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Polaris Bank: Normalcy returns to branches in Abuja

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Normalcy seems to have returned to Polaris Bank (former Skye Bank) branches across Abuja as staff, clients and customers were seen going about their expected and normal banking operations without itches or delay.

It could be recalled that the now Polaris Bank was set up by the Central Bank of Nigeria (CBN) as a bridge bank to assume the assets and liabilities of the defunct Skye Bank under the strict supervision of the CBN, Asset Management Corporation of Nigeria (AMCON) and Nigeria Deposit Insurance Corporation (NDIC).

However, bank managers and customer service officers had a constant and more than normal flow of customers making inquiries, clarifications and assurances of the safety of their funds in the bank.

One of the banks customers, Mrs. Adeyemi, an octogenarian and a school owner, said she initially went to the bank with a resolve to withdraw or transfer all her funds to another bank.

Read Also: CBN revokes Skye Bank’s licence

According to her, “I came here to withdraw or transfer all my money in the bank because of the experiences I have had in the past with liquidated banks. When I heard the news about Skye Bank I almost had a heart attack; it was by God’s grace that I didn’t pass to the beyond.

“After speaking with the branch manager today, my confidence in the bank has been restored and my fears reduced; though not totally.”

Another customer of the bank who chose to remain anonymous, said he had a very long weekend as his mind was set on how to get out his money from the bank come Monday. He however said that his fears were assuaged after his encounter with the bank’s customer representative.

Another customer who came to open a current account said she was assured and adequately educated by the Customers’ service representative that the bank is not in any form of crisis and that her funds are safe and secured.

She however did not like the fact that the current account form given to her still had the Skye Bank logo; the customer service officer had to use her pen to strike out the name and wrote Polaris Bank at the top.

The NDIC, as Deposit Insurer, has over the weekend assured customers of the continued safety of their funds in furtherance of the regulatory authority’s resolve to proactively manage potential threats to financial system stability.

Also, employees of the defunct Skye Bank cum Polaris Bank are confident that the organization is back and better, and that they had already received their provisional employment letters as staff of the new bank. However, whether or not the legitimate fears and concern of the customers and shareholders is tenable will be a matter of time.

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