The Central Bank Governor, Godwin Emefiele, has received a presidential approval to sell Polaris Bank, which will be made public soon, unless there is a development contrary to the arrangements.
The deal which is between Auwal Lawan Abdullahi and the central Bank of Nigeria, who is the in-law to the former head of state, Ibrahim Babangida, a businessman and sarkin Sudan of Gombe, a traditional title from the Northeast. The striking deal is 40 million naira in the bank that took taxpayers money up to 1.2 Trillion to revived.
Few years ago, Skye Bank went bankrupt and was sold due to the inability of the shareholders to adequately recapitalize after intervention, in 2018, Central Bank of Nigeria took over its management.
The plans to sell it to Babangida’s in-law have been perfected by those involved.
This development has generated different reactions from people across the country.
