Businessman & Son-In-Law To IBB
Lawan Auwal, Acquires Polaris Bank For 50Bn

The Central Bank of Nigeria revealed that the banking sector consists of 21 commercial banks.

These banks are owned by astute Nigerians who have made a name for themselves in various fields.

Lawan Auwal is the latest addition to the list, joining Elumelu and Jim Ovia after his company completed the acquisition of Polaris Bank.

Lawan Auwal has been revealed as the man behind Strategic Capital Investment Ltd. (SCIL), the company that bought Polaris bank from the Central Bank of Nigeria and Asset Management Corporation of Nigeria.

SCIL paid N50 billion to take over the bank and will pay an extra N1.3 trillion in the next 25 years.

Lawal Anwal, Polaris Bank’s new owner, is a smart Businessman and son-in-law of former Nigeria head of state, Babangida.

Legit.ng reported that SCIL agreed to pay for all the expenses incurred by the Nigerian government during the deal negotiation.

Who is Lawan Auwal Details obtained by Ripples Nigeria showed that Lawan Auwal Abdullahiis the man behind Strategic Capital Investment Limited. Corporate Affairs Commision information shows that SCIL is owned by Ponglomerape Limited, which has on its board directors, Lawan Auwal, Lawan Abdullahi, Lawan Shaibu, and Lawan Jamilu.

Ponglomerape Limited is into the agriculture business, civil engineering and real estate development. Lawan, who is Sarkin Sudan of Gombe is the son-in-law of Ibrahim Badamasi Babangida, former head of the state of Nigeria from 1985–1993. His wife, Halima, Babangida’s daughter, is his third wife, whom he married in 2017 amid great fanfare in two states, Niger and Gombe, with nine ceremonies held over four days, reportedly costing around N300 million, according to the societal lifestyle journal, Ecomium.

Lawan is also a respected businessman and philanthropist.

Some notable bank owners in Nigeria Zenith Bank- Jim Ovia UBA- Tony Elumelu Fidelity- Mustafa Chike-Obi GTB- Tajudeen Afolabi Adeola.

Source: legit.ng

Email: elora.akpotosevbe@yahoo.com