The bank said that no other party made a higher purchase offer as alleged in a publication.
on Wednesday said the divestment from Polaris Bank was an institutional decision that was thoroughly supervised.to Strategic Capital Investment Limited , four years after the government took over Skye Bank. The bank was later renamed and over N1 trillion was subsequently injected into the bank.
In a statement signed on Wednesday by the spokesperson of the CBN, Osita Nwanisobi, the apex bank said it felt the need to clear the air on the divestment process following a “spurious, malicious, and misleading” online publication. “Notwithstanding, along with twenty-four other parties, Fairview Acquisition Partners was invited by the financial advisors to participate in the sale process via the execution of a Non-Disclosure Agreement , the first stage of the process.
CBN said the divestment was executed based on the relevant laws, global best practices for bank resolutions, and requisite regulatory approvals. “In addition to passing all fitness and propriety tests, the promoters also made the highest financial offer for the bank, which was significantly above its core valuation and reserve price,” the bank said.
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