Board of Directors

The Bank’s Board of Directors is made up of eminent Nigerians of different professional callings and rich wealth of experience garnered in the various sectors of the economy. The various backgrounds of these tested and accomplished people have helped in articulating a clear strategic direction and focus for the Bank which account for the success recorded so far. The Board is led by Mr. Muhammad K. Ahmad. He strongly promotes building institutions based on the highest corporate governance and ethical standards.

The Bank is led by a management team of experienced professionals and accomplished leaders with diverse but complementary competences and skills. The team is ably led by Mr. Adetokunbo Mukhail Abiru, who is the Group Managing Director/Chief Executive Officer.

The experienced members of the management team provide supervision and leadership over the various divisions/groups in the Bank to help the CEO achieve the business objectives of the institution.


Muhammad K. Ahmad, OON - Chairman of the Board

Polaris Bank mkAhmad imageMuhammad K. Ahmad, OON, has about 35 years distinguished experience leading and working in various public sector organizations and financial services institutions in Nigeria.

He was the pioneer Director General and Chief Executive Officer of the National Pension Commission ensuring the establishment and growth of the Pension industry in Nigeria with over N5 trillion in assets. He is currently the Chairman of the Interim Management Board, International Energy Assurance and is the founder of Jewel Development Foundation, a graduate assistant platform; and Certium Consulting, a strategy advisory and business applications company.

A pioneer staff of the Nigeria Deposit Insurance Corporation (NDIC), he rose to become Director/Head of Department and a member of the Interim Management Board. Mr. Ahmad has served on the boards of various corporate and not-for-profit organisations as well as presidential committees. Ahmad Chairs the Technical Committee that produced the North East Transformation and reconstruction of the Region.

Alhaji Ahmad is also a member of the Presidential Committee for the North East Intervention (PCNI). Prior to his appointment, he was a Director on the board of FBN Holdings PLC, where he brought his rich experience in the financial services industry to bear on the institution. He strongly promotes building institutions based on the highest corporate governance and ethical standards and would bring his extensive experience to bear on his role on the board of Polaris Bank Limited as Chairman. He has a Masters Diploma in Innovation and Strategy from University of Oxford and has also attended courses and programs in various first-rate business and management courses and programmes in various first-rate business and management schools, including Harvard Business School, IMD and INSEAD.

A co-author of the book, “The Extent and Effectiveness of Bank Supervision in Nigeria’.

Adetokunbo Abiru, FCA- GMD / CEO

Adetokunbo Abiru, is an alumnus of Harvard Business School (Advanced Management Program) and Lagos Business School (Senior Management Program). He holds a B.Sc (Economics) from Lagos State University and is a Fellow of The Institute of Chartered Accountants of Nigeria (ICAN) and an Honorary Senior Member of The Chartered Institute of Bankers of Nigeria (CIBN).

Tokunbo has had a distinguished career in banking spanning about thirty (30) years, out of which  ten (10) years was spent in the formative years of Guaranty Trust Bank Plc.  He thereafter, spent about Fourteen (14) years with First Bank of Nigeria Limited, where he functioned as Executive Director, Corporate Banking between 2013 and 2016.

During his banking career, he was at various times between 2013-2016 a Non–Executive Director in the following companies: Airtel Mobile Networks Limited; FBN Capital Limited (now FBN Merchant Bank Limited); and FBN Bank Limited Sierra Leone.

Tokunbo was the Honorable Commissioner of Finance for Lagos State Government (2011-2013), the economic capital of Nigeria, during the dynamic and transformational leadership of Governor Babatunde R. Fashola (SAN).

He is happily married and blessed with children.

Innocent C. Ike- Executive Director

Polaris Bank Innocent Ike imageInnocent Ike has over twenty-eight (28) years of successful professional banking experience acquired from leading Nigerian banks, mainly Access Bank Plc., GTBank Plc., and Keystone Bank, where he played very strategic roles in these institutions.

He was an Executive Director with Keystone Bank and has also worked as a General Manager in Access Bank Plc. As Group Head, Corporate, Institutional and Commercial Banking Divisions, Innocent Ike successfully developed and managed several high profile relationships with financial institutions, corporate and public sector clients in Lagos, Abuja and South-South regions.

Prior to joining Access Bank Plc., he worked in erstwhile Fortune international Bank Plc., and GTBank Plc., where he played several key roles in Commercial Banking, Treasury and Currency Trading as well as Operations and Technology Divisions. He also had valuable experience in Corporate Finance and Risk Management.

He started his professional career as a Senior Associate with Akintola Williams Deloitte, Nigeria before joining GTBank. Whilst at the accounting firm, he worked in the Audit, Consulting and Financial Advisory Divisions and was responsible for handling several key assignments.

Innocent obtained a Bachelor of Science degree in Accounting from the University of Lagos, where he was the Best Graduating Student in 1988. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and Honorary Senior Member of the Chartered Institute of Bankers of Nigeria (CIBN).

He has attended several professional, management and leadership programs in world class institutions including Harvard Business School, International Management Development Institute (IMD) Switzerland, Euromoney London and Covey Leadership Centre.

Innocent is happily married with children.

Abdullahi S. Mohammed - Executive Director

Polaris bank Mohammed Sarki imageAbdullahi S. Mohammed was born in August 1958 in Kano, Kano State. He had his early education in Kano and Kaduna States before proceeding to the Bowling Green State University, Ohio USA for his Bachelor and Masters Degrees. He returned to Nigeria in 1987 to commence his career with Cement Company of Northern Nigeria Plc., Sokoto, where he served as a Staff Development and Training Senior Instructor. He subsequently joined Century Merchant Bank Limited in 1991 as an Officer and Head of Treasury Department of Kano Area Office. During his stint at Century Merchant Bank he was saddled with the responsibility of establishing the businesses operations in the Federal Capital Territory, Abuja.

