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.
FirstBank Introduces Exclusive 500-Seater Bleacher at Carnival Calabar & Festival 2025
Lagos, 26 December 2025 – FirstBank, West Africa’s premier financial institution and financial inclusion services provider, has officially announced its sponsorship of the Carnival Calabar & Festival 2025, unveiling a landmark addition set to redefine the carnival experience — the first-ever private premium seating area at the event.
The highlight of FirstBank’s participation is the construction of a 500-seater premium bleacher, designed to provide comfort, safety, and an elevated viewing experience for carnival enthusiasts.
Speaking on the sponsorship, the Acting Group Head Marketing and Corporate Communications, FirstBank, Olayinka Ijabiyi, noted that the carnival aligns with the Bank’s First@Arts initiative, a platform dedicated to supporting the creative arts value chain across Nigeria. He said, “We recognise the transformative power of the arts, including carnivals, in inspiring people and strengthening national unity. For more than 131 years, we have supported platforms that promote self-expression, social reflection and cultural exchange. Our investment in the Carnival Calabar & Festival demonstrates our commitment to preserving the nation’s rich cultural heritage through First@Arts.”
“As part of our sponsorship this year, we are introducing the first-ever private 500-seater premium bleacher to further elevate the carnival experience. This exclusive seating is designed to provide exceptional comfort and an unforgettable viewing experience for attendees,” Ijabiyi added.
The Chairman of the Cross River State Carnival Calabar Commission, Gabe Onah, also commented on FirstBank’s sponsorship. “FirstBank’s involvement is a strong demonstration of private-sector support for culture and tourism. This partnership not only enhances the overall quality of the carnival but also strengthens its global appeal,” he said.
The Carnival Calabar & Festival 2025 is officially marketed by Okhma Global Limited, the appointed Official Marketer responsible for brand partnerships, promotional engagements, and ticket sales. Okhma Global Limited has partnered with the Cross River State government in delivering Carnival Calabar & Festival for over ten years, playing a key role in strengthening the carnival’s commercial growth and global visibility.
Alpha Morgan Bank Backs Cultural Preservation at the 2025 Iganmode Festival
Alpha Morgan Bank has reaffirmed its commitment to cultural preservation and community development as one of the major sponsors of the recently concluded Iganmode Cultural Festival (Odun Omo Iganmode) held in Sango-Ota, Ogun State.
The annual festival, a landmark cultural celebration in the ancient town of Ota, showcased the rich heritage, history, and identity of the Awori people. The event came alive with vibrant displays of traditional music, dance, colourful regalia, and performances that reflected the deep-rooted customs and values of the community.
Alpha Morgan Bank’s sponsorship followed closely on the heels of the recent launch of its Sango-Ota branch, further underscoring the Bank’s dedication to supporting local initiatives, promoting indigenous culture, and fostering sustainable community development in Ota and its environs.
The ceremony attracted an impressive array of dignitaries, including former President of Nigeria, His Excellency Chief Olusegun Obasanjo; Deputy Governor of Ogun State, Engr. (Mrs.) Noimot Salako-Oyedele; and the Olota of Ota, His Majesty, Prof. Adeyemi Obalanlege, alongside several other traditional rulers and members of royal households from across the state. Their presence highlighted the cultural and historical significance of the festival to Ogun State and the wider Yoruba nation.
Alpha Morgan Bank’s participation as a major sponsor reflects its broader corporate vision of strengthening community values and supporting initiatives that promote Nigeria’s rich cultural heritage. The Bank joined thousands of attendees in celebrating a festival that continues to serve as a symbol of unity, pride, and cultural continuity for the people of Ota.
The 2025 edition of the Iganmode Festival was widely acclaimed as a success, leaving guests and participants with lasting impressions of a colourful, well-coordinated celebration that honoured tradition while fostering communal harmony.
*12 Days of Christmas with 5 for 5 Rewards: Celebrating the Season the Wema Way*
December is a season built on gratitude, reflection, and giving. It is a time when small gestures carry deeper meaning and everyday moments turn into shared joy. At Wema Bank, this spirit of the season has inspired the launch of 12 Days of Christmas with 5 for 5 Rewards, a festive campaign created to celebrate customers who continue to make the Bank part of their daily lives.
Running from December 14 to December 25, 2025, the campaign is designed to reward simple, everyday banking while spreading cheer across homes and communities. For twelve days, 33 customers will be rewarded daily with five thousand naira each when they fund their accounts with five thousand naira.
The idea behind the campaign is simple in action but thoughtful in intent. It recognises that during the festive period, every extra support counts. Whether it is preparing for family gatherings, running errands, or planning end-of-year activities, Wema Bank is turning routine transactions into moments of delight.
To take part in the 12 Days of Christmas with 5 for 5 Rewards, customers only need to fund their accounts with five thousand naira through any of the following channels:
ALAT app
*945#
Debit cards
Once the account is funded with five thousand naira, they get an additional five thousand naira as a reward.
Beyond the rewards, the 12 Days of Christmas with 5 for 5 Rewards reflects Wema Bank’s broader commitment to customer-centric banking. It reinforces the Bank’s focus on creating experiences that go beyond transactions, especially during moments that matter most to customers.
As the year draws to a close, Wema Bank is inviting customers to enjoy the festive season knowing that their loyalty is valued and celebrated. With every transaction, the Bank continues to find new ways to connect, appreciate, and give back during a season defined by generosity.
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