Business
Simple steps to Getting a Loan from Polaris Bank
Nigeria’s most trusted bank, Polaris Bank has unveiled simple steps for salary earners to access loans in order to meet their financial needs, like payment of school fees and house rent, buying a car, among others.
The bank said salary earners with bank account, can get multiple of their annual salary or 50 per cent of their monthly salary, credit card, auto loan, and mortgage.
The bank statement reads:
Polaris Salary account offers you convenience to get loans to meet your financial needs when you need it. You can get multiple of your annual salary; or 50% of your monthly salary; Credit Card; Auto loan and Mortgage.
You also enjoy:
Pre-approved personal loan: Get pre-approved personal loan tailored to your needs.
Instant loan disbursement: Experience instant loan disbursement, ensuring that you receive the funds you need promptly and efficiently.
Loan buy-over and top-up: Simplify your financial obligations and consolidate your loans with ease. If you already have existing loans, Polaris Bank provides the option to buy over, you can also top up your loan.
Zero operating and opening balance: When you open a Polaris Salary Account, you won’t have to worry about any operating or open balance requirements. Enjoy the convenience of managing your finances without unnecessary restrictions.
No branch visit: As a busy professional, your time is valuable. Do all your banking at your convenience anytime, anywhere on VULTe, no need for a branch visit.
No paperwork: Say goodbye to tedious paperwork! No paper work is required to open a Polaris Salary account.
Open an account on VULTe and use “Salary Account” as your referral code.
Don’t have a Polaris Salary account? Make the move today in Four (4) simple steps:
Sign up on VULTe digital bank.
Open an account (note to have your identity cards ready).
Use “Salary Account” as your referral code.
Advise your employer to pay your salary to your Polaris Bank account and start enjoying the benefits.
Polaris Bank is redefining banking products and services that meet the needs of individuals and businesses. The Bank was adjudged Digital Bank of the Year in 2021 and 2022.
The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.
The Presidency says a man identified as Prince Adeniyi Adeyemi Matthew allegedly created and operated fake government agencies, forged appointment letters, and falsely claimed to have been appointed by Femi Gbajabiamila.
According to the statement:
The Office of the Chief of Staff discovered the alleged scheme after complaints from the Nigerian Investment Promotion Commission (NIPC) that an unauthorized body was operating in a way that conflicted with its functions.
The Chief of Staff petitioned the Department of State Services and the Nigeria Police Force in October 2025 to investigate alleged forged appointment letters.
The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.
Investigators allege Adeyemi operated from an office in the Federal Secretariat Complex, held meetings with diplomats, and sought diplomatic support to obtain U.S. visas for members of the alleged organization.
Police reportedly recovered forged documents and other exhibits during searches of his office and residence.
The investigation allegedly found that Adeyemi operated 34 bank accounts, including several in the names of fictitious organizations, and used forged documents to open a Central Bank of Nigeria account.
The Presidency says no government funds were paid into that account.
Police charged Adeyemi and two others before the Federal High Court on multiple counts, including forgery, impersonation, and obtaining by false pretence. The case is scheduled for hearing on July 27.
The Presidency also denied claims that Gbajabiamila appointed Adeyemi, stating that appointments to federal offices are issued through the Office of the Secretary to the Government of the Federation, not the Office of the Chief of Staff.
Current status
The Presidency maintains that:
the agencies in question are fictitious,
the appointment letter was forged,
Adeyemi is an impostor,
and the allegations against him should be resolved by the court.
As the case is pending before the court, the allegations remain subject to judicial determination.
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Business
CBN revokes 46 MFBs’ licences
According to the revocation order, the action became necessary because of one or more of: insufficient assets to meet liabilities; closure of operations without the CBN approval; and inactivity and cessation of financial intermediation.
The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 Microfinance Banks (MFBs).
CBN’s Ag. Director of Communications, Mrs. Hakama Sidi-Ali disclosed that the revocation becomes effective today.
She emphasised that the revocation was in accordance with its powers under Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020.
“The revocation was approved by the Governor of the Central Bank of Nigeria, Mr. OlayemiCardoso, following the banks’ failure to meet the regulatory requirements for continued operation as licensed financial institutions,” she said.
According to the revocation order, the action became necessary because of one or more of: insufficient assets to meet liabilities; closure of operations without the CBN approval; and inactivity and cessation of financial intermediation.
Others were: failure to commence operations within 12 months of licence approval, and failure to maintain minimum capital funds unimpaired by losses.
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