Business
At Polaris Bank, we are Positioning for Digital leadership and Market Dominance, Says CEO, Adekunle Sonola-
At Polaris Bank, we are Positioning for Digital leadership and Market Dominance, Says CEO, Adekunle Sonola –
Leading digital financial institution, Polaris Bank has assured its customers, financial sector stakeholders, and regulators that the Bank passed its road to recovery years back.
Chief Executive Officer (CEO), of the financial institution, Adekunle Sonola, stated this in a recent interview, with PROSHAREs team of analysts noting that the Bank is currently on the growth path leading to market dominance.
According to him, careful rethinking and re-strategizing corporate plans creates the bedrock of competitive burst and business sustainability, both attributes that Polaris Bank has focused on in the last few years, working with professional bodies such as PwC, Ernst & Young (E&Y), and KPMG across several corporate verticals. “The bank has travelled past the recovery road years back; it is currently on the growth road leading to market dominance.
“Adequate capitalization is a key measure of financial health, providing comfort to depositors and affording balance sheet and business growth. The bank is presently adequately capitalized, operating well above the 10% minimum requirement for National Banks. Nonetheless, we are concluding arrangements to inject Tier II capital into the Balance Sheet to support our growth aspirations. Our shareholders are ready and willing to inject Tier I capital into the books. Having instituted best-in-class risk management practices, and maintaining adequate capitalization to support our growth objectives is not one of the bank’s immediate challenges and will not be in the foreseeable future. The new owners are committed to providing necessary support towards building a strong and resilient financial position to underwrite transactional activities of the Bank for sustainable value creation,” Sonola assured.
Confirming that the Bank now operates a two-prong ideology of controlling the funding cost and growing earning assets at economic pricing, the Polaris Bank boss noted that earning asset growth is something the Bank is driving at from both the investment and risk asset sides of the business.
“The Bank has consistently been growing its asset base year-on-year (Y-o-Y). The Bank’s recently developed strategic plan will guide the Bank to a position of being a major challenger of Tier 1 banks and be the leader among Tier II banks along all the key performance parameters. Furthermore, the bank’s focus is to be one of the most efficient deposit money institutions in the industry, delivering superior value to its stakeholders, our competition is not of size, but value creation.
“We have revamped our go-to-market structure, broadening our customer base, fine-tuning our product, and supporting service offerings, strengthening personnel sales capacities, and improving our loan onboarding processes. We are very confident our Net interest income and margin will witness considerable growth as our strategies mature.”
Clarifying that cost control is a critical part of the Bank’s tactical and strategic roadmap, Polaris Bank Managing Director said its short-term tactics come from its longer-term strategies, adding that at the tactical level, the Bank is strengthening digital deliveries, and upgrading the capabilities and offerings on Digital Bank, Vulte, for an even more intensive and intuitive experience across customer journeys.
Polaris Bank has also improved its digital play, as reflected in the improvement of technological interfaces that feed into the customer’s journey expectations and experiences.
“We intend to build a dominant digitally led retail franchise and continue to reshape the bank’s business processes and support technology to continuously improve enterprise agility. The key thing is to drive top-notch processes and build agility in customer responsiveness.
“The VULTE product is just one of our service offerings. Indeed, we are creating a digital service reality that is customer service-focused. The technology driving this will scale digital service delivery to enhance our customers’ product or service experiences as we front-load features that fit into their expectations and future possible journey outcomes. As financial service platforms get better and continue to be an enabler, a part of the fabric of our modern economy, we will be an integral part of the way people carry out their businesses and we will make their digital journeys an integrated friendly experience. One cannot talk too much about this, but the tea leaves are pointing to a fresh pathway to consumer banking satisfaction.”
Other areas of positive growth in the Bank include the creation of a more powerful customer service experience via improved staff productivity with the best of Polaris Bank staffers driving the process having gone through upskilling and retraining programmes. This ensures we are driving a productivity-sensitive framework that marries staff effort with measurable business contributions.
“We have zeroed in on offering superior customer experience as a competitive tool. The new world of competitiveness requires that corporations are agile and flexible, we are building this into the bank’s operational DNA. Our customer journey experiences have been deconstructed across demographics and the service propositions will soon grace banking halls in the next eighteen months at the latest.
“We plan for a stronger balance sheet, with higher loan quality, greater liquidity, larger capital, and resilience to absorb economic shocks. Our loan asset quality has improved significantly, thereby improving liquidity, earnings, and the bank’s capital. We are primed to improve our cost-to-income ratio (CIR), Capital Adequacy Ratio (CAR), and Cost-of-Risk ratio (CoR). In the recent past, we saw bumps in the risk area with CoR higher than we would like, but more recently risk quality has improved leading to lower CoR.”
