The Central Bank of Nigeria (CBN) has dissolved the Board and Management of Union Bank, Keystone Bank, and Polaris Bank. In a press statement signed by the Ag. Director, Corporate Communications, Sidi Ali, Hakama (Mrs.), the CBN said; “this action became necessary due to the non-compliance of these banks and their respective boards with the
BREAKING : CBN sacks board of three Nigerian banks weeks after Emefiele probe
The Central Bank of Nigeria (CBN) has sacked the board of directors of three banks, Keystone Bank, Polaris Bank, and Union Bank, in a meeting at Abuja, the nation’s capital. A high-ranking CBN official confirmed the development to TechCabal. Per the CBN, the affected banks committed infractions ranging from “regulatory non-compliance to corporate governance failure.” The apex
More Bank drama at Polaris bank (video)
The frustration continues in Nigeria as citizens scamper to get cash from banks. You’d recall that Zenith bank staff flee through fence (video) in a bid to avoid mob attack in one of their branches. The CBN has insisted that the old currencies of 200,500 and 1000 notes seize to be a legal tender on the
Strategic capital investment buys Polaris Bank
The Central Bank of Nigeria has announced the sale of Polaris Bank to a new owner, four years after the government took over the distressed Skye Bank, renamed it before injecting over N1 trillion of public funds to recapitalise the bank. Strategic Capital Investment Limited emerged the preferred bidder for the lender, the CBN said in a
Muslims Storm Polaris Bank in Droves to close accounts
A picture circulating on social media shows the moment Muslims went into Polaris bank branches to close down their accounts In a viral Facebook post, Aminu Soja claimed he went into the bank alongside his fellow Muslims to withdraw all their funds The development came after Polaris Bank manager sent an email to staff telling
BREAKING: CBN Revokes Skye Bank’s Licence, Polaris Bank Takes Over
The Central Bank of Nigeria (CBN) has taken over Skye Bank Nigeria Plc. CBN Governor and the Managing Director of the Nigeria Insurance Deposit Corporation (NDIC), Godwin Emefiele, disclosed this on Friday at a media briefing in Lagos. He also announced the change of the name to Polaris Bank. He said an injection of