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AMCON to Sell Polaris Bank Before 2021

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By Modupe Gbadeyanka

Last month, the Central Bank of Nigeria (CBN) revoked the operating license of Skye Bank Plc, announcing Polaris Bank Limited as a bridge bank.

The move by the apex bank generated mixed reactions with some observers pointing out that retaining the management of the Skye Bank appointed by the CBN to manage Polaris Bank was a wrong move.

In a recent interview with Bloomberg in Lagos, Managing Director of Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Kuru, disclosed that the agency would sell off the bank in less than two years.

According to him, discussions have been held with the management of Polaris Bank and it was agreed that the “divestment must be quick” and must happen before 2021.

He said AMCON will advertise for financial advisers for the sale of Polaris Bank after an investigation into the cause of its capital and liquidity challenges, adding that individuals suspected to have contributed to Skye Bank’s collapse would be prosecuted with a view to recovering any bad loans linked to them.

Mr Kuru noted that Skye Bank was nationalise, “Because we have put a lot of money there, where we find out that something wrong has been done, I can assure you that people will be held responsible.”

He further explained that the intervention was also to save more than 5,000 jobs and almost N1 trillion in deposits.

The AMCON chief said the Nigerian authorities discovered “a lot of systemic issues” in Skye Bank, necessitating the takeover.

“It’s a very big bank and if you allow anything to happen to it, it will affect some other financial institutions,” he said, adding that AMCON has no plans to establish another rescue package for the country’s banks.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Banking

Access Bank, King’s Trust International Partner on Africa’s Sustainable Growth

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By Modupe Gbadeyanka

A partnership to expand opportunity, entrepreneurship, and sustainable livelihoods for young people across Africa has been signed by Access Bank and King’s Trust International (KTI).

The cooperation marks a significant milestone in advancing cross‑sector collaboration to address youth unemployment, foster entrepreneurship, and drive inclusive growth across Africa.

Under the agreement, Access Bank will support the delivery of KTI’s programmes that empower young people across several African countries, supporting them to gain skills and find pathways into meaningful employment and self-employment across Africa.

It was learned that the collaboration brings together KTI’s expertise in youth development with Access Bank’s pan‑African reach and long‑standing commitment to inclusive and sustainable growth.

Through this alliance, the two organisations will work to equip young people with the skills, confidence and support needed to build successful futures through employment and entrepreneurship.

“At Access Bank, we believe that empowering young people is fundamental to Africa’s sustainable growth. Our partnership with King’s Trust International reinforces our commitment to entrepreneurship, job creation and inclusive development, while enabling us to play a purposeful role in shaping the continent’s future,” the chief executive of Access Bank, Mr Roosevelt Ogbonna, stated.

The chief executive of KTI, Mr Will Straw, while also commenting, said, “This partnership with Access Bank reflects a shared commitment to unlocking the potential of young people across Africa. By combining our experience in youth development with Access Bank’s scale and leadership across the continent, we can create meaningful pathways to opportunity and long‑term impact.”

The signing ceremony was witnessed by senior leaders and representatives from both organisations, alongside distinguished guests, including Mr Aigboje Aig‑Imoukhuede, who is the co-Chair of KTI Africa Advisory Board and Chairman of Access Holdings Plc.

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Zenith Bank Appoints Kennedy Onuwa Okwudili to Board

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By Aduragbemi Omiyale

Mr Kennedy Onuwa Okwudili has been appointed to the board of Zenith Bank Plc as an executive director with effect from May 1, 2026.

A statement signed by the company secretary, Mr Michael Otu, disclosed that the appointment aligns with the financial institution’s “tradition and succession strategy of grooming leaders from within” to strengthen its executive management further.

He is joining the board with over 25 years of cognate banking experience spanning credit and marketing, treasury, compliance, as well as operations and has at different times worked in various zones and departments of the lender.

Mr Okwudili graduated with a Bachelor of Science (Honours) in Accounting from the University of Maiduguri, Nigeria, in 1998, with a Second Class Upper Division. He obtained a Master’s of Business Administration (MBA) from Ahmadu Bello University, Zaria, Nigeria, in 2008 and a Master’s of Science in Accounting from Veritas University, Abuja, Nigeria, in 2021.

He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), 2013, and also a Fellow of the Chartered Institute of Bankers of Nigeria, 2024. He is an Associate of the Chartered Institute of Taxation of Nigeria (CITN), 2016.

The banker has attended several executive education programmes both within and outside the country, including Senior Leadership Development Programme at the Lagos Business School, Corporate Directorship Programme at the Harvard Business School and Oxford Advanced Management and Leadership Programme at the University of Oxford, SAID Business School.

He is currently the President of Catholic Bankers Association of Nigeria (CBAN) and a member of the Noble Order of the Knights of St. John International (KSJI).

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Fidelity Bank Plans Webinar on Fiscal Solutions for Public Sector

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By Aduragbemi Omiyale

A high-level virtual webinar focused on helping public institutions to strengthen revenue systems, improve fiscal transparency, and build smarter digital structures for collections, oversight, and accountability is being planned by Fidelity Bank Plc.

This event is slated for Tuesday, March 24, 2026, under the theme Digital Fiscal Transparency: Unlocking Sub-national Opportunities for International Partners.

The programme will bring together a cross-section of public sector leaders, development institutions, heads of parastatals and agencies, as well as financial experts, to explore practical solutions for stronger public finance management.

It is expected to offer timely insights into how modern revenue infrastructure can help institutions improve efficiency, drive accountability, and support better fiscal outcomes.

The webinar will address key issues facing many public institutions today, including revenue leakages, fragmented collection channels, weak visibility into revenue performance, poor reconciliation processes, and the growing need for more transparent and technology-driven systems.

“As public institutions seek ways to improve internally generated revenue and strengthen public trust, there has been a renewed focus on fiscal transparency.

“This is particularly important in the face of recent macro and micro economic developments with many public sector agencies under pressure to do more with limited resources,” the Divisional Head of Public Sector at Fidelity Bank, Mr Richard Madiebo, said.

“It is against this background that we have conceptualised this session with a particular focus on how digital platforms can support structured invoicing, seamless collections, payment automation, contractor disbursement transparency, real-time revenue oversight, amongst other pertinent areas of revenue mobilisation and administration in Nigeria,” he added.

“The webinar forms part of our commitment to provide practical solutions that support public sector transformation and stronger sub-national development. This is in line with Fidelity Bank’s mandate to help individuals to grow, businesses to thrive, and economies to prosper,” Mr Madiebo further disclosed.

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