POLARIS BANK: A NEW FRAUD AND WHAT GODWIN EMEFIELE DIDN’T TELL NIGERIANS. By Yemi Saka.

Godwin Emegiele.
CBN Governor.

 When the news broke yesterday, all i did was to log on to CAC (Corporate Affairs Commission) and search for Polaris Bank, the search yielded nothing.

I saw a post by a friend and I was shocked to see that registration is being processed. I also saw an unsigned CAC certificate of incorporation. 

It's obvious registration began by 7pm yesterday at CAC. This doesn't tally with the claim that Polaris Bank had long being issued an operating license long before now. Why will CBN issue an operating license to an unregistered Bank?

The sale hasn't been revoked, which means Skye Bank is the custodian of the SAT- 

Let me now tell you something you guys are so unaware of.

In 2015, I raised objection to the dubious sale of NITEL to Skye Bank by the government of Goodluck Jonathan.

The registration details of Polaris Bank.

This means Skye Bank is the rightful owner of Nigeria's almost 10% stake in the SAT-3 project through its ownership of Nitel.

                 

So the hurried takeover of Skye Bank might just be connected to hostile takeover of Nitel and this is coming weeks after Ntel is reportedly back to life.

Unassigned on the site yet.

Now that they have the control of the bank which controls the backbone infrastructure for ICT, (SAT-3) they have everything under control to have books justify $380m loan for ICT from China.

It's also the new investors’ backdoor access into Nigeria's telecommunication sector.