Former Managing Director/Chief Executive Officer of Polaris Bank PLC, Mr. Tokunbo Abiru has said the former Skye Bank has now been re-positioned and put on the path of profitability.
He also said the federal government could divest its stake and allow the private sector to run it.
Abiru, is the senatorial candidate of the All Progressives Congress (APC) in the forthcoming Lagos East Senatorial election.
At an interactive session, Abiru said the mandate given to him by the CBN had been accomplished and he felt it was appropriate for him to quit.
“The mandate that was given to me has also been accomplished which was to put the bank on the path of profitability; cure the credential ratios. At that time I was convinced in my mind that it was time for me to retire,” he said.
Abiru stated that the next thing is for the government to divest from the bank. “The bank is on the right trajectory now as we speak. It is for the owner, which is the CBN, to continue the journey to divest its stake.
“The bank is doing okay, everything is fine but the ownership of the bank cannot continue to be that of the government and rightly so because the industry where the bank operates is a very competitive industry.”
