The Central Bank of Nigeria (CBN) has constituted a full Board of Directors for Polaris Bank, Nigeria’s leading digital commercial retail Bank in a major transition that signals the remarkable achievements of the new management and the future of the Bank.
The Ten-man board is headed by Dr. Kassim Gidado as Board
Chairman. Other Non-Executive Directors include: Dr. Akwa Effiong Okon, Mallam
Ambursa Abubakar Umar, Mrs. Ayaba M. Ayo-Joseph, Mrs. Subuuade Giwa Amu, and
Dr. Onosode Christopher
Dr Kassim Gidado, the new Board Chairman, is an academic with over 35 years of experience in the fields of Engineering, Project Management, and Strategic Development, he brings a wealth of expertise and a dynamic vision to the Bank’s Board. He has held prestigious roles, including Group Managing Director and Chief of Staff at MAG Group Limited, where he managed a diverse portfolio of companies across 35 countries. His extensive experience in public-private partnerships, and infrastructure development, among other strategic footprints, will be invaluable to the growth and development of Polaris Bank.
Over the years, he has advised governments and captains of industry on several strategic and policy issues in procurement, infrastructure development, and security. He recently championed the development of the North-East Stabilisation and Development Master Plan (NESDMP) for the North-East Development Commission. He produced the document that sets the Commission up in the mode for Readiness-for-Execution for the implementation of the NESDMP until the year 2030.
A community leader of repute, Dr. Gidado is the Wazirin
Jam’are in Jam’are Local Government in Bauchi State. His extensive academic,
public service, and professional background will provide invaluable leadership
as he assumes the role of Board Chairman.
Dr. Akwa Effiong Okon who holds a doctorate in Law, has
experience as a Special Assistant on Finance and later MD at the Niger Delta
Development Commission (NDDC) in Port Harcourt and as a Non-Executive Director
of FHA Mortgage Bank Limited in Abuja, where he represented the Federal
Government's interest. A Chartered Accountant, Dr. Akwa, is an accomplished
professional with a rich educational background, including attending the Senior
Executive Programme on Strategy, Leadership, and Transformation at the London
Business School. He holds fellowships with both the Institute of Chartered
Accountants of Nigeria (ICAN) and the Chartered Institute of Bankers of Nigeria
(CIBN). He is also a lawyer. His notable roles include serving as the Managing
Director and CEO of Akwa Savings and Loans Limited from 2007 to 2013, where he
successfully implemented turn-around strategies for the mortgage finance
institution owned by the Government of Akwa Ibom State, Nigeria.
Mallam Ambursa Abubakar Umar is an expert in Enterprise
Transformation and Development Finance with over 30 years of experience in the
banking industry, including a distinguished tenure at the Central Bank of
Nigeria.
With 12 years of consulting expertise, Mallam Ambursa is
renowned for his strong risk management skills and extensive experience in
product management across various areas including credit, liquidity, market
risks, regulatory capital, and customer experience. His deep understanding and
dedication to excellence, make him a valuable addition to Polaris Bank’s Board.
He holds a Master of Science in Banking & Finance from
Bayero University, Kano, and a Bachelor of Science in Economics from the
University of Sokoto.
Mrs. Ayaba Ayo-Joseph has over three decades of experience in
the banking industry. A member of the Chartered Institute of Bankers of Nigeria
(CIBN), she brings to the Board as a Non-Executive Director a wealth of
experience in Corporate Management, Business Development, and Strategy
Execution.
Her track record includes serving as an Executive Director at
Bank PHB, where she played a critical role and delivered transitional change
between 2010 and 2011 following her appointment by the CBN. She is credited
with implementing business continuity plans and driving profitability during
the transition period. Her Corporate Governance and Strategic Planning
footprints will ensure that Polaris Bank continues to adhere to the highest
standards while pursuing sustainable growth.
She holds various professional memberships, including with the
Nigeria Institute of Management (NIM), the Nigerian Bar Association, and WIMBIZ
(Women in Management, Business, and Public Service.
Mrs. Subulade Giwa Amu,
holds an LL.B Hons degree in Law and an MBA
both from the University of
Warwick, UK, and brings over 30 years of experience in financial services, real
estate investment & development, and business process re-engineering across
the West African region to the Polaris Bank Board. Her extensive background
includes notable non-executive board positions and successful leadership roles.
She is currently the Founder & CEO of Brookstone Investments and
Properties.
Prior to this Board appointment, between 2010 and 2014 she held leadership positions as the Managing Director/CEO at FBN Mortgages
Limited where she spearheaded the turnaround and return to profitability of the
company.
Dr. Onosode Christopher holds a doctorate in Economics and
energy major from Kent University, UK. He joins the Board of Polaris Bank with
over 30 years of experience in business systems analysis and design, strategy
and operations, project management, and policy analysis.
