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Reps Committee says sale of Polaris Bank followed due process
Mr Henry Nwawuba, Chairman of, the House of Representatives Ad hoc Committee investigating the sale of Polaris Bank, on Thursday, said the ongoing sale of the bank followed the dues process.
The lawmaker said this at a news conference at the National Assembly in Abuja.
He allayed investors’ fears about the status of the financial institution, adding that there was evidence of substantial compliance with the process.
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According to him, out of the 35 companies invited to bid for the bank, the regulatory agency shortlisted the bidders to 15 and later seven and afterwards got Presidential approval to proceed with the sale of the bank.
“Before we broke up from plenary sessions to work on the budget, there was a motion on the floor asking the CBN to suspend the sale of Polaris Bank, I happened to have emerged to Chairman of the committee.
“The Committee has started work and we have looked at the documents and that is the beauty of investigation in Parliament.
”The beauty is that regardless of what comes on the floor, it is only when we started looking at the documents before us that we start getting a clearer picture,” he said.
He said the committee had so far found evidence of substantial compliance in the process of selling the bank, adding that about 35 companies were invited to bid and it went down to 15 and finally to 7.
He said the recommendation was made and a presidential approval given, adding that the committee was happy with the process and intended to conclude the investigation and lay the report before the resumption of plenary.
According to him, so far, everything looks good and there is no cause for concern, adding that for the stability of the financial systems in Nigeria, the committee called on Nigerians to know there was nothing wrong with Polaris Bank.
“What the House is looking at is the process of the acquisition or the sale and so far, we are confident from what we are seeing.”
He said until the investigation was concluded, he would not be able to speak authoritatively on the matter but added that from what the committee could see, there seemed to be substantial compliance.
According to him, Nigerians are enjoined to continue to relax and leave their deposits with the bank and continue their business with the bank.
“We feel that as a responsible House, we would look at the process and that is how we oversight the sector and that is what we are looking at.
President Bola Tinubu has commiserated with Gov. Seyi Makinde, his family and the people of Oyo State, over the death of his elder brother, Sunday Makinde.
The president, in a condolence message issued on Monday, said that the loss of a loved one, especially a cherished elder brother, is a profound sorrow.
“In this time of mourning, I want you to know that I, along with many others, stand with you and your family.
“We pray for strength and comfort as you navigate this irreplaceable loss. I hope you find comfort in the memories you shared and the impact he had on those around him.
“This moment reminds us of the importance of family, unity and love—values that your family has always exemplified and that we all hold dear.
“May these values strengthen you and your loved ones in this time of grief,” he said.
Tinubu prayed for the peaceful repose of the deceased’s soul and for the Almighty to grant the governor and his family the strength to navigate this challenging time.
“Please know that my thoughts and prayers are with you and that you are not alone in this period.
“You can count on my unwavering support and assistance during this difficult time,” the president said.
The Federal Government, through the Federal Civil Service Commission, has announced the commencement of recruitment into various positions within the Federal Civil Service.
In a statement on Monday by the FCSC’s Head of Press and Public Relations, Taiwo Hassan, he disclosed that interested and eligible Nigerians can apply for the available positions through the commission’s official recruitment portal.
He stated that applicants are to apply for only one position.
The statement read, “The Federal Civil Service Commission is receiving applications for various vacancies in the Federal Civil Service. The vacancy announcement is published on the commission’s website: www.fedcivilservice.gov.ng and in national newspapers.
“Eligible applicants are to apply for only one position via the application link: https://recruitment.fedcivilservice.gov.ng. Applicants who are physically challenged should state the nature of their disability.
“Applicants are to upload the following documents as applicable: I) Curriculum Vitae, II) Ph.D/Master’s Degree Certificate, III) Degree/HND/NCE Certificate, IV) WAEC/NECO/NABTEB Certificate, V) Primary School Certificate, VI) NYSC discharge/exemption/exclusion certificate, VII) Birth Certificate/Declaration of Age, VIII) Local Government Identification, IX) Recent Passport photograph.
“All applications are to be submitted on or before Monday, 10th March, 2025.”
The Nigerian Navy, Forward Operating Base, Ibaka in Mbo Local Government Area, Akwa Ibom, has apprehended two persons over alleged theft of 2,100 liters of premium motor spirit.
The Commanding Officer, Capt. Aliyu Abdullahi disclosed this while handing over the suspects and items to the Nigeria Security and Civil Defence Corps, (NSCDC) in Ibaka on Monday.
Abdullahi said that navy personnel apprehended the suspects at about 7.45p.m on Jan. 24, while on a routine patrol along the Mbo River area.
He said that during the patrol, naval personnel intercepted a wooden boat carrying over 2,100 Liters of petrol, carefully concealed under cargos such as bread, fruits and bags of cassava flakes among others.
He said that the intention of the suspects was to smuggle the product from Nigeria into the Republic of Cameroun.
The commanding officer said that under the watch of the Chief of Naval Staff, Vice Adm. Emmanuel Ogalla, the FOB IBAKA would remain committed to fighting waterway crime.
Abdullahi said it would be impossible for maritime crimes to continue in the waterways and coastal areas of Akwa Ibom.
“We shall continue to detect criminals and their activities within the nation’s waterways through the use of advanced surveillance equipment and intelligence.
“Individuals or groups involved in smuggling or any form of criminal activity within Nigeria’s waters should desist immediately,” he said.
Receiving the suspects and Items, ASC Willie Emediong, said that the NSCDC would prosecute the suspects after thorough investigations on the matter.
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