Things To Know About Newly Appointed Polaris Bank MD, Adekunle Sonola

Things To Know About Newly Appointed Polaris Bank MD, Adekunle Sonola

The new owners of Polaris Bank Limited, Strategic Capital Investment Limited (SCIL), have appointed Mr Adekunle Sonola, as the new Managing Director/Chief Executive Officer.

This followed the acquisition of the 100 per cent equity stake in the bank for N50bn and the agreement to pay the N1.3tn injected into the financial institution by the Central Bank of Nigeria (CBN) over the next 25 years.

Our correspondent highlights some achievements of the newly appointed Managing Director of Polaris Bank, Adekunle Sonola.

The newly appointed MD, Mr Sonola, who is replacing Mr Innocent C. Ike, has over 33 years of experience in the African financial services sector. It should be noted that most recently, he served as the Executive Director of Commercial Banking at Union Bank Plc between January 2015 and March 2021.

He was also the pioneer Regional Managing Director of Guaranty Trust Bank, East Africa, and the Director of Investment Banking at Standard Bank in South Africa.

Sonola has also served on the boards of Airtel Africa Plc and First Bank of Nigeria, where he was the chairman of the bank’s Risk Management Committee.

The new MD of the Bank bagged his Bachelor’s degree in Law from the Obafemi Awolowo University, Nigeria, and has his MBA from the University of Durham.