Why CBN approved new directors for Polarise Bank after Keystone Bank

• The Central Bank of Nigeria (CBN) has reconstituted the board of Polarise Bank, Nigeria’s digital commercial retail bank
• The apex bank appointed Kassim Gidado as the Board Chairman for Polaris Bank
• Other board members include Aka Effiong Okon, Ambusa Abubakar Umar, Ayaba Ayo-Joseph, Giwa-Amu Subulade Ibironke, and Onosode Christopher

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

The Central Bank of Nigeria (CBN) formed an entire board of directors for Polarise Bank.

CBN appointed Kassim Gidado as the board chairman. The other non-executive directors are Akwa Effiong Okon, Ambusa Abubakar Umar, Ayaba Ayo-Joseph, Giwa-Amu Subulade Ibironke, and Onosode Christopher.

The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso Credit: Bloomberg/Contributions
Source: Getty Images

Directors and their expertise

Kayode Lawal, the bank’s managing director/CEO, said the new board members' diverse experiences would enrich the ongoing initiatives to boost the bank’s position as a leading digital bank.

Lawal said.

“We are thrilled to welcome these seasoned professionals to the board of Polaris Bank. Their diverse expertise and leadership qualities will be invaluable as we drive our strategic initiatives to strengthen the bank as a leading Nigeria digital bank.”

“These appointments mark a significant step in Polaris Bank’s journey towards achieving sustained growth and delivering exceptional value to our stakeholders,” he said.

BusinessDay reports that the new board chairman, Gidado, is an academic with over 35 years of experience in Engineering, Project Management, and Strategic Development and brings a wealth of expertise to drive the bank’s vision.

Reports say Gidado has held different positions, including group managing director and chief of staff at MAG Group Limited, where he managed different portfolios of firms across 35 countries.

Okon has experience as a special assistant in finance and later as managing director at the Niger Delta Development Commission (NDDC) in Port Harcourt.

Abubakar Umar is versed in enterprise transformation and development finance and has more than 30 years of experience in the banking industry, including a tenure at the CBN.

He has over a decade of consulting experience. He has risk management skills and knowledge in product management across various areas, including credit, liquidity, market risks, regulatory capital and customer experience.

Ayo-Joseph has more than 30 years of experience in the banking industry.

As a member of the Chartered Institute of Bankers of Nigeria (CIBN), she brings a wealth of experience to the board as a non-executive director with expertise in Corporate Management, Business Development, and Strategy Execution.

Giwa-Amu is a lawyer by training and holds an MBA from the University of Warwick, UK, and brings close to three decades of experience in financial services, real estate investment and development, and business re-engineering across West Africa to the bank.

Her background spans notable board positions and successful leadership roles. As the founder/CEO of Brookstone Investment and an ex-MD/CEO of International Commercial Bank (FBN Bank Ghana, she stands to contribute to piloting the bank to a brighter future. 

Onosode has a doctorate in Economics and energy from Kent University, UK. He brings over thirty years of experience in business systems analysis and design, strategy and operations, project management, and policy to the bank’s board.

CBN appoints new Directors Keystone Bank

Legit.ng earlier reported that the Central Bank of Nigeria (CBN) has appointed a new board of directors to improve Keystone Bank Limited's operations for long-term corporate growth.

The apex bank also nominated two more executive directors to the lender.

The financial institution said in a statement on Wednesday, September 18, that Ada Chukwudozie was named the board chairman, along with five other non-executive directors, including Abdul-Rahman Esene, Fola Akande, Akintola Ayodeji Olusoji, Obijiaku Samuel, and Farouk Bello.

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Source: Legit.ng