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We Are Positioning for Digital Leadership, Market Dominance – Polaris CEO, Sonola

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Leading digital financial institution, Polaris Bank, has assured customers, financial sector stakeholders, and regulators that the Bank passed its road to recovery years back.

Chief Executive Officer (CEO), of the financial institution, Adekunle Sonola, stated this in a recent interview, with PROSHAREs team of analysts, noting that the Bank is currently on the growth path leading to market dominance.

According to him, careful rethinking and re-strategizing corporate plans create the bedrock of competitive burst and business sustainability, both attributes that Polaris Bank has focused on in the last few years, working with professional bodies such as PwC, Ernst & Young (E&Y), and KPMG across several corporate verticals.

“The bank has travelled past the recovery road years back; it is currently on the growth road leading to market dominance.

“Adequate capitalization is a key measure of financial health, providing comfort to depositors and affording balance sheet and business growth. The bank is presently adequately capitalized, operating well above the 10% minimum requirement for National Banks. Nonetheless, we are concluding arrangements to inject Tier II capital into the Balance Sheet to support our growth aspirations. Our shareholders are ready and willing to inject Tier I capital into the books. Having instituted best-in-class risk management practices, and maintaining adequate capitalization to support our growth objectives is not one of the bank’s immediate challenges and will not be in the foreseeable future. The new owners are committed to providing necessary support towards building a strong and resilient financial position to underwrite transactional activities of the Bank for sustainable value creation,” Sonola assured.”

Confirming that the Bank now operates a two-prong ideology of controlling the funding cost and growing earning assets at economic pricing, the Polaris Bank boss noted that earning asset growth is something the Bank is driving at from both the investment and risk asset sides of the business.

“The Bank has consistently been growing its asset base year-on-year (Y-o-Y). The Bank’s recently developed strategic plan will guide the Bank to a position of being a major challenger of Tier 1 banks and be the leader among Tier II banks along all the key performance parameters. Furthermore, the bank’s focus is to be one of the most efficient deposit money institutions in the industry, delivering superior value to its stakeholders, our competition is not of size, but value creation.

“We have revamped our go-to-market structure, broadening our customer base, fine-tuning our product, and supporting service offerings, strengthening personnel sales capacities, and improving our loan onboarding processes. We are very confident our Net interest income and margin will witness considerable growth as our strategies mature.”

Clarifying that cost control is a critical part of the Bank’s tactical and strategic roadmap, Polaris Bank Managing Director said its short-term tactics come from its longer-term strategies, adding that at the tactical level, the Bank is strengthening digital deliveries, and upgrading the capabilities and offerings on Digital Bank, Vulte, for an even more intensive and intuitive experience across customer journeys.

Polaris Bank has also improved its digital play, as reflected in the improvement of technological interfaces that feed into the customer’s journey expectations and experiences.

“We intend to build a dominant digitally led retail franchise and continue to reshape the bank’s business processes and support technology to continuously improve enterprise agility. The key thing is to drive top-notch processes and build agility in customer responsiveness.

“The VULTE product is just one of our service offerings. Indeed, we are creating a digital service reality that is customer service-focused. The technology driving this will scale digital service delivery to enhance our customers’ product or service experiences as we front-load features that fit into their expectations and future possible journey outcomes. As financial service platforms get better and continue to be an enabler, a part of the fabric of our modern economy, we will be an integral part of the way people carry out their businesses and we will make their digital journeys an integrated friendly experience. One cannot talk too much about this, but the tea leaves are pointing to a fresh pathway to consumer banking satisfaction.”

Other areas of positive growth in the Bank include the creation of a more powerful customer service experience via improved staff productivity with the best of Polaris Bank staffers driving the process having gone through upskilling and retraining programmes. This ensures we are driving a productivity-sensitive framework that marries staff effort with measurable business contributions.

“We have zeroed in on offering superior customer experience as a competitive tool. The new world of competitiveness requires that corporations are agile and flexible, we are building this into the bank’s operational DNA. Our customer journey experiences have been deconstructed across demographics and the service propositions will soon grace banking halls in the next eighteen months at the latest.

“We plan for a stronger balance sheet, with higher loan quality, greater liquidity, larger capital, and resilience to absorb economic shocks. Our loan asset quality has improved significantly, thereby improving liquidity, earnings, and the bank’s capital. We are primed to improve our cost-to-income ratio (CIR), Capital Adequacy Ratio (CAR), and Cost-of-Risk ratio (CoR). In the recent past, we saw bumps in the risk area with CoR higher than we would like, but more recently risk quality has improved leading to lower CoR.”

With a focus on customer-centricity, risk management, cost optimization, and technological advancements, Polaris Bank is seen as positioning itself as a major player in the industry, offering superior customer experiences and driving financial performance.
The Bank has been decorated as Nigeria’s Digital Bank of the Year in two successive years; it aims to position itself as a dominant digitally-led retail franchise, delivering superior value to stakeholders.

