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Polaris Bank Appoints New Managing Director

Polaris Bank Appoints New Managing Director

The new owners of Polaris Bank Limited, Strategic Capital Investment Limited -SCIL, had on Friday announced a new management team for the lender.

SCIL completed the acquisition of Polaris Bank for N50 billion yesterday, on Thursday, 2022.

Meanwhile, Mr. Adekunle Sonola has just been appointed as the bank’s new Managing Director/Chief Executive Officer.

Sonola has over 33 years of experience in the financial services sector and will be replacing Mr. Innocent C. Ike.

Sonola was previously, the pioneer Regional Managing Director of Guaranty Trust Bank, East Africa, and the Director of Investment Banking at Standard Bank in South Africa.

In his first statement after the announcement was made, Sonola said: “We are excited to participate in the next phase of growth for Polaris Bank and to have been able to employ such an experienced and diverse board of directors that we are confident, can lead Polaris Bank into a new era of sustainable growth.”

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The bank had additionally announced a new board to be chaired by Mr. M K Ahmad.

Ahmad who has gained over 37 years of experience in the financial sector and has been the Chairman of Polaris Bank since 2018, is also a Director at Flour Mills of Nigeria Plc, MTN Nigeria Communications Plc, and FBN Holdings.

Additionally, he was the pioneer Director-General of the National Pension Commission -PENCOM.

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