Bank
Inside Sources Reveal True Situation at Polaris Bank Limited, Clarify Falsehood and Media Attacks against Bank
Inside Sources Reveal True Situation at Polaris Bank Limited, Clarify Falsehood and Media Attacks against Bank
Sahara Weekly Reports That Sources within Polaris Bank Limited have revealed the true situation in the financial institution that a section of the media has falsely spun around.
According to the sources, there is no such thing as a controversy trailing the Bank, as the reaction within the financial institution stems from some staff’s inability to understand and accept positive and productive changes in the Bank’s operation.
Speaking exclusively with this medium, one of the sources who pleaded anonymity noted that when the new investors acquired Polaris Bank Limited, they set new goals and objectives to drive it to a greater height.
He added that strategies put in place to achieve these set targets are what some of the Bank’s staff are kicking against because it’s a change from the status quo.
“As you know, there are some basic things when a new owner acquires a business, be it a bank or whatever, he examines the profit and loss channels associated with such company and tries to promote the successful sides while eliminating the negative sides. It is all in a bid to boost profitability.
“In the case of Polaris Bank, what has happened is simple, the new owners want to avoid a run-of-the-mill approach to managing the Bank because they have seen where such leads. They have brought in their wealth of experience and are plucking the worms that are feeding fat on the Bank so that it can become a profitable entity; this is what is leading to the hues and cries you are hearing from some aggrieved staff of the Bank who are now doing their banking on social media pages.
“Polaris Bank operates with the best standard and corporate governance you could imagine.
” change and Innovation are often frowned upon, but the truth is that Polaris Bank is witnessing its best years in a very long time with this new management, they are trying and will do better. It is those who have been exploiting the Bank and have now found out that their channels of exploitation are being threatened that are causing trouble where there is none,” the source noted.
Another source within the Bank who gave his name as Tosin Mohammed (Not his Real Name) noted that it is a shame that people considered enlightened and exposed would feign ignorance of the situation they know about.
According to him, some of the Bank’s staff obtained loans and have refused to serve them because of the Bank’s magnanimity. Attempts by the Bank to recoup these monies have seen them shouting blue murder. Indeed, some staff have sorted their case out while others are genuinely working on recovering the loans. Of course, some weak minded staff resorted to sponsoring social media stories to bend the hand of the management of the bank.
“Talks that individuals and enterprises are taking their money away from the Bank to other banks is a big lie, as Polaris Bank is in the best condition it has ever been in a long while,” Mohammed concluded.
In October 2022, the Central Bank of Nigeria (CBN) sold Polaris Bank to Strategic Capital Investment Limited (SCIL).
On the accusations of staff accrued Uber expenses being taken at once by the new management, a source privy to the inner workings disclosed that Audit revealed an abuse of the process where some Managers were using Uber on public holidays and unauthorized hours.
On late meetings, the source explained that although there are frequent meetings but not late meetings. ‘”Of course, what do you expect when new management comes on board, you expect Strategy sessions, meetings, retreats, Monthly and Quarterly reviews to discuss vision, business plans, and performance.” It is nothing new, he averred.
The source further explained that most of the unfounded negatives pushed around against the Bank are likely from staff currently being investigated for various infractions and being questioned.
“What of some staff who actually colluded with customers to avail loans only to abscond to foreign countries”. He concluded that there is a new order trying to put things right for the good of the Bank.
Since the constitution of the Bank’s new board, Polaris has hit the ground running, enthroning a new work culture and improving its earnings. It has also been celebrated with several awards, including the ‘MSME Bank of the Year 2022’ in the BusinessDay’s Banks and Other Financial Institutions (BAFI) Awards, Best Digital Bank: VULTe by Nigeria Fintech Award, and African Digital Bank of the Year presented by African Leadership Award.
ZENITH BANK OPENS MANCHESTER BRANCH TO SUPPORT CROSS-BORDER TRADE AND INVESTMENT
Zenith Bank Plc has announced the opening of a new branch in Manchester, United Kingdom, marking another significant milestone in the bank’s international growth and its commitment to strengthening financial connections between Africa and global markets.
