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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). On August 24, 2020, Abiru resigned from Polaris Bank to contest the Lagos East senatorial election under the platform of All Progressives Congress.
Career
He rose to the position of executive director at First Bank Nigeria Ltd (2013–16) and was also the Honourable Commissioner of Finance, Lagos State, between 2011 and 2013 under the dynamic and transformational leadership of Babatunde R. Fashola (SAN) as Governor. Abiru achieved some feats when he was the Commissioner of Finance. For instance, he successfully floated N80 billion bonds, earning it the EMEA Finance’s Best Local Currency Bond Award for 2012. Also, he discovered over 5.5 million tax evaders in 2013. His effort also led to an increase in revenue generation from land use charges in the state. He was appointed in July 2016 by the Central Bank of Nigeria (CBN), as group managing director to lead the turnaround of the regulator-induced takeover of the then troubled Skye Bank, in a bid to preserve the stability of the overall Nigerian Financial System. The successful completion of the assignment gave birth to today’s Polaris Bank Limited.Sign up to the Connect Nigeria daily newsletter
Tokunbo has also served in various boards, including Airtel Mobile Networks Limited; FBN Capital Limited (now FBN Quest Merchant Bank Limited); FBN Bank Sierra –Leone Limited; and Nigeria Inter-Bank Settlement System Plc (NIBSS). During this pandemic Covid-19, he has as donated 150,000 face masks to primary schools in his zone.
Public Sector
During Abiru’s time as Commissioner for Finance in Lagos State, the State floated an N80 billion bond, earning it the EMEA Finance’s Best Local Currency Bond Award for 2012. He opened up discussions on taxation in Lagos State after the discovery of over 5.5 million tax evaders in 2013. His efforts also led to increased Land Use Charge revenue generations to the tune of N6.2bn. Abiru is also a member of the Lagos HOMs Committee, which is in charge of the Lagos State Home Ownership Mortgage Scheme (HOMs) instituted to reduce the housing deficit in the State. He was elected as the senator of Lagos East Senatorial district in a by-election on December 5, 2020.A Bit Of Polaris Bank
Polaris Bank is a commercial bank established on September 21, 2018, by the Central Bank of Nigeria (CBN). It began after taking over assets and liabilities of Skye bank whose operating license was revoked by CBN. Polaris Bank serves businesses both large and small corporations in the public and private sector. And, it operates as a financial services provider in Nigeria and West African countries. Polaris Bank offers services in retail banking, commercial banking, corporate banking, investment banking. The bank also engages in international operations, trade services, and treasury. With the aim of becoming the most preferred partner providing superior financial solutions for customers, Polaris has over 350 branches across the country. Sources: Entrepreneurs NG Wikipedia Featured Image Source: This Day LiveGot a suggestion? Contact us:Â editor@connectnigeria.com
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