30 results
- 14 Nov 2023
Interswitch System Glitch: Court Orders Freezing of Accounts in 54 Banks
Justice Peter Lifu (JP) of a Federal High Court sitting in Lagos has granted an order freezing some accounts in about 54 financial institutions in the country where alleged funds from Interswitch…
- 19 Feb 2020
CBN Releases List of Authorised Banks in Nigeria
Central Bank of Nigeria (CBN) has released the list of deposit money banks and financial holding companies operating in Nigeria, meaning that anybody who transacts banking business outside the list…
- 8 Apr 2021
CBN Freezes 84 Bank Accounts of Firms/Persons under Investigation
Central Bank of Nigeria (CBN) has secured an interim order of a federal high court in Abuja, freezing 84 bank accounts belonging to 25 individuals and companies. Those affected by the new order…
- 4 Oct 2018
Polaris Bank, Former Skye Bank Dead on Arrival- Analysts
The withdrawal of the operating license of Skye Bank Plc by the Central Bank of Nigeria (CBN) late September 2018 has continued to generate reactions from experts, analysts and observers. …
- 21 Sept 2018
Skye Bank Dead, Polaris Bank Takes Over
The Central Bank of Nigeria (CBN) has revoked the operating licence of Skye Bank Plc with immediate effect. Godwin Emefiele, Governor of Central Bank, disclosed this during a press briefing in Lagos…
- 18 May 2023
Polaris Bank Clarifies Misunderstanding over Customer’s Account
Polaris Bank Plc, has expressed disappointment over the circulation of misleading social media posts by Anthony Olasele, one of its customers. The bank has made significant efforts to address the…
- 9 May 2024
CBN Unveils List of Licensed Deposit Money Banks
Central Bank of Nigeria (CBN) has released the list of licenced Deposit Money Banks operating in the country. Providing insights into the banking landscape in Nigeria, the list was made public on the…
- 31 Oct 2023
Polaris Bank Reportedly Loses N26Bn Loans to 6 Ex-Directors without Collaterals
Polaris Bank has lost N26.005 billion worth of loans granted to 6 ex-directors, mostly without collaterals. Economy Post found from the bank’s 2022 annual report that 5 out of the six ex-directors…
- 25 Feb 2020
EFCC Arraigns Polaris Bank Staff for Allegedly Stealing Customer’s N12.6m
Economic and Financial Crimes Commission (EFCC) on Tuesday arraigned Babatunde Keshinro, a staff of Polaris Bank, formerly Skye Bank Plc, in an Ikeja Special Offences Court for allegedly stealing…
- 24 Aug 2020
Polaris Bank MD, Abiru, Retires
Mr. Tokunbo Abiru, Managing Director/Chief Executive Officer of Polaris Bank Limited, has announced his retirement from the service of Polaris Bank, effective August 31, 2020, having successfully…
- 20 Oct 2022
CBN, AMCON Complete Acquisition of Polaris Bank by SCIL
The Central Bank of Nigeria and the Asset Management Company of Nigeria have formally announced the completion of a Share Purchase Agreement for the acquisition of 100 per cent of the equity in…
- 25 May 2026
NIBSS Blames System Glitch for Disappearance of N13.66Bn, Seeks Court Nod for Recovery
Nigeria Inter-Bank Settlement System Plc (NIBSS) has sued 19 commercial and microfinance banks, over N13.66 billion allegedly lost to unauthorized transfers following a major glitch on its payment…
- 30 Aug 2020
Polaris Bank, AMCON Tap Innocent Ike to Replace Abiru as MD/CEO
Board of Polaris Bank Limited and Asset Management Corporation of Nigeria (AMCON), the Bank’s shareholder, have announced the appointment of Mr Innocent Ike, as the acting managing director/CEO of…
- 27 Apr 2024
CBN Licenses Unified Payments as Second Provider for PTSA Services for Nigeria
Central Bank of Nigeria (CBN) has awarded the country’s second Payment Terminal Service Aggregator (PTSA) license to Unified Payments, Nigeria’s premier financial technology company, following a…
- 2 Feb 2025
Customers’ USSD Access Intact as Banks’ Settle USSD Debt
Almost all e nine banks earmarked for disconnection from Unstructured Supplementary Service Data (USSD) service over a N160 billion debt have reportedly made good progress in terms of repayment,…
