History of Polaris Bank

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History of Polaris Bank

Polaris Bank was established by the Central Bank of Nigeria (CBN) on September 21, 2018 to provide commercial banking services to the Nigerian public. The bank commenced operations on the same day, after acquiring assets and taking on some of the debt of the defunct Skye Bank.


With more than 350 branches across the country, Polaris Bank prides itself on delivering an exceptional customer experience, making the best use of cutting-edge Information and Communications Technology (ICT). By focusing on ICT solutions across multiple service delivery channels (mobile banking, ATM, POS and online platforms), Polaris Bank maintains a pivotal role in the Nigerian banking industry, providing providing customers with simple, convenient and safe banking services.

Business Operation

Polaris Bank is active in all major market segments of the Nigerian and West African economies, serving a broad client base in both the public and private sectors, including large and small corporate organisations, SMEs, professional groups and institutions. It offers. Our main business areas are:



  • Retail banking
  • Signboard making
  • Corporate business
  • Investment banking
  • International business and trade services
  • Ministry of Finance
  • Shipping and air
  • Telecommunications
  • Project and Structured Finance
  • Public agency


The bank’s board of directors is made up of prominent Nigerians with a wealth of experience gained in diverse professions and different sectors of the economy. The diverse backgrounds of these tried and tested individuals have helped formulate a clear strategic direction and focus for the bank that has been responsible for its success to date. Led by Alhaji M. K Ahmad (OON), a strong advocate of corporate governance and ethical institution building.

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Polaris Bank is led by an experienced and skilled professional management team with diverse yet complementary competencies and skills, led by Managing Director and Chief Executive Officer, Mr. Adekunle Sonola. I’m here.


The management team supervises and directs the bank’s various departments to support the CEO in achieving the institution’s business goals.


Check the official website here

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