With a focus on customer-centricity, risk management, cost optimization, and technological advancements, Polaris Bank is seen as positioning itself as a major player in the industry, offering superior customer experiences and driving financial performance.
The Bank has been decorated as Nigeria’s Digital Bank of the Year in two successive years; it aims to position itself as a dominant digitally-led retail franchise, delivering superior value to stakeholders.
Business
WFA APPOINTS GLOBAL BRAND EXECUTIVES TO EXPANDED LEADERSHIP COMMITTEE
WFA APPOINTS GLOBAL BRAND EXECUTIVES TO EXPANDED LEADERSHIP COMMITTEE
STOCKHOLM — The World Federation of Advertisers (WFA) has announced the appointment of senior executives from leading global brands to its Executive Committee, in a move aimed at strengthening its global influence and industry coordination.
The appointments were unveiled during the WFA Global Marketer Week held in Stockholm.
The new members, drawn from top multinational corporations, include executives from Driscoll’s, Haleon, IKEA and Nissan. They join an already influential body comprising marketing and corporate affairs leaders from major companies such as Best Buy, Danone, Diageo, Grab, Kenvue and Tata Group.
Also joining the Executive Committee are representatives of key advertiser bodies, including Josh Faulks, Chief Executive Officer of the Australian Association of National Advertisers; Simon Michaelides, Director General of the Incorporated Society of British Advertisers; and O’tega Ogra, Vice President of the Advertisers Association of Nigeria and Senior Special Assistant to the President of Nigeria on Digital Communications, Engagement and New Media Strategy.
WFA President David Wheldon and Deputy President Philip Myers of Ferrero will continue in their roles, alongside all regional vice presidents.
The newly appointed members are:
Jiunn Shih, Global Chief Marketing Officer, Driscoll’s
Silas-Lewis Meilus, Global Head of Media Operations, Haleon
Joel Renkema, Global Head of Insights, IKEA
José Román, Corporate Executive, Global Sales and Marketing, Nissan
Josh Faulks, CEO, AANA
Simon Michaelides, Director General, ISBA
O’tega Ogra, Vice President, ADVAN
Industry observers say the expanded committee reflects WFA’s commitment to deeper global collaboration and stronger representation across regions and sectors within the marketing and advertising ecosystem.
Business
FORENSIC INVESTIGATION REVEALS FABRICATED X ACCOUNT TARGETING INEC CHAIRMAN – CPS
FORENSIC INVESTIGATION REVEALS FABRICATED X ACCOUNT TARGETING INEC CHAIRMAN – CPS
The Chief Press Secretary (CPS) to the Chairman of the Independent National Electoral Commission (INEC), Mr. Adedayo Oketola, has said that a purported X (formerly Twitter) account attributed to the Commission’s Chairman, Prof. Joash Ojo Amupitan, SAN, is fake and part of a coordinated disinformation campaign.
In a public statement issued on Monday in Abuja, Mr. Oketola disclosed that a comprehensive, multi-layered forensic investigation conducted by independent cybersecurity experts has conclusively established that the INEC Chairman does not operate any personal X account.
He said, “The Independent National Electoral Commission (INEC) , committed to a full forensic investigation, commissioned an independent forensic cybersecurity expert, who conducted a multi-layered forensic and digital investigation using X platform data, internet archive records, OSINT tools, identity forensics and cross-platform analysis.”
Oketola stressed that all posts, replies, and screenshots linking him to the handle @joashamupitan are fraudulent, forensically unverifiable, and technically impossible.
The controversy began on April 10, 2026, when viral social media posts alleged that the Chairman made a partisan comment — “Victory is sure” — in response to another user, supported by screenshots and purported digital records.
However, the CPS said the forensic investigation uncovered clear evidence of fabrication and impersonation, highlighting the following key findings:
· No Digital Linkage: There is no connection between the disputed X account and Prof. Amupitan’s verified email addresses or phone numbers, as multiple recovery and verification attempts failed to establish any link.
· False BVN/OPay Claims: Data used to suggest ownership of the account only confirms identity and does not establish control of any social media handle, making such claims a logical fallacy.
· Timestamp Manipulation: The alleged reply “Victory is sure” was posted 13 minutes before the original tweet it responded to—an occurrence that is technically impossible and definitive proof of fabrication.
