The Central Bank of Nigeria (CBN) and the Asset Management Company of Nigeria (AMCON) have formally announced the acquisition of Polaris Bank Limited. CBN’s Director, Corporate Communications Department, Osita Nwanisobi, in a statement on behalf of CBN and AMCON, said Strategic Capital Investment Limited (SCIL) has paid N50 billion for the acquisition of 100 per cent equity of the bridge bank. The statement noted that the new owners, SCIL, have accepted the terms of the agreement for the purchase. The terms include the full repayment of N1.305 trillion, being the…
Read MoreSCIL GROUP BUYS POLARIS BANK FOR N50 BILLION