Mr. Mohammed would later in 1995 move to Kakawa Discount House Ltd. as the Admin Manager and later in 1998 was moved to establish the Abuja Area Office where he served as the head overseeing the 19 northern states. In 1999, he took up appointment as the Commissioner for Works, Housing and Transport in Kano State and Member, Kano State Executive Council. He was also at various times, the relief commissioner in the Ministries of Health and Water Resources. He later returned to Kakawa Discount House Ltd. until 2003 when he joined First Bank of Nigeria Ltd. where he rose to become a Deputy General Manager in 2013.

He was at various times in First Bank responsible for the Bank’s Business Development in Benue, Kogi, Nasarawa, Niger, Kano, Jigawa States as well as FCT - Abuja. He was until his appointment the Group Head in Charge of Commercial Banking in the North overseeing commercial Banking Business in the whole Northern Nigeria.

He has attended courses both in Nigeria and Overseas including those at the London Business School and the prestigious INSEAD Program for Achieving Outstanding Performance in Singapore. Mr. Mohammed is also member of the 37th SMP of the Lagos Business School and Honorary Senior Member of CIBN.

He is an avid golf player and happily married with children

Olu Odugbemi FCA - Non-Executive Director

Olu Odugbemi FCA, FCTI. Agronomist, Economist, Auditor, Chartered Accountant, Ex banker and Financial consultant. Olu is an alumni of INSEAD Fontainebleau, France Strategic Management of Services and 1991 British Council ODASS Scholar. He holds B.Sc (First Class Hons, GPA 6.8/7.0), University of Ibadan; M.Sc (Distinction Hons, 1992) Imperial College, University of London and 1999 SAP FI/CO R3 Certification from SAP Academy Woodmead, Johannesburg. He is a Fellow, Institute of Chartered Accountants and Chartered Institute of Taxation of Nigeria.

His multidisciplinary educational background is complemented by over 25 years of cross functional business experience in Audit and management consulting, Treasury & FI Relationship management, Corporate Finance, Strategy, Retail and Corporate Banking garnered in Deloitte, Touche & International (formerly Akintola Williams & Co) and three top ranking Nigerian Banks namely Ecobank Plc., Citizens International Bank and UBA Plc.

Among others, he was involved in the design of Legal and Operational framework for Central Securities Clearing System (1994/97), participated in several landmark transactions such as the $1.0bn syndication for NLNG project trains 4 & 5, $160million syndicated Senior Secured Facility for Bonny Gas Transport, USD50million short term note issuance facility for two leading MNOCs and Syndication of $230m term facility for a leading IPP in Lagos working with three leading international financial institutions namely FMO, Afrexim and Banque Belgolaise in perhaps the most successful power transaction of that nature in the country to date.

At UBA Plc, he served at management level for nine years and was at various times Senior Manager, Strategy (1997), Head, Oil & Gas Upstream (1999), Sector Head, Power (2002), Sector Head, Mortgage Banking and Divisional Head, UBA Home Loans (2005). He worked with the Mckinsey team in Project Quest (2001) to craft UBA Corporate and Retail Strategy and played a central role as Strategy team member in the UBA/STB merger integration in April 2005. He disengaged from UBA Plc. effective February 2006 to pursue personal interest in Financial Consulting.

Olu is a consultant to several local and multinational companies in the financial sector space and is happily married with a daughter

Austin Jo-Madugu - Non-Executive Director

Austin Jo-Madugu, born 1952, is an alumnus of Ahmadu Bello University, Zaria, BSc, Sociology, First Class Honours 1976 and New York University, New York, MBA 1982.

He began his working life at the Centre for Management Development, Lagos in 1977 as a Management Trainee. His banking career started at Chase Merchant Bank in 1983 in Credit and Marketing.

He worked also at UBA and at the Bank of Industry from where he retired as General Manager, Operations in 2012. He has attended local and international executive training programmes at such institutions as INSEAD, France, Columbia University Business School, USA and the PDPCP in the Philippines.

He is from Kogi State and is happily married with children.

Alhaji Abdullah Umar - Non-Executive Director

Alhaji Abdullah Umar has over 45 years of work experience spanning different fields including the Insurance, Manufacturing and the Public Service.

He has obtained various qualifications from different institutions including the Kitson College Technology, Leeds, United Kingdom and the Ohio University, USA.

Alhaji Umar who is on the membership of various Boards across the country has established and continues to successfully run three indigenous companies.

Bata Garba Wakawa - Non-Executive Director

Bata Garba Wakawa has over 23 years of banking experience. He obtained a B.Sc. Hons degree in Business Administration from the prestigious Ahmadu Bello University, Zaria in 1982 and an MBA degree from Bayero University, Kano in March 1996.

His full time banking career started when he left Borno State Civil Service in 1984 for Central Bank of Nigeria on a senior supervisor grade until June 1986 when he joined UBA PLC.

He rose through the ranks whilst being responsible for Commercial Banking, Monitoring and Control (Risk Management), Inspection, Reconciliation and Control, Transaction banking, Branch Co-ordination and Control and Area Office Administration in Jos, Abuja and the 6 states of the North East geo-political region.

He voluntarily retired in November 2007 as Senior Branch Cluster Manager in charge of all branches in Borno and Yobe States.

Mr. Wakawa is from Borno State and happily married with children.