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The Central Bank of Nigeria (CBN) has constituted a full Board of Directors for Polaris Bank, Nigeria’s leading digital commercial retail bank. This major transition signals the remarkable achievements of the new management and the future of the bank.
The ten-member board is headed by Dr. Kassim Gidado as Board Chairman. Other Non-Executive Directors include Dr. Akwa Effiong Okon, Mallam Ambursa Abubakar Umar, Mrs. Ayaba M. Ayo-Joseph, Mrs. Subulade Giwa-Amu, and Dr. Onosode Christopher.
Dr. Kassim Gidado, the new Board Chairman, is an academic with over 35 years of experience in Engineering, Project Management, and Strategic Development. He brings a wealth of expertise and a dynamic vision to the Board. Dr. Gidado has held prestigious roles, including Group Managing Director and Chief of Staff at MAG Group Limited, managing a diverse portfolio across 35 countries. His experience in public-private partnerships and infrastructure development will be invaluable to Polaris Bank’s growth.
He has advised governments and industry leaders on strategic and policy issues in procurement, infrastructure, and security. Recently, he championed the North-East Stabilisation and Development Master Plan (NESDMP) for the North-East Development Commission, producing a document to prepare the Commission for its implementation through 2030.
As a respected community leader, Dr. Gidado is the Wazirin Jam’are in Bauchi State. His extensive background will provide invaluable leadership as he assumes the role of Board Chairman.
Dr. Akwa Effiong Okon, who holds a doctorate in Law, has served as a Special Assistant on Finance and later as MD at the Niger Delta Development Commission (NDDC). He is also a Non-Executive Director of FHA Mortgage Bank Limited, where he represented the Federal Government’s interests. A Chartered Accountant, Dr. Akwa has a rich educational background, including a Senior Executive Programme in Strategy, Leadership, and Transformation from the London Business School. He is a fellow of both the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Bankers of Nigeria (CIBN). Previously, he was the Managing Director and CEO of Akwa Savings and Loans Limited, implementing successful turnaround strategies.
Mallam Ambursa Abubakar Umar is an expert in Enterprise Transformation and Development Finance, with over 30 years in the banking industry, including a distinguished tenure at the Central Bank of Nigeria. With 12 years of consulting expertise, he is renowned for his strong risk management skills across various areas including credit, liquidity, and regulatory capital. 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.
Mrs. Ayaba Ayo-Joseph brings over three decades of banking experience and is a member of the Chartered Institute of Bankers of Nigeria (CIBN). As a Non-Executive Director, she offers expertise in Corporate Management, Business Development, and Strategy Execution. She previously served as an Executive Director at Bank PHB, where she played a critical role in delivering transitional change and implementing business continuity plans. Her expertise in Corporate Governance will ensure Polaris Bank adheres to high standards while pursuing sustainable growth. She holds memberships with various professional organizations, including the Nigeria Institute of Management (NIM) and the Nigerian Bar Association.
Mrs. Subulade Giwa-Amu holds an LL.B Hons degree in Law and an MBA from the University of Warwick, UK. With over 30 years in financial services, real estate investment, and business process re-engineering across West Africa, she is currently the Founder & CEO of Brookstone Investments and Properties. Previously, she held leadership positions in Treasury, Corporate, and Commercial Banking at Ecobank Nigeria Plc and First Bank Plc, and served as Managing Director/CEO at FBN Mortgages Limited, leading its turnaround to profitability.
Dr. Onosode Christopher holds a doctorate in Economics from Kent University, UK, and joins the Board with over 30 years of experience in business systems analysis, project management, and policy analysis. His career includes significant roles at multinational companies and financial institutions, such as Shell Petroleum, PricewaterhouseCoopers, and the Debt Management Office of Nigeria (DMO). His sectoral knowledge and strategic insight will contribute to Polaris Bank’s initiatives.
The newly appointed non-executive directors will support the executive management team led by Mr. Kayode Lawal, Managing Director/CEO; Mr. Chris Ofikulu, Executive Director, Retail and Commercial; Mrs. Abimbola Ozomah, Executive Director, Corporate & Investment Banking; and Mr. Sharafadeen Muhammed, Executive Director, Operations.
Mr. Kayode Lawal, with over three decades of banking experience, previously held a distinguished tenure at Sterling Bank Plc as Executive Director in charge of Corporate & Investment Banking. He is a Fellow of ICAN and has enriched his knowledge through executive programs at institutions like Lagos Business School and the University of Oxford.
Mr. Chris Ofikulu, the Executive Director in charge of Retail and Commercial Banking, has over 30 years of banking experience, previously serving as Country CEO at UBA Ghana. He holds a First Class Degree in Industrial Mathematics and an MBA from the University of Lagos, complemented by training at prestigious institutions.
Mrs. Abimbola Ozomah, Executive Director for Corporate and Investment Banking, has over 30 years of experience and a proven track record in driving growth and innovation. She previously served as General Manager and Director of Global Network Banking at Citibank Nigeria and holds an MBA from Warwick Business School.
Mr. Sharafadeen Muhammed, Executive Director in charge of Operations, has over 15 years in finance roles, including Chief Financial Officer at Citibank. A CFA charter holder with an MBA from New York University, he has extensive experience in strategic financial operations.
The formation of this full board, alongside a stronger management team, reinforces the public’s perception of Polaris Bank’s preparedness to maintain a leading position in the post-recapitalization banking industry. The new Board also reflects the ongoing business re-engineering led by Kayode Lawal.
Mr. Kayode Lawal stated, “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 strengthen our position as a leading digital bank in Nigeria. These appointments mark a significant step in Polaris Bank’s journey towards sustained growth and delivering exceptional value to our stakeholders.”