The official opening ceremony, scheduled to hold on Tuesday, March 17, 2026, is expected to attract government officials from Nigeria and the United Kingdom, regulators, investors, customers, and business leaders from both countries, underscoring the growing economic ties and investment opportunities between the two markets.
The new Manchester branch will complement Zenith Bank’s existing operations in the United Kingdom and serve as a strategic hub for supporting businesses engaged in international trade and investment. Through the branch, the bank will provide corporate banking, trade finance, treasury and related financial services to clients operating across the United Kingdom, Europe and Africa.Speaking ahead of the launch, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON, said: “The opening of our Manchester branch represents another important step in Zenith Bank’s growth as a leading African financial institution connecting businesses and markets across continents. Manchester is one of the United Kingdom’s most dynamic commercial centres, and our presence here will further strengthen financial connections between businesses in the UK and opportunities across Africa’s rapidly expanding markets.
”Founded in 1990 by its Founder and Chairman, Jim Ovia, CFR, Zenith Bank has grown into one of Africa’s most respected banking institutions, boasting a robust capital base and a remarkable history of year-on-year profitability. Built on a strong foundation of people, technology and service, the Bank has consistently delivered innovative financial solutions while maintaining a disciplined approach to growth and risk management. The impressive performance of the Bank has consistently earned it excellent ratings, recognition and endorsement from local and international agencies and institutions.Headquartered in Lagos, Nigeria, Zenith Bank operates over 500 branches and business offices across the 36 States of the Federation and the Federal Capital Territory (FCT). The Bank currently operates subsidiaries in several African countries including Ghana, Sierra Leone, Gambia, and Cote d’Ivoire, while maintaining a presence in major international financial centres including the United Kingdom, France, UAE and China.
In recent years, Zenith Bank has continued to expand its international network as part of its strategy to support global trade and investment flows involving Africa.Manchester, widely regarded as one of the United Kingdom’s most vibrant economic centres, hosts a diverse base of businesses across sectors such as manufacturing, engineering, logistics, technology and consumer goods. The city’s strong commercial ecosystem and international outlook align closely with Zenith Bank’s expertise in corporate banking, structured finance and trade finance.The Manchester branch will work closely with the Bank’s London operations and its broader international network to support clients seeking to expand across markets and unlock new opportunities in both the United Kingdom and Africa.
With the opening of the Manchester branch, Zenith Bank continues to advance its vision of building a truly global African banking institution that connects businesses, facilitates trade and investment, and creates stronger economic bridges between Africa and the world.
Alpha Morgan Bank Deepens Presence in Abuja with New Branch in Utako
Marking another milestone in its expansion drive, Alpha Morgan Bank has opened a new branch in Utako, Abuja, reinforcing its strategy of building closer institutional ties within key business communities and bringing its financial expertise closer to individuals, and enterprises driving the city’s growth.
The new branch, located at Plot 1121 Obafemi Awolowo Way, Utako, Abuja is strategically positioned to serve individuals, entrepreneurs, and corporate clients within Utako and surrounding districts.
The expansion follows the Bank’s recently concluded Economic Review Webinar held in February 2026, as the bank continues to position as a thought-leader in the financial services industry.
Speaking on the opening, Ade Buraimo, Managing Director of Alpha Morgan Bank, said the move underscores the Bank’s commitment to accessibility and service excellence.
“Proximity matters in banking. As communities grow and commercial activity expands, financial institutions also evolve to meet customers where they are. The Utako Branch allows us to deliver our services to people in that community efficiently while maintaining the high standards our customers expect,”
The Utako location will provide a full suite of retail and corporate banking services, including account opening, deposits, transfers, business banking solutions, and financial advisory support.
Customers and members of the public are invited to visit the new Utako Branch to experience the Bank’s approach to satisfying banking.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
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