CBN appoints Board of Directors for Polaris Bank

The Central Bank of Nigeria (CBN) has constituted a full board of directors for Polaris Bank, Nigeria’s digital commercial retail Bank signalling a transition for the Bank.

Kassim Gidado heads the board, as chairman while other non-executive directors include Akwa Effiong Okon, Ambursa Abubakar Umar, Ayaba M. Ayo-Joseph, Giwa-Amu Subulade Ibironke and Onosode Christopher, a recent report stated.

Kayode Lawal, managing director/chief executive officer of the Bank said the diverse expertise and experience of the new board members would enrich on-going strategic initiatives aimed at strengthening their position as a leading digital bank.

“We are thrilled to welcome these seasoned professionals to the board of Polaris Bank. Their diverse expertise and leadership qualities will be invaluable as we drive our strategic initiatives to strengthen the bank as a leading Nigeria digital bank.”

“These appointments mark a significant step in Polaris Bank’s journey towards achieving sustained growth and delivering exceptional value to our stakeholders,” he said.

Kassim Gidado, the new board chairman, is an academic with over 35 years of experience in the fields of Engineering, Project Management and Strategic Development. He brings a wealth of expertise and a dynamic vision to the bank’s board.

He has held different roles, including group managing director and chief of staff at MAG Group Limited where he managed a diverse portfolio of companies across 35 countries.

Over the years, he has advised governments and captains of industry on several strategic and policy issues in procurement, infrastructure development, and security.

He recently championed the development of the North-East Stabilisation and Development Master Plan (NESDMP) for the North-East Development Commission. He produced the document that sets the Commission up in the mode for Readiness-for-Execution for the implementation of the NESDMP until the year 2030.

Akwa Effiong Okon who holds a doctorate in Law, has experience as a special assistant on Finance and later managing director at the Niger Delta Development Commission (NDDC) in Port Harcourt. He has also been a non-executive director of FHA Mortgage Bank Limited in Abuja, where he represented the Federal Government’s interest.

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He is a chartered accountant and has attended the Senior Executive Programme on Strategy, Leadership and Transformation at the London Business School.

He holds fellowships with both the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Bankers of Nigeria (CIBN).

He served as the managing director and CEO of Akwa Savings and Loans Limited from 2007 to 2013, where he implemented turn-around strategies for the mortgage finance institution owned by the Government of Akwa Ibom State, Nigeria.

Ambursa Abubakar Umar is an expert in Enterprise Transformation and Development Finance with over 30 years of experience in the banking industry, including a distinguished tenure at the CBN.

With 12 years of consulting expertise, Mallam Ambursa has risk management skills and experience in product management across various areas including credit, liquidity, market risks, regulatory capital and customer experience.

He holds a Master of Science in Banking & Finance from Bayero University, Kano and a Bachelor of Science in Economics from the University of Sokoto.

Ayaba Ayo-Joseph has over three decades of experience in the banking industry. A member of the Chartered Institute of Bankers of Nigeria (CIBN), she brings to the Board as a non-executive director a wealth of experience in Corporate Management, Business Development, and Strategy Execution.

Her track record includes serving as an Executive Director at Bank PHB, where she played a critical role and delivered transitional change between 2010 and 2011 following her appointment by the CBN. She is credited with implementing business continuity plans and driving profitability during the transition period.

She holds various professional memberships, including with the Nigeria Institute of Management (NIM), the Nigerian Bar Association, and WIMBIZ (Women in Management, Business, and Public Service.

Giwa-Amu Subulade Ibironke, a Lawyer by training, holds an MBA degree from the University of Warwick, UK and brings over 27 years of experience in financial services, real estate investment & development and business process re-engineering across the West African region to the Polaris Bank Board.

Giwa-Amu will leverage her expertise in Corporate Transformation, Strategic Management and Real Estate Structuring to support Polaris Bank’s drive in corporate banking initiatives.

Her extensive background includes notable board positions and successful leadership roles. She is the founder & CEO of Brookstone Investments and a former managing director/CEO at International Commercial Bank (FBN Bank Ghana).

Onosode Christopher holds a doctorate in Economics and energy major from Kent University, UK. He joins the Board with over 30 years of experience in business systems analysis and design, strategy and operations, project management and policy analysis.

Onosode’s career spans significant roles and measurable impact with multinational companies and financial institutions, including Shell Petroleum, UK, PricewaterhouseCoopers and the Debt Management Office of Nigeria (DMO). His deep sectoral knowledge and strategic insight will contribute to the drive of Polaris Bank’s operations and strategic initiatives, moving forward.