The Polaris Bank announced in a statement on Monday that the Central Bank of Nigeria had appointed members of its Board of Directors.
The bank said that Akwa Okon, Ambursa Umar, Ayaba Ayo-Joseph, Giwa-Amu Ibironke, and Onosode Christopher are among the other Non-executive Directors appointed.
Kayode Lawal, the bank’s Managing Director and CEO, spoke on the appointment, stating that the new board members’ varied backgrounds and areas of expertise will enhance current strategic efforts meant to solidify the company’s standing as a top digital bank.
Continuing, he had this to say: “We are thrilled to welcome these seasoned professionals to the board of Polaris Bank.”
Speaking further, he stated: “Their diverse expertise and leadership qualities will be invaluable as we drive our strategic initiatives aimed at strengthening the bank as a leading Nigeria digital bank.
“These appointments mark a significant step in Polaris Bank’s journey towards achieving sustained growth and delivering exceptional value to our stakeholders,” he added.
Gidado, the newly appointed Board Chairman, is an academic with more than 35 years of expertise in engineering, project management, and strategic development, according to the statement available to the BrandSpur banking and finance news desk.
It partly reads: “He brings a wealth of expertise and a dynamic vision to the bank’s board. He has held prestigious roles, including Group Managing Director and Chief of Staff at MAG Group Limited where he managed a diverse portfolio of companies across 35 countries.
“His extensive experience in public-private partnerships and infrastructure development, among other strategic footprints, will be invaluable to the growth and development of Polaris Bank.
“Over the years, he has advised governments and captains of industry on several strategic and policy issues in procurement, infrastructure development, and security,” it added.
According to the bank, he has been actively involved in the formulation of the North-East Development Commission’s North-East Stabilisation and Development Master Plan (NESDMP) and has authored the paper outlining the plan’s implementation for the commission until 2030.
The boards and managements of Polaris, Union, and Keystone Banks were dissolved by the CBN on January 10. The action became necessary because the banks and their respective boards were not adhering to the “provisions of Section 12 (c), (f), (g), (h) of the Banks and Other Financial Institutions Act, 2020,” according to a statement released by the CBN and signed by its acting Director of Corporate Communications, Hakama Sidi Ali.
However, the financial regulator named new CEOs for the institutions less than a day later.