· No Historical Record: Searches on the Internet Archive’s Wayback Machine showed zero evidence of the account or its alleged activity prior to April 2026.
· Non-Existence on X Platform: Live checks confirmed that the alleged reply does not exist and has never existed on the platform.
· Account Renaming Pattern: On the same day the screenshots went viral, the account was renamed @sundayvibe00, set to private, and labelled a “parody account,” indicating deliberate impersonation and damage control.
· Coordinated Multi-Platform Impersonation: At least seven fake accounts across Facebook and Instagram using the Chairman’s identity were identified, pointing to a sustained disinformation effort.
“The forensic evidence is comprehensive, multi-sourced, and unambiguous. The posts attributed to Prof. Joash Ojo Amupitan on X are fabricated. The account is a clear case of impersonation,” Mr. Oketola said.
Quoting one of the independent investigators, he described the development as “a coordinated digital impersonation and disinformation campaign,” warning that advances in artificial intelligence had made it easier to fabricate misleading content.
He urged the public to avoid sharing unverified information, noting that “the fact that content goes viral does not make it authentic,” and called on media organisations to prioritise accuracy over speed.
Mr. Oketola said the independent forensic report had been referred to the law enforcement agencies for necessary action. He also appealed to law enforcement agencies to investigate the origin of the fake account and prosecute those responsible under the Cybercrimes (Prohibition, Prevention, etc.) Act.
He said, “Media organisations, in particular, have a duty to apply strict forensic verification standards to social media posts and screenshots before publishing them, especially when such content implicates public officials or carries serious consequences for public trust and institutional credibility. Accuracy, not speed, must guide reporting in matters of this nature.”
He reiterated that all official communications from INEC are disseminated exclusively through its verified platforms, including its website (www.inecnigeria.org), verified X account (@inecnigeria), official Facebook page, online news portal (www.inecnews.com), formal press statements from its headquarters in Abuja, and official media briefings. Any account purporting to represent the INEC Chairman in a personal capacity, he said, should be treated as fraudulent unless formally verified by the Commission.
Business
How FirstBank is investing in Its People and Building Future Leaders
How FirstBank is investing in Its People and Building Future Leaders
For an average 9-5er, having a job isn’t enough. You want a career that grows with you, gives you stability, and opens doors to bigger opportunities. People everywhere are looking for workplaces that don’t just pay salaries but actually invest in their staff, helping them learn, lead, and succeed.
That’s exactly what FirstBank is doing. The Bank is building a future where every employee has the opportunity to grow, lead, and thrive. Through its human capital management and development agenda, FirstBank is creating numerous pathways for staff to transform their careers and become tomorrow’s leaders.
Conversion Programme: Turning Opportunities Into Careers
Needless to say that there is no desire for the 9-5er to remain in a temporary role when they can secure a full-time career. With FirstBank’s Conversion Programme, eligible non-core employees who have served for at least one year can transition into permanent positions. This initiative ensures that hardworking staff are rewarded with stability, growth, and the chance to contribute more meaningfully to the Bank’s success.
Leadership Programmes: Grooming the Next Generation
FirstBank has designed three flagship programmes to identify and nurture high-potential talents:
- FirstBank Management Associate Programme (FMAP): A 24-month fast-track initiative that grooms future middle managers. Upon completion, participants are promoted to Assistant Manager grade, regardless of their previous grade.
- Leadership Acceleration Programme (LAP): Focused on preparing internal middle-management talents for leadership responsibilities, ensuring the Bank’s succession pipeline remains strong.
- Senior Management Development Programme (SMDP): A programme for senior managers who are proven leaders in their functions and critical to the Bank’s succession plan.
These programmes are not just training—they are career accelerators, designed to put staff on the fast lane to leadership.
FirstAcademy: Learning With Global Standards
Backing these initiatives is FirstAcademy, FirstBank’s corporate university, accredited by the Chartered Institute of Bankers of Nigeria (CIBN).
Staff also benefit from partnerships with institutions like Rome Business School and Association of Chartered Certified Accountants (ACCA), gaining access to world-class training—often at discounted rates
A Workplace That Values People
FirstBank’s parent company, First HoldCo PLC, was named second in the Best Workplaces in Financial Services in Nigeria. The Bank remains firmly committed to responsible employment practices, ensuring that all colleagues are treated with dignity, fairness, and respect.
The Future Is Human
With these initiatives, FirstBank is showing that its greatest investment is its people. By empowering staff through various growth opportunities, the Bank is not just building a workforce, it is cultivating leaders who will shape the future of banking in Nigeria and beyond.
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