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Michael Dell Overtakes Jeff Bezos As World’s Third Wealthiest Billionaire

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Michael Dell, on Tuesday, overtook Jeff Bezos in Forbes’ billionaire rankings, edging past the Amazon co-founder as shares of Dell Technologies reached an all-time high, extending a six-month rally.Dell’s estimated net worth rose $4.6 billion to reach $267.7 billion at market close Tuesday afternoon, making him the third-wealthiest person in the world for the first time ever.

Dell trails Alphabet co-founder Larry Page ($277.9 billion) and Tesla chief Elon Musk ($942 billion).

Shares of Dell Technologies rose 1.9% to close at an all-time high of $533.88 on Tuesday, and traded as high as $538.47 earlier in the day.

Bezos’ estimated net worth dropped $1.4 billion to $265.2 billion as Amazon shares fell 0.6%.

Dell’s net worth has more than doubled since last year as his company has benefited from booming demand for artificial intelligence hardware.

327%. That is how much Dell’s stock has rocketed since the start of the year, when shares were priced around the $128 mark. Michael Dell holds a roughly 40% stake in his company and has much of his fortune wrapped up in his private investment firm DFO Management, which invests in hotels and liquid corporate credit. Dell’s net worth has soared alongside his company’s earnings, allowing him to surpass Meta co-founder Mark Zuckerberg and Oracle co-founder Larry Ellison in recent months.

Dell Technologies is a week removed from its second-quarter earnings report in which it logged $47 billion in revenue, a 58% jump year-over-year, and adjusted earnings per share of $7.04, a threefold increase from the same period last year. The company’s AI server business logged a record $60.9 billion in orders and accounted for $16.4 billion in revenue. The growth, and what chief financial officer David Kennedy called “AI momentum,” resulted in Dell Technologies raising its full-year revenue guidance $25 billion to an anticipated $192 billion.

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NAOSNP President, Oki Samson Bags Police-Youth Advocate Award

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The Lagos State Police Command under the leadership of the Commissioner of Police, CP Fatai Tijani, on Thursday, honoured the President of the National Association of Online Security News Publishers (NAOSNP), Mayor Oki Olatunji Samson, as a Police-Youth Advocate for his contribution to youth engagement and advocacy, responsible security journalism and community safety.

The recognition came during the Command’s commemoration of International Youth Day 2026, themed “Different Contexts, Common Aspirations,” held at the Police Officers’ Wives Association (POWA) Secretariat, Oduduwa Street, Lagos.

The event also featured the launch of the National Campaign Against Political and Digital Thuggery and a Police-Youth Dialogue designed to build stronger partnerships between law enforcement and young Nigerians. The initiative, in line with the vision of Inspector-General of Police, IGP Olatunji Rilwan Disu, placed youth participation, responsible citizenship and peacebuilding at the centre of contemporary security discourse.

In his address at the event, the NAOSNP President, a respected security journalist, stressed that youth advocacy must move beyond rhetoric to deliberate investment in the values, opportunities and relationships that enable young people to become agents of stability. He argued that the youth should not be viewed simply as potential victims or perpetrators of insecurity, but as indispensable stakeholders in preventing it. According to him, the digital space has become an extension of society and therefore requires the same standards of responsibility expected in the physical world.

The NAOSNP President urged young Nigerians to recognise the power of their voices, particularly on social media, and deploy that influence constructively. “Your phone is powerful. Your social media account is powerful. Your voice is powerful. Please use that power to build, not destroy.” He further challenged young people to resist political manipulation, stressing that no temporary political reward could justify sacrificing one’s future.

“Do not allow anyone to use your future to settle their present disagreement.”

He advocated a culture in which political differences could be expressed without becoming personal hostility, urging youths to verify information before sharing it and to understand that digital actions can have real-world consequences.

The intervention resonated strongly with the message of the Commissioner of Police, Lagos State Command, CP Tijani Fatai, who warned young people against allowing politicians to exploit them for electoral violence as the country approaches another election cycle. Fatai said youths must look beyond immediate gratification and recognise the importance of preserving their future.
“Tomorrow is there for us. We should not think of today. We should always think of tomorrow. That tomorrow is more important than what we are today.”

The CP also delivered a particularly strong message against the recruitment of young Nigerians into political thuggery, noting that political actors rarely expose their own children to the dangers of electoral violence. “None of these politicians will use any of their children for electioneering, thuggery, violence or what have you.”

He urged youths to reject attempts to use them for ballot-box snatching, intimidation, destruction of property and other forms of electoral violence, while stressing that political participation remained a legitimate right when exercised responsibly.

The Commissioner equally identified the digital environment as an emerging frontier of security, urging young Nigerians to think carefully before posting, sharing or reacting to provocative content. His message was clear: political participation must never become political violence, whether offline or online.

