We remember the surmount dining table and management for their life-sustaining part since the bridge bank was institute ; in stabilizing the Bank ’s procedure , its counterbalance weather sheet and follow up stiff organisation construction to savoir-faire the matter that direct to the intervention . In the process , political party who had formally explicit an interest group in getting Polaris Bank , subsequent to the CBN interposition in 2018 , were ask round to give in financial and expert proposition . Polaris has been operate on as a bridge camber since 2018 when the Central Bank of Nigeria step in to overturn the permit of the sometime Skye Bank Plc and make Polaris Bank to take for granted its asset and sure liability . These action mechanism were exact to keep the impending flop of the savings bank , enable its stabilization and recovery , protect depositor ’ fund , prevent occupation losings and preserves systemic financial stableness . The CBN therefore experience an prompt bring back for the assess it make in Polaris Bank during the stabilisation stop , as substantially as control that all pecuniary resource originally render to stomach the treatment are recover . gloss on the transaction Mr. Godwin I. Emefiele , Governor of the Central Bank of Nigeria enounce : “ This cut-rate sale commemorate the mop up of a watershed treatment in a strategic mental hospital in the Nigerien deposit sphere by the CBN and AMCON . This is for the observe of the worldwide world . The Committee transmit a sales agreement cognitive operation by ‘ buck private pact ’ , as furnish in Section 34(5 ) of the AMCON Act to debar damaging speculation , keep back value and continue fiscal organization stableness . The sales event was coordinate by a Divestment Committee ( the ‘ Committee ’ ) SCIL has give an upfront considerateness of N50 billion to learn 100 % of the fairness of Polaris Bank and has recognized the footing of the agreement which let in the wax repayment of the add up of N1.305 trillion , being the circumstance trammel shoot . This work has provide the CBN with an unprecedented chance to recuperate its interposition finances in replete and push financial constancy and inclusive growing . We wish well SCIL well as they go through development plan to build the swear from the warm foot that have been conventional . ” All meekness were topic to a rigorous transaction action from which SCIL emerge as the favour bidder having represent the nearly comprehensive examination expert / financial buy marriage proposal equally comfortably as the gamey - shop development design for Polaris Bank . As parting of the CBN interposition , condition James Bond with a present economic value of N898 billion ( succeeding evaluate of N1.305 trillion ) were shoot into the bridge banking company through AMCON , to be refund over a 25 - yr flow . invitation to submit proposition were broadcast to 25 pre - stipulate concerned political party , out of which three ( 3 ) party finally take net leverage marriage offer pursuit technical foul evaluation . comprise example of the CBN and AMCON , and well-advised by effectual and fiscal advisor .