By Boluwatife Adedokun
On Thursday, the Central Bank of Nigeria (CBN) revealed that Polaris Bank had been sold out to Strategic Capital Investment Ltd. (SCIL) after being under government control for five years.
It was gathered that Polaris Bank was sold for N1.35 trillion to Strategic Capital Investment (SCIL), an organization registered under the Corporate Affairs Commission (CAC) on April 28, 2022.
The breakdown of the payment showed that Strategic Capital Investment Limited made a forthright payment of N50 billion, with the investment organization expected to adjust up N1.305 trillion for a vague time period.
The sum Polaris Bank was sold outperformed its last market valuation (when it was known as Skye Bank), which was N10.7 billion, before it was delisted from the Nigerian Stock Exchange (presently known as Nigerian Exchange Limited).
Thing is to know about, Auwal Lawn, owmere of Strategic Capital Investment (SCIL)
Past reports on the sales of Polaris Bank had been attributed to Lawan Auwal Abdullahi, and following the declaration on Thursday, it was gathered that Lawan Auwal is one of the top chiefs at Strategic Capital Investment Limited.
The firm is owned by Ponglomerape Limited, which has on its board; Lawan Auwal, Lawan Abdullahi, Lawan Shaibu, and Lawan Jamilu.
Lawan Auwal is a quiet businessman, who has been said to be a farmer, however, a nearer view into the administrations of his organizations, Ponglomerape Limited and Nice Corporate Services Limited, showed that he wears different crowns.
While his portfolio in Ponglomerape limited shows he leads a leading group of four chiefs, he fills in as Overseeing Chief at Nice Corporate Services Limited.
Beside his farming business , Lawan’s organization, Ponglomerape is into the matter of structural designing and land improvement, through side project firms, Ponglomerape Properties Investment Limited and Spring Estate.
Ponglomerape Limited was registered with the CAC on September 5, 2002, while Nice Corporate Services Limited was registered on May 13, 2004.
The wedding of Halima, the subsequent little girl and last born of previous military ruler, General Ibrahim Badamosi Babangida (rtd), in May 2017, that apparently kept around 30 personal luxury planes in participation – that was Lawan’s wedding.
Following the wedding, little was known about Lawan, besides the fact that he was the Sarkin Sudan of Gombe. The wedding, which was held in two states, Niger and Gombe, with nine services coordinated in four successive days, purportedly cost about N300 million according to cultural way of life diary, Encomium.
It was also gathered that Lawan paid N500,000 and gave 10 cows as dowry to wed Halima, who is the child of late Maryam Babangida. Lawan has three wives
Lawan’s father-in-law governed Nigeria as a military head between August 27, 1985 and August 27, 1993. He annulled the June 12, 1993 official decisions won by Bashorun Moshood Abiola.
