Polaris Bank appoints two new executive directors

Polaris Bank, one of Nigeria’s leading banks has announced the appointment of two new members of its executive leadership team.

Chinwe Iloghalu joins the Bank as Executive Director, Lagos and Corporate Banking and Martins Izuogbe joins the Bank as Executive Director, Service and Technology.  

According to the bank, these appointments are an important landmark in the delivery of its refreshed strategy, which is focused on technology and service as critical pillars for growth and is already delivering results, with deposit growth, an expanded product suite and service efficiencies that have all contributed to improved performance.

It also said that the new management team is focused on positioning the Bank to compete strongly in Nigeria’s dynamic financial services ecosystem and further appointments will be made into an expanded leadership team over time.  

Commenting on the appointments, the MD/CEO of Polaris Bank, Adekunle Sonola said: “I am very pleased to welcome Chinwe and Martins to the executive leadership team at an exciting time for Polaris Bank. Both have extensive experience in the Nigerian banking sector, and strong track records in corporate banking, innovation and technology, which are integral to our strategy. We have set out some ambitious targets for growth over the coming years, and I am confident we have brought together the right management team to deliver those targets. I look forward to working with Chinwe and Martins over the coming months and years.”  

Chinwe Iloghalu, the ED, Lagos and Corporate Banking, according to a statement from the bank, is a seasoned banker with more than 25 years’ experience in financial services. Prior to her appointment, she was the General Manager/Regional Head at Fidelity Bank covering the Lagos operations with extensive experience across the digital and electronic banking ecosystem.  

On his part, Martins Izuogbe, ED Service and Technology, has 25 years’ experience in the banking sector, all with Fidelity Bank where he served as the Regional Bank Head for Apapa prior to his appointment. He has spent a significant part of his career in operations and IT leadership roles, and brings that knowledge to his role leading Polaris Bank’s service and technology function.  

The bank further stated that following the appointments, Segun Opeke (ED Lagos and Corporate Banking) and Abdullahi Mohammed (ED North) will complete their tenures on the management team.

Both executives, the bank said,  played vital roles during the stabilisation of Polaris Bank following the transition from Skye Bank, helping to return the Bank to profitability.

Commenting on their contributions to the transition, Adekunle Sonola said: “I would like to offer my thanks to Segun and Abdullahi for their help, support and guidance over the last six months. Following the acquisition of Polaris Bank by SCIL, they have been integral to the transition process, supporting the new board and CEO to build on the strong foundations they have established.”