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institution emerged through a regulatory intervention to take over the assets of Skye Bank, whose operating licence was revoked by the Central Bank Nigeria (CBN) following its collapse.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