POLARIS BANK FOR SALE AFTER 2019 ELECTIONS

The Asset Management Corporation of Nigeria (AMCON) has said Polaris Bank will be put up for sale after the 2019 elections.

This is coming barely four months after the bank was taken over from Skye Bank.

According to a report by Reuters, this was disclosed by Jude Nwauzor, the AMCON spokesman, on Tuesday.

Speaking on plans for the sale of the bank, Nwauzor said:

“The election season has slowed down things. We would advertise for expressions of interest from investors after elections and commence the sale process of Polaris bank.”.

Recall that sometime in September 2018, Godwin Emefiele, Governor of the Central Bank of Nigeria, had announced the establishment of a bridge bank, Polaris Bank, to assume the assets and liabilities of Skye Bank.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s