Nigeria: Profile – Omokayode Lawal, Polaris Financial institution’s New MD/CEO

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Mr Lawal served because the Managing Director/Chief Govt Officer of Fractional Funding Providers Restricted, an actual property firm in Nigeria.

Following the dissolution of the boards and administration of three banks – Polaris, Union and Keystone – Omokayode Lawal was appointed as Polaris Financial institution’s new managing director/chief government officer.

The transfer adopted the suggestions of Jim Obazee, a particular investigator appointed to look into the affairs of CBN by President Bola Tinubu in July 2023.

Mr Obazee’s mandate was to research the operations of the CBN and different related establishments.

In its announcement on Wednesday, the CBN accused the banks of assorted violations, together with regulatory non-compliance and company governance failures.

The central financial institution justified the motion by citing the banks’ failure to stick to the provisions outlined in Part 12(c), (f), (g), and (h) of the Banks and Different Monetary Establishments Act, 2020, stating that the infractions ranged from regulatory non-compliance to company governance lapses and interesting in actions jeopardizing monetary stability.

Mr Lawal thereafter emerged the managing director of Polaris Financial institution.

Profile

Previous to his present appointment, Mr Lawal served because the Managing Director/Chief Govt Officer of Fractional Funding Providers Restricted, an actual property firm in Nigeria.

He beforehand held the place of Govt Director of Company and Funding Banking at Sterling Financial institution Plc earlier than establishing Intermediate Fairness Companions Restricted.

With over 30 years of expertise within the banking trade, he brings priceless insights into key sectors akin to oil and fuel, telecommunications, manufacturing, and different infrastructural tasks.

He holds the designation of a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and is a member of the Chartered Institute of Taxation of Nigeria (CITN) and the Chartered Institute of Bankers of Nigeria (CIBN).

Mr Lawal is an alumnus of the Lagos Enterprise College, the Columbia College Graduate College of Enterprise, and the College of Oxford.



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