LAGOS FEBRUARY 8TH (NEWSRANGERS)-For the first time in 2022, the Central Bank of Nigeria (CBN) has wielded the big stick and debited Zenith Bank Plc, Providus Bank, First City Monument Bank (FCMB) Limited and 11 other banks N356.1billion for failing to meet its 27.5 per cent Cash Reserve Requirement (CRR) obligation. The fresh debit, which…
LAGOS JUNE 26TH (NEWSRANGERS)-The House of Representatives Ad hoc Committee on Recovered Loots and Assets of Government, yesterday, heard of how $300 million belonging to the Nigerian National Petroleum Corporation (NNPC) was “hidden in a Polaris Bank account and remained unattended to for years.” At the resumed public hearing of the panel in Abuja, the…
LAGOS MARCH 8TH (NEWSRANGERS)-After injecting over four hundred billion naira into Polaris bank by the Central Bank of Nigeria in 2018, the apex bank has finally concluded arrangements to cede it to a prefered bidder. This medium exclusively gathered that a first generation bank with strong presence in the financial inclusion market has emerged as…
LAGOS OCTOBER 21ST (NEWSRANGERS)-Three new generational bank buildings have been set ablaze along the Admiralty Way in Lekki, Lagos. The three banks have been identified as Polaris, GTB and Access Bank branches. Business premises, shopping malls and shops have also been looted by suspected hoodlums in the area. These incidents happened on Tuesday night following…
LAGOS SEPTEMBER 23RD (NEWSRANGERS)-Polaris Bank has recorded remarkable success in adopting the United Nations Environment Programme Financial Initiatives (UNEP-FI) Principles for Responsible Banking. The Principles for Responsible Banking, an initiative of UNEP, an Agency of United Nations (UN), provide a framework of six principles for integrating Sustainability into the heart of banking operations. By signing…
LAGOS AUGUST 24TH (NEWSRANGERS)-The Managing Director/Chief Executive Officer of Polaris Bank Limited, Mr. Tokunbo Abiru, has announced his retirement from the service of Polaris Bank, effective August 31, 2020, having successfully completed his second two-year tenure at the helm of the Bank. In an emotion-laden farewell message to the staff of the Bank, Mr. Abiru…
LAGOS JUNE 12TH (NEWSRANGERS)-Within its first 100 days of introduction, Polaris Bank’s Agency Banking initiative, SurePadi, has serviced over half a million customers impacting directly an estimated two million households across the seven business regions of the Bank nationwide. Beyond the direct impact on customers and households in Nigeria, the sheer volume and value in…
LAGOS OCTOBER 16TH (NEWSRANGERS)-The Federal High Court in Abuja on Monday ordered the interim freezing of 45 bank accounts belonging to three companies for alleged smuggling of rice into the country. The companies with the 45 bank accounts in 10 banks are Sun Sam A1 International Limited, Sun Sam International Limited and Sunchrist O. Trans…