The Asset Management Corporation of Nigeria (AMCON) says Polaris Bank will be put up for sale after the 2019 elections.
According to Reuters, this was disclosed by Jude Nwauzor, the AMCON spokesman, on Tuesday.
Speaking on plans for the sale of the bank, Nwauzor said: “The election season has slowed down things. We would advertise for expressions of interest from investors after elections and commence the sale process”.
In September 2018, Godwin Emefiele, Governor of the Central Bank of Nigeria, had announced the revoking of the licence of defunct Skye Bank. Polaris was established as a bridge bank to assume the assets and liabilities of the bank.