Contrary to reports, Polaris Bank said there is no plan by the Central Bank of Nigeria, CBN to sell the bridge bank to a private individual.
The Innocent C. Ike-led commercial bank, has therefore urge its teeming customers and general public to discountenance the report and continue to trust the management in its quest to fully turn the bank around.
The bank said in a statement on Friday that it has improved its balance sheet, stabilized and now profit focused. There’s no need to worry, the bank assured its stakeholders.
When it’s time for the bank to be retuned to private ownership, Polaris Bank said, such will be done with regulatory backing.
The statement said, “Our attention has been drawn to an online report on the purported sale of Polaris Bank Limited. This publication is speculative, deliberately intended to create panic and should be disregarded by the banking public.
“Stakeholders may recall the regulatory intervention in the erstwhile Skye Bank by the CBN and the subsequent injection of capital via the Asset Management Corporation of Nigeria (AMCON) through a bridge bank process, which birthed Polaris Bank in 2018. The Bank has since stabilized its operations following the intervention; improving its balance sheet, customer base and profitability.
“Whilst the intention has always been to return the Bank to private ownership, such a sale would occur following regulatory approvals with formal notification to all relevant stakeholders. The Bank is committed to ensuring timely communication to the public in such an event.
“The Board and Management hereby reassure its customers, staff and the general public that Polaris Bank remains a stable, strong and credible financial institution, positioned to deliver sustainable value to all its stakeholders.”
Similarly, First bank Nigeria, FBN has denied that its head office was sealed contrary to some reports to that effect.
The bank in a statement by Kehinde Taiwo, its Marketing & Corporate Communications department, the reports was untrue and meant to mislead the public.
“Our attention has been drawn to the news reports online with the conflicting claims that FirstBank branch or/head office has been sealed,” the statement said.
“Please be informed that the referenced story is a misrepresentation of the facts and misleading.
“Neither our branch nor head office was sealed. On the 4th of August, 2022, there was an unlawful enforcement at the Bank’s Coomassie House Branch of a garnishee order issued by a Federal High Court sitting in Abuja, which order the bank is still challenging in court.
“While the bank has taken appropriate legal steps to deal with the situation, we wish to reassure our customers of unhindered banking services and unique customer experience in all our branches and through our numerous alternative channels,” FBN said in the statement.
