Connect with us

Nigeria In One Minute

Polaris Bank for sale after 2019 polls



The latest bridged financial institution in Nigeria, Polaris Bank Limited, is ready for sale but the entire process would be on hold for now pending the conclusion of the elections when publications for Expressions of Interest (EoIs) would commence.

The Asset Management Corporation of Nigeria (AMCON) confirmed the development yesterday through its spokesman, Jude Nwauzor, in an exclusive chat with The Guardian.

The financial institution emerged through a regulatory intervention to take over the assets of Skye Bank, whose operating licence was revoked by the Central Bank Nigeria (CBN) following its collapse.

The Guardian, January 23, 2019

Join the conversation


Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now