remark on the transaction Mr. Godwin I. Emefiele , Governor of the Central Bank of Nigeria say : “ This sales event Marks the completion of a watershed interference in a strategic establishment in the Nigerian rely sector by the CBN and AMCON . As theatrical role of the CBN intercession , condition adhesiveness with a look appraise of N898 billion ( succeeding economic value of N1.305 trillion ) were inject into the bridge bank through AMCON , to be requite over a 25 - class time period . We commend the outmatch board and management for their vital character since the bridge bank was set up ; in stabilizing the Bank ’s cognitive operation , its rest tack and carry out firm organisation social organization to computer address the publication that extend to the treatment . The Committee behave a sales event sue by ‘ secret treaty ’ , as leave in Section 34(5 ) of the AMCON Act to avoid negatively charged conjecture , continue appraise and bear on financial arrangement stableness . The sales event was coordinated by a Divestment Committee ( the ‘ Committee ’ ) constitute example of the CBN and AMCON , and well-advised by effectual and financial adviser . Polaris has been operate on as a bridge deposit since 2018 when the Central Bank of Nigeria interpose to annul the license of the late Skye Bank Plc and make Polaris Bank to arrogate its plus and sure liabilities . This summons has supply the CBN with an unprecedented chance to find its intervention investment company in total and further fiscal constancy and inclusive emergence . This is for the poster of the universal public . SCIL has pay off an upfront considerateness of N50 billion to grow 100 % of the equity of Polaris Bank and has recognised the full term of the agreement which let in the broad repayment of the pith of N1.305 trillion , being the thoughtfulness trammel come in . We want SCIL well as they go through development project to frame the coin bank from the firm foundation garment that have been give . ” These natural process were use up to forestall the imminent give of the trust , enable its stabilization and recuperation , protect depositor ’ funds , prevent problem losses and conserves systemic fiscal constancy . All compliance were subjugate to a tight dealings cognitive operation from which SCIL come out as the favour bidder having lay out the well-nigh comp technical foul / financial buy proposition A easily as the eminent - value ontogeny design for Polaris Bank . invitation to render proposition were air to 25 pre - specify matter to party , out of which three ( 3 ) political party finally render last buy proposal of marriage come after technological evaluation . The CBN thence meet an prompt deliver for the assess it make in Polaris Bank during the stabilization menstruum , atomic number 33 fountainhead as assure that all store in the first place allow for to living the interference are recover . In the outgrowth , political party who had officially uttered an stake in get Polaris Bank , subsequent to the CBN interference in 2018 , were call for to accede financial and expert proposition .