Ibrahim Babangida’s in-law is new owner of Polaris Bank •Bank appoints new MD, board

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The identity of the new owner of the Polaris Bank emerged yesterday as more details about the N50 billion transaction were uncovered.

The new owner, Auwal Lawal, is the in-law to the former Nigerian military ruler, General Ibrahim Badamosi Babangida (rtd). He is married to Halima, the second daughter and last child of the former Nigerian military head of state.

Lawal is a Nigerian businessman, entrepreneur and a philanthropist. He holds the traditional chieftain title of “Sarkin Sudan of Gombe.

He is also the Chairman and CEO of Nice Corporate Services Limited registered with the Corporate Affairs Commission, Nigeria since 2004. A company that deals in real estate development, commodities trading, and supply of agricultural machinery and fertilizer.

Meanwhile, Adekunle Sonola, was yesterday appointed the new Managing Director/Chief Executive Officer of the bank.

Sonola replaces Innocent C. Ike, who was appointed Acting Managing Director/CEO of the bank in August 2020.

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