Polaris Bank Appoints Acting MD/CEO

The Board of Polaris Bank Limited and Asset Management Corporation of Nigeria – AMCON -, the Bank’s shareholder, have announced the appointment of Innocent Ike, as Acting Managing Director/CEO of Polaris Bank Limited, effective September 1.

Babatunde Osibodu, the Company Secretary, in a statement on Saturday stated that the appointment is in line with a culture of good corporate governance and succession planning.

Osibodu confirmed that the board had announced that the Managing Director/CEO of Polaris Bank Limited, Tokunbo Abiru, will retire with effect from August 31.

Abiru has successfully completed two terms of two years each, first as Group Managing Director/CEO, Skye Bank Plc and Managing Director/CEO Polaris Bank Limited.

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The incoming acting Managing Director/CEO was until now, the Executive Director, Technology and Services while also overseeing the South-South/South-East Directorate of the bank.

Ike has been a pivotal part of the bank since July 2016, and a major driver of the Corporate Transformation journey.

Abiru pointed out that this move gives an assurance of continuity: a definite continuation of the strategic plans and initiatives that brought the bank the successes it has recorded to date.

A University of Lagos graduate of Accounting , a Fellow of the Institute of Chartered Accountants of Nigeria – ICAN -, a Certified IFRS Expert and an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria -CIBN – the new acting CEO holds an Executive Certificate in Strategy and Innovation from MIT Sloan School of Management, Boston and he is a Member of Institute of Directors.

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Osibodu promised that with the change of baton, the bank would continue to deliver on the sterling performance reflected in the full year 2019 results in which the Bank posted N27billion Profit After Tax.

The bank’s first half 2020 result has shown over N18billion profit after tax, despite the tremendous headwinds brought on by the COVID-19 pandemic.

Polaris Bank is a future-determining bank committed to the delivery of industry-defining products, and services across all sectors of the Nigerian economy.


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