THE Central Bank of Nigeria (CBN) and the Asset Management Company of Nigeria (AMCON) have formally announced the completion of a Share Purchase Agreement (SPA) for the acquisition of 100 per cent of the equity in Polaris Bank by Strategic Capital Investment Limited (‘SCIL’).
This is even as the House of Representatives on Wednesday okayed the sale of the bank, noting that the acquisition followed the laid down procedure and the relevant presidential approval.
A statement issued by the Director, Corporate Communications Department at the Central Bank of Nigeria (CBN), Osita Nwanisobi, on behalf of the CBN and AMCON disclosed that SCIL had paid an upfront consideration of…
Source: Nigerian Tribune
