CBN Appoints Lawal Mudathir Omokayode Akintola As Polaris Bank CEO

Lawal Mudathir Omokayode Akintola has been appointed as the new Chief Executive Officer (CEO) of Polaris Bank.

ENigeria News reports that following the Apex Bank’s action on Wednesday, dissolving the board of three controversial banks (Polaris Bank included), a new board was constituted.

For Polaris Bank, a statement released by Apex Bank indicates that Lawal Mudathir Omokayode Akintola was announced as CEO, while Chris Ofikulu will be its Executive Director.

The CBN statement read, “Following the dissolution of the Board and Management of Union Bank, Keystone Bank, and Polaris Bank on Wednesday, January 10, the CBN has appointed new executives to oversee the affairs of the banks;
“Union Bank: Yetunde Oni – Managing Director/Chief Executive Officer Mannir Ubali Ringim – Executive Director, “Keystone Bank: Hassan Imam – Managing Director/ Chief Executive Officer Chioma A. Mang – Executive Director
“Polaris Bank: Lawal Mudathir Omokayode Akintola – Managing Director/ Chief Executive Officer Chris Onyeka Ofikulu – Executive Director

“The appointments take immediate effect,” the statement added.

Recall that a publication on ENigeria News in 2024 exposing the reckless manner and lack of due process involved in the acquisition of Polaris bank by cronies of Godwin Emefiele – a former CBN Governor who spearheaded an alleged transaction involving the Asset Management Corporation of Nigeria (AMCON), sparked heavy outrage in the banking sector. The report rattled the management of the bank which quickly refuted our report in some parts of the media. READ IT HERE.

However, the discovery made by Special Investigator, Jim Obazee, appointed by President Bola Tinubu in July 2023, to probe the activities of the CBN and other relevant establishments has vindicated ENigeria News.

The report of the special investigation into the activities of the CBN had accused the immediate past Governor of the apex bank, Godwin Emefiele, of acquiring banks for himself through proxies.

Among some of the banks mentioned are: Polaris Bank, Titan Trust Bank, and Union Bank, all of which most of our investigative reports had indicted in the past.

Source: ENigeria News