Polaris Bank Makes Board Appointments, Names Gidado Chairman

Central Bank of Nigeria

The Central Bank of Nige­ria (CBN) has constituted a full board of directors for Polaris Bank, Nigeria’s leading digital commercial retail bank in a major tran­sition that signals the re­markable achievements of the new management and the future of the bank.

The ten-man board is headed by Dr. Kassim Gida­do as chairman.

Other non-executive di­rectors include: Dr. Akwa Effiong Okon, Mallam Ambursa Abubakar Umar, Mrs. Ayaba M. Ayo-Joseph, Mrs. Giwa-Amu Subulade Ibironke and Dr. Onosode Christopher.

Mr. Kayode Lawal, MD/ CEO of the bank, said the diverse expertise and ex­perience of the new board members would further 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 aimed at strength­ening 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.”

A statement noted that Dr. 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 prestigious roles, including Group Manag­ing Director and Chief of Staff at MAG Group Lim­ited where he managed a diverse portfolio of compa­nies across 35 countries.

His extensive experience in public-private partner­ships and infrastructure development, among other strategic footprints, will be invaluable to the growth and development of Polar­is Bank.

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.

A community leader of repute, Dr. Gidado is the Wazirin Jam’are in Jam’are Local Government Area in Bauchi State. His extensive academic, public service and professional background will provide invaluable leadership as he assumes the role of board chairman.

Dr. Akwa Effiong Okon, who holds a doctorate in Law, has experience as a Special Assistant on Fi­nance and later MD at the Niger Delta Development Commission (NDDC) in Port Harcourt and as a Non-Executive Director of FHA Mortgage Bank Limit­ed in Abuja, where he repre­sented the Federal Govern­ment’s interest.

A Chartered Accountant, Dr. Akwa is an accomplished professional with a rich educational background, including attending 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 is also a lawyer. His notable roles include serv­ing as the Managing Di­rector and CEO of Akwa Savings and Loans Limited from 2007 to 2013, where he successfully implemented turn-around strategies for the mortgage finance insti­tution owned by the Govern­ment of Akwa Ibom State, Nigeria.

Mallam 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 is renowned for his strong risk management skills and extensive expe­rience in product manage­ment across various areas including credit, liquidity, market risks, regulatory capital and customer ex­perience. His deep under­standing and dedication to excellence makes him a valuable addition to Polaris Bank’s board.

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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 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. Her Corporate Governance and Strategic Planning footprints will ensure that Polaris Bank continues to adhere to the highest stan­dards while pursuing sus­tainable growth.

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.

Mrs. 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).

Dr. 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.

The newly appointed non-executive directors will provide support for the ex­ecutive management team led by Mr. Kayode Lawal and supported by 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 Sharafadeen Muhammed, Executive Di­rector, Operations.

Mr. Kayode Lawal is a seasoned professional with over three decades of expe­rience in the banking indus­try. Prior to his appointment with Polaris Bank, he had a distinguished tenure at Sterling Bank Plc, where he held the position of Ex­ecutive Director in charge of Corporate & Investment Banking. He is committed to excellence and leader­ship in the banking in­dustry which was evident throughout his career. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an Associate Member of the Chartered Institute of Tax­ation of Nigeria (CITN). Ad­ditionally, he has enriched his professional knowledge through executive educa­tion programmes at pres­tigious institutions such as Lagos Business School, University of Oxford, Co­lumbia University Gradu­ate School of Business and Massachusetts Institute of Technology.

Mr. Chris Ofikulu is the Executive Director in charge of Retail and Commercial Banking for the bank. He possesses ex­tensive experience in the banking sector, spanning over 30 years. Prior to his appointment by the CBN on January 10, 2024, he held the position of Country CEO at UBA Ghana and Managing Director at Diamond Pen­sion Fund Custodian Lim­ited.

He holds a First Class Degree in Industrial Math­ematics from the University of Benin and an MBA from the University of Lagos. He has, over the years, attended high-impact and prestigious business training at The Wharton Business School, IESE Business School and Lagos Business School. Ad­ditionally, he has received training in Leadership and Corporate Governance from the Henley Business School and completed the Ad­vanced Company Direction Programme at the Institute of Directors (IoD), London.

Mrs. Abimbola Ozomah is the Executive Director in charge of Corporate and Investment Banking. She brings over three decades of experience in the bank­ing and financial services industry, with a proven track record of driving growth and innovation. Up until April this year, Mrs. Ozomah was the General Manager and Director of Global Network Banking at Citibank Nigeria, where she headed the Specialized Industries Division as a Se­nior Executive.

She had overall respon­sibility for the bank’s high-revenue portfolio, which comprised strategic specialised industry seg­ments for multinational corporations across oil & gas, manufacturing, phar­maceuticals, technology, digital natives, and media. Her role also included man­aging related value chains and selecting top-tier local corporate relationships.

She holds an MBA de­gree from Warwick Busi­ness School, University of Warwick, Coventry, UK, and a Bachelor’s degree in Economics from Obafemi Awolowo University, Ile-Ife, Osun State.

Mr. Sharafadeen Mu­hammed is the Executive Director in charge of Op­erations of the bank. He served as the Chief Finan­cial Officer (CFO) at Citi­bank, where he oversaw significant financial oper­ations and strategic initia­tives. With over 15 years of experience in high-level finance roles, including a notable tenure at Citibank Nigeria, he has demonstrat­ed strong strategic insight and financial acumen. A CFA charter holder with an MBA from New York Uni­versity, Sharafadeen’s ca­reer began at Citigroup as Vice President of Corporate Financial Planning & Anal­ysis. His roles at Citibank Nigeria included Head of Strategy & Business Plan­ning and CFO. He has also attended high-level leader­ship training at Ivy League institutions.