- 16 Jun 2019
NSE Raises Red Flag on 34 Firms, Issues Caveat
Nigerian Stock Exchange (NSE) has placed cautionary red alerts on 34 companies for their inability to meet listing requirements, implying underlying corporate governance weaknesses that investors…
- 17 Dec 2018
EFCC Docks Ex-Skye Bank’s Chair, MD over Alleged N4.75Bn, $5m Fraud
Tunde Ayeni and Timothy Oguntayo, former chairman and managing director respectively of Skye Bank Plc (now Polaris Bank) – – have been arraigned in relation to alleged money laundering offences…
- 9 Mar 2021
Firm Asks Court to Freeze SAP Accounts over Alleged Contract Breach
B4G Consulting Ltd has asked a Lagos State High Court to restrain Systems Applications Products (SAP) from dissipating $3,371,945.27 and N5mllion with 28 Respondents including the Central Bank of…
- 5 Mar 2019
How Ayeni, Ex-Skye Bank Boss Withdrew N17.4Bn Cash in 1 Year – EFCC
Economic and Financial Crimes Commission (EFCC) has said that Mr Tunde Ayeni, former chairman of the defunct Skye Bank Plc (now Polaris Bank), took N17.4bn raw cash from the suspense account of the…
- 21 Aug 2019
NSE Delists Skye Bank, Fortis Microfinance Bank
Two companies formerly trading their shares on the floor of the Nigerian Stock Exchange (NSE) have finally been delisted from the platform. The two affected firms are Skye Bank Plc and Fortis…
- 8 Oct 2018
Ex Skye Bank Directors Panic as FG Mulls Punishment for Banking Collapse
Former directors of the defunct Skye Bank Plc are reportedly seeking for soft-landing, following a directive by federal government last week that the former bankers would be used as scapegoat to stop…
- 27 Sept 2019
NDIC Pays N116.2Bn to Depositors of Dead Banks
Nigeria Deposit Insurance Corporation (NDIC) said it has paid a total sum of N116.258billion to depositors and customers of defunct banks last year. Alhaji Umaru Ibrahim, managing…
- 17 Nov 2018
Skye Bank Management Tampered with Figures to Deceive CBN, Others
More information are beginning to emerge on what led to the actual death of Skye Bank Plc few months ago, when the Central Bank of Nigeria (CBN) revoked its operating licence and changed it to…
- 3 Jun 2019
SEC Directs Skye Bank Shareholders to Claim Dividend Payment
Securities and Exchange Commission (SEC) has directed shareholders of defunct Skye Bank plc to claim their dividend payment. The apex capital market regulator in its circular said, “Investors…
- 2 Jun 2019
CWG Seals ‘ATM as a Service’ Implementations with Banks
Nigeria’s CWG Plc said it has sealed a partnership deal with three Nigerian banks on the ATM as a Service concept, which it deployed about two years ago; giving the banks the needed freedom to focus…
- 12 Nov 2018
Insider Abuse, Banking Malpractices Killed Skye Bank - Report
Risk Assessment and Forensic Investigation Reports has revealed that the erstwhile management of the failed Skye Bank Plc. contributed to its failure by engaging in insider abuse, poor corporate…
- 25 Aug 2024
#EndBadGovernance Protest: Court freezes 32 individuals, coys’ bank accounts
A Federal High Court in Abuja has frozen the bank accounts of 32 individuals and companies’ linked to the 10-day #EndBadGovernance Protest organised across the country pending investigation and…
- 24 Apr 2026
EFCC Detains Ayeni, Ex-Skye Bank Chairman over Alleged N36.5Bn, $30m Fraud
Economic and Financial Crimes Commission (EFCC), has detained Tunde Ayeni, former chairman of defunct Skye Bank Plc, for alleged fraud involving N36.5 billion and $30 million. Tunde Ayeni, former…
- 4 May 2026
Court Remands Ayeni, Ex-Skye Bank Chair over Alleged N8Bn Money Laundering Charges
Tunde Ayeni, a businessman and former chairman of the defunct Skye Bank Plc, has been remanded at the Kuje Correctional Centre in Abuja. Tunde Ayeni Ayeni was arraigned on Monday at the Federal…
- 7 Apr 2019
NDIC Saves 6,000 Jobs in Defunct Skye Bank
The Nigeria Deposit Insurance Corporation (NDIC) has said the corporation was able to save 6,000 workers from being dismissed from defunct Skye bank (now Polaris) as a result of poor handling of the…