Providus Bank, Polaris Bank join sponsors of QEDNG Creative Powerhouse Summit - ITREALMS

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Providus Bank and Polaris Bank have been announced as additional sponsors of the QEDNG Creative Powerhouse Summit.

They join First Bank of Nigeria, Nigeria LNG (NLNG) and Shell in supporting the landmark event.

CBN sacks boards of Union Bank, Keystone Bank and Polaris Bank - ITREALMS

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The Central Bank of Nigeria (CBN) has dissolved the Board and Management of Union Bank, Keystone Bank, and Polaris Bank with immediate effect, reports ITREALMS.

This action, according to the acting Director, Corporate Communications at CBN, Sidi Ali Hakama (Mrs) has became necessary due to the non-compliance of these banks and their respective boards with the provisions of Section 12(c), (f), (g), (h) of Banks and Other Financial Institutions Act, 2020.

Polaris Bank sales: CBN sets record straight, insists on due diligence - ITREALMS

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The Central Bank of Nigeria (CBN) has set the records straight on the recent sale of Polaris Bank Limited, reports ITREALMS.

A press statement available to ITREALMS, the apex bank noted its attention has been drawn to a spurious, malicious, and misleading online publication, which made several false claims concerning the recent sale of the Federal Government’s interest in Polaris Bank Ltd.

Polaris to hold draw for save & win promo Friday - ITREALMS

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The first draw of the ongoing Polaris Save & Win promo is scheduled to hold on Friday, November 4, 2022 in Lagos, reports ITREALMS.

The draw which would be conducted electronically, holds at the Bank's Victoria Island, Lagos headquarters, and would be broadcast live on all the bank’s social media channels where winners that emerged would be contacted and rewarded in instant.

Polaris Bank denies plan to sale bank - ITREALMS

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The management of Polaris Bank has denied any purported plane to sale the bank, reports ITREALMS.

A press statement from the bank's top management made available to ITREALMS denied any such plan.

Polaris Bank clinches NHEA's excellence prize - ITREALMS

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The Polaris Bank, Nigeria’s leading retail bank, has been recognized as the “Outstanding Healthcare Financial Institution of the Year” by the Nigeria Healthcare Excellence Awards (NHEA).

The award presentation, which took place in the Bank’s head office in Lagos on Tuesday was presented in recognition of the Bank’s contribution to the healthcare sector as part of the highpoints of the 8th Annual Nigeria Healthcare Excellence Awards (NHEA) which held over the weekend in Lagos.

RT $200bn: Polaris Bank sensitises non-oil exporters, urges adoption - ITREALMS

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One of the leading Commercial Bank in Nigeria, Polaris Bank in partnership with the Central Bank of Nigeria (CBN) has urged exporters in the non-oil sector to embrace RT USD 200billion programme in a bid to boost the nation’s economy.

The financial institution made the appeal recently in Calabar during a one day Sensitisation programme for non-oil exporters on the need to key into the “Race to USD 200billion Foreign Exchange Programme”.

Polaris Bank donates electric delivery beds to FTH Gombe - ITREALMS

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Polaris Bank has donated multi-million naira worth state-of-the-art Hydraulic/Electric Delivery Beds to the Federal Teaching Hospital (FTH), Gombe in Gombe State to further its Corporate Social Responsibility (CSR) interventions in the health sector.

Making the presentation on Tuesday at FTH, Gombe, Polaris Bank's Management represented by its Group Head, North-East, Olayinka Obikanye said the Bank attach premium to health growth and as such, would continue to dare the odds to ensure quality health delivery across the country.

Bolarinwa emerges president of ACAMB - ITREALMS

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The Head of Corporate Communications at Polaris Bank, Mr. Rasheed Bolarinwa, has emerged as the new president of the Association of Corporate Affairs Managers of Banks (ACAMB), reports ITREALMS.

New ACAMB executive till 2024

Bolarinwa-led executive committee was elected at the Annual General Meeting (AGM) of ACAMB held on Thursday, January 19, 2022, at the Bankers’ House, CIBN Building, Victoria Island, Lagos.

Get instant cash with Polaris Bank salary advance - ITREALMS

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The Polaris Bank has introduced salary advance to customers who may be in urgent needs, reports ITREALMS.

The bank now asked "Are you aware you could easily access funds for urgent needs that can’t wait till the end of the month?

CBN gives insights on revocation of Skye bank license, Polaris Bank takes over - ITREALMS

ITREALMS:

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin I. Emefiele, has given some insights into the revoking of banking license given to Skye Bank plc, just as Polaris Bank makes a debut by automatic take-over of all customers, their accounts and records, reports ITREALMS.

Speaking in Lagos, Friday, Emefiele said in Lagos, revoked the license of the bank which has been on lifeline since 4th July 2016, and assured that the Nigerian banking industry remains safe as well as resilient, just as CBN will continue to live up to its responsibilities of promoting stability in the banking and financial system.

“Indeed, the bank’s performance has improved considerably compared to the pre-July 2016 era,” he declared, stressing that recent examinations and forensic audit of the bank has, revealed that Skye bank requires urgent recapitalization.

“… As it can no longer continue to live on borrowed times with indefinite liquidity support from the CBN. The shareholders of the bank have been unable to recapitalize it,” Emefiele said.

The CBN, he said, as a responsible and responsive regulator and in consultation with the Nigerian Deposit Insurance Corporation (NDIC), have decided to establish a bridge bank, Polaris Bank, to assume the assets and liabilities of Skye bank.

“The strategy is for the Asset Management Company of Nigeria (AMCON) to capitalize the Bridge Bank and begin the process of sourcing investors to buy out AMCON. By this decision, the licence of the defunct Skye Bank is hereby revoked,” Emefiele declared.

Assuring all depositors that under this arrangement, their deposits shall remain safe and that normal banking services shall continue in the new bank on Monday, 24th September, 2018, to enable customers to transact their businesses seamlessly.

“Thus, all customers of Skye Bank shall be automatic customers of the new bank and their accounts and records duly purchased by Polaris Bank,” he asserted.

In addition, he informed ITREALMS that all employees of Skye Bank shall be absorbed by Polaris Bank under a new contract unless any employee decides to opt out.

Chuks Egbune/ED, Ops

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