On Thursday, the Central Bank of Nigeria (CBN) disclosed that Polaris Bank had been sold to Strategic Capital Investment Ltd. (SCIL) after being under government’s control for about five years.

Ripples Nigeria gathered that Polaris Bank was sold for N1.35 trillion to Strategic Capital Investment Limited (SCIL), a company registered on the Corporate Affairs Commission (CAC) on April 28, 2022.

The breakdown of the payment showed that Strategic Capital Investment Limited made an upfront payment of N50 billion, with the Investment company expected to balance up N1.305 trillion for an unspecified timeframe.

The amount Polaris Bank was sold surpassed its last market valuation (when it was known as Skye Bank), which was N10.7 billion, before it was delisted from the Nigerian Stock Exchange (now known as Nigerian Exchange Limited).

Owners of Strategic Capital Investment Limited

Previous reports on the acquisition of Polaris Bank had been linked to Lawan Auwal Abdullahi, and following the sale announcement on Thursday, it was gathered that Lawan Auwal is one of the top directors at Strategic Capital Investment Limited.

The firm is owned by Ponglomerape Limited, which has on its board, Lawan Auwal, Lawan Abdullahi, Lawan Shaibu, and Lawan Jamilu.

Who is Lawan Auwal, new owner of Polaris Bank?

Lawan Auwal is a silent businessman, who has been touted to be a commercial farmer, but a closer view into the services of his companies, Ponglomerape Limited and Nice Corporate Services Limited, showed that he wears various crowns.

While his portfolio in Ponglomerape Limited shows he leads a board of four directors, he serves as Managing Director at Nice Corporate Services Limited.

Aside from his agricultural and trading business, Lawan’s company, Ponglomerape is into the business of civil engineering and real estate development, through a spinoff firms, Ponglomerape Properties Investment Limited and Springe Estate.

Details of Nice Corporate Services expanded the investments of Lawan into the oil and gas industry, as well as general consultancy business.

Ponglomerape Limited was registered with the CAC on September 5, 2002, while Nice Corporate Services Limited was registered on May 13, 2004.

Notable details about new Polaris Bank owner


Recall the talk of town wedding of Halima, the second daughter and last child of former military dictator, General Ibrahim Badamosi Babangida (rtd), in May 2017, that reportedly recorded about 30 private jets in attendance – that was Lawan’s wedding.

Prior to the wedding, little was known about Lawan, aside that he was the Sarkin Sudan of Gombe. The wedding, which was held in two states, Niger and Gombe, with nine ceremonies organised in four consecutive days, reportedly cost about N300 million according to societal lifestyle journal, Ecomium.

It was gathered that Lawan paid N500,000 and provided 10 cows as dowry to marry Halima, who is the child of late Maryam Babangida. Lawan has three wives.

Note that Lawan’s father-in-law ruled Nigeria as a military dictator between August 27, 1985 and August 27, 1993. He famously annulled the June 12, 1993 presidential elections won by Bashorun Moshood Abiola.

http:///3f264d7b221021en_ng?link=1&client=news

Haaa

Ok, good

Ibb boys long well well


Atiku is coming

Babake wetin him de plant?

Well don't forget to check our signature

A strike to seal the deed?

One of the cronies of the cabal

Buhari and his Fulani Mafia should stop decieving themselves

Lol

No wonder the country's monetary policies are a huge joke.

Emefiele can't even disguise very well.

Thieves...

Dude is just a front for a big politician.

Fulani oligarchy at work. Our money is working. Let me zip my mouth. The more u look the less you see

I will continue to bank at the original banks in Nigeria.

There seems to be some of the biggest generational wealth transfer in the history of Nigeria going on during this Buhari tenure., thank you Buhari for empowering northerners within your 8 years.

GamalNasser:
Buhari and his Fulani Mafia should stop decieving themselves

.. Envy and frustration has finished your life.

No individual can own a bank again. That era of IBB is gone.

That bank currently owes over N1trillion and must pay between 50-60billion yearly for the next 25 years as agreed with CBN. No single mortal individual will be allowed to take up such liability.

Don't be fooled that is been bought by a govt official, that lawal is just a proxy owner

GamalNasser:
Buhari and his Fulani Mafia should stop decieving themselves

lol

Agriculture is Life...

FreeStuffsNG:
No individual can own a bank again. That era of IBB is gone.

That bank currently owes over N1trillion and must pay between 50-60billion yearly for the next 25 years as agreed with CBN. No single mortal individual will be allowed to take up such liability.

You think people buy banks to own it ?
.some of you are just so naive

seunmsg:
Dude is just a front for a big politician.

This is the Fulani oil subsidy mafia , they have started unleashing, you enabled them for 7 years

GamalNasser:

Smh. No o, you buy bank to eat it ni(pun intended). I know folks like you who think you get sense .

Please go and buy a bank first and come tell us if you bought it to end up in jail like the founders of Bank Phb, Oceanic,
Intercontinental, Skye bank (same Polaris bank) etc.

Most of you will never learn until they disgrace you like Cecilia Ibru, Erastus Akingbola, Francis Atuche, Timothy Oguntayo etc.

Most of you are naive and gullible enough to believe nothing will happen when you are being deceived to go into shaddy stuffs in a heavily regulated industry like banking only for you to be abandoned in jail by your 'smart' advisers.

Even though I know you won't hear but do not lead others to jail. Once he takes your kind of idea of fraud, he will end in jail las las like others. He is better off a farmer than buying a bank not to acquire it but to end up in jail.

This particular bank has sent a lot of folks to jail, destroyed a lot of careers and homes; they start with your kind of sense until the poop hits the fan and they get abandoned to face their problems alone.

One of the minions of the clique

I talk am

The abracadabra APCshit manifesto have started taking shape already..

North! Spits

Underhand Mutumuna deal. Kosiwere Man...

FreeStuffsNG:

Smh. No o, you buy bank to eat it ni(pun intended). I know folks like you who think you get sense .

Please go and buy a bank first and come tell us if you bought it to end up in jail like the founders of Bank Phb, Oceanic,
Intercontinental, Skye bank (same Polaris bank) etc.

Most of you will never learn until they disgrace you like Cecilia Ibru, Erastus Akingbola, Francis Atuche, Timothy Oguntayo etc.

Most of you are naive and gullible enough to believe nothing will happen when you are being deceived to go into shaddy stuffs in a heavily regulated industry like banking only for you to be abandoned in jail by your 'smart' advisers.

Even though I know you won't hear but do not lead others to jail. Once he takes your kind of idea of fraud, he will end in jail las las like others. He is better off a farmer than buying a bank not to acquire it but to end up in jail.

This particular bank has sent a lot of folks to jail, destroyed a lot of careers and homes; they start with your kind of sense until the poop hits the fan and they get abandoned to face their problems alone.

Respect !

Thisis2raw:
Don't be fooled that is been bought by a govt official, that lawal is just a proxy owner

Strategic Capital Investment Limited was registered in CAC just six months ago

Polaris Bank was sold for N1.35 trillion to Strategic Capital Investment Limited (SCIL), a company registered on the Corporate Affairs Commission (CAC) on April 28, 2022

This is shocking, and amounts to financial misappropriation. A company registered just months ago raised 50Billion through what means?

Where is their financial record? EFCC these are matters to be investigated! The north are sucking Nigeria dry…

GamalNasser:
Buhari and his Fulani Mafia should stop decieving themselves

How did Obi acquire a bank?