Onosode’s career spans significant roles and measurable impact
with multinational companies and financial institutions, including Shell
Petroleum, UK, PricewaterhouseCoopers, and the Debt Management Office of
Nigeria (DMO). His deep sectoral knowledge and strategic insight will
contribute to the drive of Polaris Bank’s operations and strategic initiatives,
moving forward.
The newly appointed non-executive directors will provide
support for the executive management team led by Mr Kayode Lawal and supported
by the executive management team led by Mr. Kayode Lawal, Managing
Director/CEO; Mr. Chris Ofikulu; Executive Director, Retail and Commercial;
Mrs. Abimbola Ozomah, Executive Director, Corporate & Investment Banking
and Sharafadeen Muhammed, Executive Director, Operations.
Mr Kayode Lawal is a seasoned professional with over 3 decades
of experience in the Banking industry. Prior to his appointment with Polaris
Bank, he had a distinguished tenure at Sterling Bank Plc, where he held the
position of Executive Director in charge of Corporate & Investment Banking.
He is committed to excellence and leadership in the banking industry which was
evident throughout his career. He is a Fellow of the Institute of Chartered
Accountants of Nigeria (ICAN), and an Associate Member of the Chartered
Institute of Taxation of Nigeria (CITN). Additionally, he has enriched his
professional knowledge through executive education programs at prestigious
institutions such as; Lagos Business School, University of Oxford, Columbia
University Graduate School of Business, and Massachusetts Institute of
Technology.
Mr. Chris Ofikulu is the Executive Director in charge of
Retail and Commercial Banking for the bank. He possesses extensive experience
in the banking sector, spanning over 30 years. Prior to his appointment by the
CBN on January 10, 2024, he held the position of Country CEO at UBA Ghana and
Managing Director at Diamond Pension Fund Custodian Limited.
He holds a First Class Degree in Industrial Mathematics from
the University of Benin and an MBA from the University of Lagos and has over
the years, attended high-impact and prestigious business training at The
Wharton Business School, IESE Business School, and Lagos Business School.
Additionally, he has received training in Leadership and Corporate Governance
from the Henley Business School and completed the Advanced Company Direction
Programme at the Institute of Directors (IoD), London.
Mrs. Abimbola Ozomah is the Executive Director in charge of
Corporate and Investment Banking. She brings over three decades of experience
in the banking and financial services industry, with a proven track record of
driving growth and innovation. Up until April this year, Mrs. Ozomah was the
General Manager and Director of Global Network Banking at Citibank Nigeria,
where she headed the Specialized Industries Division as a Senior Executive.
She had overall responsibility for the Bank’s high-revenue
portfolio, which comprised strategic specialized industry segments for
multinational corporations across oil & gas, manufacturing,
pharmaceuticals, technology, digital natives, and media. Her role also included
managing related value chains and selecting top-tier local corporate
relationships.
She holds an MBA degree from Warwick Business School,
University of Warwick, Coventry, UK, and a Bachelor’s degree in Economics from
Obafemi Awolowo University, Ile Ife, Osun State.
Mr. Sharafadeen Muhammed is the Executive Director in charge
of Operations of the Bank. He served as the Chief Financial Officer (CFO) at
Citibank, where he oversaw significant financial operations and strategic
initiatives. With over 15 years of experience in high-level finance roles,
including a notable tenure at Citibank Nigeria, he has demonstrated strong
strategic insight and financial acumen. A CFA charter holder with an MBA from
New York University, Sharafadeen's career began at Citigroup as Vice President
of Corporate Financial Planning & Analysis. His roles at Citibank Nigeria
included Head of Strategy & Business Planning and CFO. He has also attended
high-level leadership training at Ivy League institutions.
The constitution of the full board, with a stronger management
team and diverse board experience and expertise, reinforces the general
public's perception of Polaris Bank's preparedness to retain a leading position
in the post-recapitalization banking industry.
The new Board is also a subtle endorsement of the silent but
admirable business re-engineering being done by the Kayode Lawal-led executive
management.
Mr. Kayode Lawal said the diverse expertise and experience of
the new board members would further enrich ongoing strategic initiatives aimed
at strengthening our position as a leading digital Bank.
“We are thrilled to welcome these seasoned professionals to
the board of Polaris Bank. Their diverse expertise and leadership qualities
will be invaluable as we drive our strategic initiatives aimed at strengthening
our position in the industry.
“These appointments mark a significant step in Polaris Bank’s
journey towards achieving sustained growth and delivering exceptional value to
our stakeholders,” Lawal said.
Statement from MD/CEO
“We are thrilled to welcome these seasoned professionals to
the board of Polaris Bank. Their diverse expertise and leadership qualities
will be invaluable as we drive our strategic initiatives aimed at strengthening
the Bank as a leading Nigeria digital Bank.
“These appointments mark a significant step in Polaris Bank’s
journey towards achieving sustained growth and delivering exceptional value to
our stakeholders.”
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