The CBN cited corporate governance lapses, regulatory non-compliance, breach of terms under which the banks got their licences and “involvement in activities that pose a threat to financial stability” among the reasons for the dissolution.
DSS interrogates CBN deputy gov, Aishah Ahmad over sale of Union, Skye banks thestreetjournal.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestreetjournal.org Daily Mail and Mail on Sunday newspapers.
Controversy trailing the acquisition of Polaris Bank took a new twist Thursday when a report by Premium Times accused the bank of breaching the Corporate and Allied Matters Act (CAMA) 2020 by not disclosing the details of its 45 percent ownership in its documentation with the Corporate Affairs Commission (CAC).
The Managing Director and CEO of Polaris Bank have clarified the actual owner of the bank in a company-wide email to the staff, asking them to focus on the bank