In his goodwill message, Commander, 9 Brigade, Nigerian Army, Brigadier General Ayokunle Owolabi, described the campaign as timely and commended the Police for strengthening engagement with young Nigerians. Owolabi noted that the energy, creativity and resilience of young people remained indispensable to Nigeria’s peace, security and development. He emphasised that national security could no longer be regarded as the exclusive responsibility of security agencies, but required a whole-of-society approach in which young Nigerians become active partners. He particularly warned against the misuse of digital platforms and physical spaces for violence, intimidation, misinformation and destructive engagement, while calling for stronger trust and communication between young people and security institutions.

Also speaking, the Lagos State Coordinator of the Police Campaign Against Cultism and Other Vices (POCACOV), SP Olivia Amarachi Ugochukwu, urged young people to become the change they desire in their communities.
“Policing is everybody’s business. If you see something, say something.”

She also charged the media to ensure that only verified information was disseminated, noting that responsible information management was essential to preventing fear, confusion and conflict.

The well attended event attracted representatives of the Nigerian Army, Nigerian Air Force, Nigerian Navy, NDLEA, FRSC and NSCDC, alongside NYSC, POCACOV, PCRC, NYCN, NANS, NURTW, RTEAN, CRAN, NAOSNP, POWA and youths from Police Barracks across Lagos. The programme featured an extensive Police-Youth Dialogue on security, political participation, social media, cultism, thuggery and emerging threats.

The recognition of Mayor Oki Samson as Police-Youth Advocate therefore represented more than an individual honour. It underscored the growing importance of credible voices capable of connecting young people, the media and security institutions around a shared commitment to peace.

In a society where insecurity can be amplified by a rumour, a provocative post or a manipulated young mind, youth advocacy has become a frontline security intervention. The future of Nigeria cannot be secured merely by policing the streets; it must also be secured by winning the minds, trust and participation of its young people.

The challenge before advocates such as Mayor Oki Samson and institutions such as the Police is to ensure that the message does not end with an award or a commemorative event. It must travel into schools, communities, newsrooms, transport parks and digital spaces—until peace becomes not merely a campaign slogan, but a conscious choice made by a generation whose future is ultimately at stake.

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Malian Singer Salif Keita Pulls Out of South African Festival over Xenophobic Attacks

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Malian music legend, Salif Keïta, has cancelled upcoming commercial performances in South Africa, including an appearance at the Mangaung African Cultural Festival (Macufe), citing what he described as “xenophobic violence” against African migrants.

The decision comes as anti-migrant protests intensify in one of Africa’s most industrialised economies, prompting thousands of foreign nationals to return home and increasingly straining cultural ties across the continent.

Explaining his decision, Keïta said he could not “ignore the reports of xenophobic violence against our African brothers and sisters.”

“When I see migrants attacked, I do not see ‘politics’. I see people looking for work, safety, and dignity.”

The 77-year-old musician stressed that his decision was not a rejection of South Africans.

“To be clear — I am not closing the door on South Africa. I am closing the door on violence,” he said.

Often described as the “Golden Voice of Africa”, Keïta has spent more than five decades in music and remains one of the continent’s most recognisable artists.

The award-winning Malian singer has earned four Grammy nominations and won France’s Victoire de la Musique for World Music Album of the Year in 2010 for La Différence.

His ties to South Africa also stretch back decades, including a performance at the Nelson Mandela 70th Birthday Tribute concert at Wembley Stadium in 1988, an event closely linked to the international anti-apartheid movement.

In response to his withdrawal, the Free State’s culture department said it regretted the decision and stressed that Macufe was intended to celebrate African unity.

Keïta’s withdrawal comes against the backdrop of worsening tensions over migration in South Africa, which has long attracted workers from across the continent.

More than 160,000 foreigners have left South Africa through repatriation programmes since May, according to an AFP tally. They include citizens of Malawi, Zimbabwe, Zambia, Ghana and Nigeria.

This week, 173 Tanzanian nationals also returned home from Durban, one of the centres of recent anti-migrant demonstrations.

Anti-migrant groups accuse undocumented foreigners of putting pressure on jobs and public services and contributing to crime.

However, South African authorities have maintained that immigration laws must be enforced through legal channels and have acted against people accused of vigilantism and violence.

Increasingly, the tensions are also spilling into Africa’s entertainment industry.

In July, a planned Lagos concert by Grammy-winning South African singer Tyla disappeared from her A*POP World Tour schedule after boycott calls from some Nigerians over reported xenophobic attacks against African migrants in South Africa.

Although Tyla and her management did not publicly confirm that the backlash caused the change, the episode showed how migration tensions were beginning to affect cross-border cultural exchanges.

Keïta’s decision now brings the issue into sharper focus from the opposite direction, with one of West Africa’s most prominent musicians refusing to perform in South Africa over the treatment of fellow Africans.

As a result, the controversy has added a cultural dimension to a migration crisis already affecting labour flows, diplomacy and relations between African countries.

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