Tag: Polaris Bank

How IEDM Default in Polaris Bank Loan Caused Asset Takeover in IBEDC, 25 Banks – AMCON

Aliyu Aliyu

The Asset Man­agement Corpo­ration of Nigeria (AMCON) has given details of how it ex­ecuted the takeover of Integrated Energy Dis­tribution and Marketing (IEDM) Limited, the core investor of Ibadan Elec­tricity Distribution Com­pany (IBEDC), following a default in a loan servicing agree­ment executed with Polar­is Bank. Platforms Africa reports that the agency conveyed the change of baton in the electricity firm in a public notice, where it also disclosed that it had appointed Mr. Osayaba Giwa-Osagie (SAN) to take over the entire undertak­ings, assets of IEDM in­cluding shares and inter­ests in…

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Polaris Bank Spokesman, Rasheed Bolarinwa’s Daughter Graduates from UNILAG

Tade Salako

“We love you immensely, Izzi girl, and we laud this educational stride,” proud father celebrates daughter’s BEng.  Honours   Izziyyah, daughter of spokesman for Polaris Bank, Rasheed Bolarinwa, has graduated from the prestigious University of Lagos (UNILAG). Platforms Africa reports that Izziyyah bags a Bachelor of Engineering (BEng.) honours at the prestigious University. An excited Bolarinwa who announced the feat on his Facebook page lauded her daughter’s “educational stride.” READ ALSO: Genius With 8 As in WAEC in 2015, Bags First Class at UNILAG Couple Arrested for Mobilising Thugs to…

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Polaris Bank Underscores VULTe Benefits, Uniqueness For Customers

Damilola Olonade

  Polaris Bank has restated that its newly-launched digital banking platform, VULTe, is a quick self-service innovation aimed at delivering greater value and benefits to existing and new customers of the Bank.   READ ALSO: Polaris Bank’s Assets hit N1.2tr, Profit Growth Sustained with N28.9bn Polaris Bank Webinar: Experts reveal Winning Ways for Women Wealth Building Nigerian Banks rattled by N10trn Debits, Interest Rates Hike Imminent   The Chief Digital Officer (CDO) of Polaris Bank, Dele Adeyinka, while highlighting the unique features and benefits of VULTe in a statement sent…

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Polaris Bank Unveils New Digital Bank, Boosts Nigerian’s e-payment Banking

Tade Salako

    With the rising opportunities in the e-payment systems accelerated by the COVID-19 era sweeping across the world, there are indications that one of Nigeria’s retail franchise, Polaris Bank, has thrown its hat into the ring as it unveils a new digital Bank. The Bank’s new Digital Bank which has for some time been in test mode amongst its staff and customers is set to grow its market share, targeting a new generation of digital natives and immigrants who are socially and financially aware of innovations in self-service and…

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Polaris Bank commences Extra N5 payment for Dollar remitted to Nigeria 

Gbenga Adeoti

  Polaris Bank has commenced implementation of the regulatory Central Bank of Nigeria (CBN)’s extra N5 for every Dollar received into domiciliary accounts or as cash over the counter. The acting Managing Director/CEO of Polaris Bank, Mr. Innocent C. Ike disclosed that “growing evidence has shown a positive relationship between diaspora remittances and economic growth and as such, the Bank will continue to contribute its quota to enhancing economic development in the country”. The Polaris Bank CEO further explained that, the decision is in line with the CBN’s directive and fully…

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Polaris Bank rewards 2nd millionaire, 60 winners in ‘Save & Win’ Promo

Precious Ibekwe

Ikechukwu Bartholomew Obiefuna, a customer of Polaris Bank’s Okeke Street branch, Onitsha in Anambra State has emerged the second millionaire at the 2nd draw of the Bank’s ongoing nationwide Save & Win promo. A set of 60 lucky customers from across the six geo-political zones, also received N100,000 each, as consolation cash prize during the draw which held at the Bank’s headquarters in Lagos. The winners emerged through a transparent draw witnessed by officials of the Federal Competition and Consumer Protection Commission (FCCPC); National Lottery Regulatory Commission (NLRC) and representatives…

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Polaris Bank, Pan Ocean’s feud over N240bn loan degenerates + AMCON’s OML 147 takeover

Tim Bauer

  The feud between Polaris Bank-led consortium of lenders and Pan Ocean group over N240 billion loan has degenerated with Asset Management Corporation of Nigeria (AMCON’s) takeover of Pan Ocean Oil Gas company with all its assets inclusing Oil Mining Lease (OML) 147. Pan Ocean had accessed funding for the project from the consortium of banks led by Polaris Bank Limited (Former Skye Bank Plc) for the development and production on Oil Mining Lease (OML) 147, which came from OPL 275 in 2014. OML 147 is expected to attain peak…

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