Polaris Bank CEO, Tokunbo Abiru Set To Resign Over Lagos East Senatorial Seat Ambition

Ahead of Lagos east senatorial bye-elections, Tokunbo Abiru, Man­aging Director/ Chief Executive Of­ficer (CEO), Polaris Bank, is set to resign his ap­pointment this week, Newsacross.com credible source has exclusively gathered.

Abiru, a former Commis­sioner for Finance in the state during Governor Baba­tunde Fashola’s second term, is also expected to announce his entrance into the race for Lagos East Senatorial Dis­trict bye-election which the Independent National Elec­toral Commission (INEC) has fixed for Saturday October 31, 2020.

A member of the Gover­nors Advisory Council (GAC) in Lagos said Abiru, who has been nominated by the Lagos State chapter of the All Pro­gressives Congress (APC) as a replacement for the late Senator Bayo Osinowo, who represented Lagos East Sena­torial District until his death in June, will pick up the expression of interest and nomination forms during the week.

He also said the party has already set up the campaign committee of Abiru which will be formally announced to the public after he has picked and submitted his forms.

The campaign committee is headed by a former mem­ber of the Lagos State House of Assembly from Epe divi­sion.

Although a credible source in the bank said Abiru, had already made his intention to resign known to the board pending an approval from Godwin Emefiele, the Cen­tral Bank governor, another source in the bank who asked not to be named said it is not true that Abiru has resigned. He, however, remained silent on his senatorial ambition.

Efforts made to confirm the report from Rasheed Bolarinwa, the bank’s Head, Corporate Communications, proved abortive as he could not be reached.

However, Abiru in a state­ment denied the report, saying that while he holds the public service in high esteem, his time and energy at this time was primarily devoted towards building a world-class financial brand that will serve the interest of all stakeholders of the bank.

He further restated that he is working assiduously with his team to consolidate the bank’s stellar performance which resulted in a profit be­fore tax (PBT) of N27.8 billion in the 2019 financial year, be­ing its first year of operation.

Abiru acknowledged that having served as a former commissioner under the then leadership of Baba­tunde Fashola (SAN), it is not unexpected that such ru­mours and sentiments could sometimes spring up in some quarters.

He also advised the staff and customers of Polaris Bank as well as regulators, local and international stake­holders to disregard such sto­ries expressing his commit­ment to his current mandate in Polaris Bank.

In a related development, senatorial aspirants jostling for tickets of the APC in the forthcoming legislative bye-elections are to pick ex­pression of interest and nom­ination forms for N7 million each.

House of Assembly aspi­rants are to procure same forms for N850, 000 each while female and physically challenged aspirants are to pay 50 percent of the pre­scribed fees for each position.

These details were con­tained in APC’s time-table and schedule of activities for conduct of the 2020 con­current legislative bye-elec­tions across eight states at the weekend by the Director of Organisation, Professor Med­aner Ussiju Al-Mustapha in Abuja.

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