Polaris Bank Not In Receivership!..Why Branches Are Shut

Eniola Ajayi

Details available to societynow.ng revealed that Polaris Bank is not in receivership.
And the branches are shut down in line with the “order of the President” in the fight against highly infectious disease Covid-19 also known as Coronavirus.

Societynow.ng confirmed that Polaris Bank’s alternative channels for banking are active.

“Temporary closure of branches nationwide in respect of the order of the President and making alternative channels active for all banking” a source stated.

“A bridge Bank and an enterprise with almost a trillion naira capital base definitely can’t be in receivership!” a source who should know asserted.

Societynow.ng’s checks revealed that the assertion of “a trillion naira capital base” postures Polaris Bank as more healthy than most of the “liquid Banks” in the industry with the cleanest book.

The 2019 financial result, when it is released, will tell the true story an insider stated.