris Bank Limited
861:Businessday Nigeria
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832:Leadership Nigeria
392:Vanguard (Nigeria)
356:Economy of Nigeria
314:board of directors
172:polarisbanklimited
141:Financial services
57:Financial services
940:. 11 January 2024
632:. 31 October 2014
267:Ibrahim Babangida
233:Bond Bank Limited
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16:(Redirected from
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348:Banks portal
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286:260 branches
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89:Headquarters
45:Company type
294:Lagos State
203:West Africa
99:Lagos State
980:Categories
944:2024-01-11
919:2022-11-01
893:August 29,
867:11 January
839:23 October
811:2022-08-23
790:2022-08-23
765:2018-10-09
740:2018-10-09
715:2018-10-09
690:2018-10-09
664:5 November
610:5 November
579:2022-09-06
553:5 November
507:2022-11-01
481:5 November
452:5 November
426:5 November
399:5 November
372:References
304:Governance
110:Key people
81:2018-09-24
888:The cable
658:The Punch
636:20 August
630:Mergr.com
445:. Abuja:
254:Ownership
18:Skye Bank
734:TheCable
574:The ICIR
546:This Day
524:Archived
334:See also
197:Overview
133:Products
119:chairman
53:Industry
549:. Lagos
477:. Abuja
422:. Lagos
395:. Lagos
298:Nigeria
217:History
211:Nigeria
167:Website
137:Banking
103:Nigeria
79: (
71:Founded
66:Banking
316:. The
155:
148:Parent
185:is a
63:Genre
895:2020
869:2024
841:2022
666:2018
638:2022
612:2018
601:via
555:2018
483:2018
454:2018
428:2018
401:2018
320:and
205:and
174:.com
115:Nil
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