List of Nigerian bank founders, as Lawan Auwal buys Polaris Bank to join Elumelu, Jim Ovia and others


  • The Central Bank of Nigeria revealed that the banking sector consists of 21 commercial banks
  • These banks are owned by astute Nigerians who have made a name for themselves in various fields.
  • Lawan Auwal is the latest addition to the list, joining Elumelu and Jim Ovia after his company completed its acquisition of Polaris Bank.

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Lawan Auwal has been revealed as the man behind Strategic Capital Investment Ltd. (SCIL), the company that bought Polaris bank from the Central Bank of Nigeria and the Nigerian Asset Management Corporation.

SCIL paid 50 billion naira to take over the bank and will pay an additional 1.3 trillion naira over the next 25 years.

The money is what CBN and AMCON spent to host the bank after they took it from Skye.

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The new owner of Polaris bank, Lawal Anwal
Lawal Anwal, the new owner of Polaris Bank, is a smart businessman and the son-in-law of former Nigerian head of state Babangida. Credit: @lawal
Source: Facebook reported that SCIL agreed to pay all expenses incurred by the Nigerian government during the negotiation of the agreement.

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Who is Lawan Auwal?

Details obtained by Ripples Nigeria showed that Lawan Auwal Abdullah is the man behind Strategic Capital Investment Limited.

Information from the Corporate Affairs Commission shows that SCIL is owned by Ponglomerape Limited, which has Lawan Auwal, Lawan Abdullahi, Lawan Shaibu and Lawan Jamilu on its board of directors.

Ponglomerape Limited is engaged in the business of agriculture, civil engineering and property development.

Lawan, who is Sarkin Sudan de Gombe, is the son-in-law of Ibrahim Badamasi Babangida, the former head of state of Nigeria between 1985 and 1993.

His wife, Halima, the daughter of Babangida, is his third wife, whom he married in 2017 amid great fanfare in two states, Niger and Gombe, with nine ceremonies held over four days, reportedly costing around N300 million. , according to societal lifestyle magazine. Ecomio.

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Lawan is also a respected businessman and philanthropist.

Some notable bank owners in Nigeria

Zenith Bank – Jim Ovia

UBA – Tony Elumelu

Fidelity- Mustafa Chike-Obi

GTB- Tajudeen Afolabi Adeola

New Polaris Board Members

Meanwhile, Polaris Bank has announced a change in management following its acquisition by SCIL.

The new board will be led by current chairman MK Ahmad, who will be joined on the board by six non-executive directors and three executive directors, it said in a statement on Friday.

AdekunIe Sonola, former CEO of Union Bank, is the managing director and chief executive officer of the bank.

The members of the new board are:

  • MK Ahmad (Chairman)
  • Abubakar Danlami Suleiman (Non-Executive Director)
  • Salma Mohammed (Non-Executive Director)
  • Adeleke Alex Adedipe (Non-Executive Director)
  • Ahmed Almustapha (Non-Executive Director)
  • Francesco Cuzzocrea (Non-Executive Director)
  • Olabisi Olubunmi Odunowo (Non-Executive Director)
  • AdekunIe Sonola (Executive – MD/CEO)
  • Abdullahi S Mohammed (Executive Director)
  • According to Opeke (Executive Director)

FG announces names of 19,847 companies that can apply for their contract in 2022

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In another report, the federal government drew up a list of 19,847 Nigerian companies eligible to participate in ministerial contracts.

The list was drawn up based on companies’ compliance with employee pensions and insurance.

The companies listed are from media to health and agriculture and banks, among several others.



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