Tokunbo Abiru

Tokunbo Abiru (born 25 March 1964) was the Group Managing Director/Chief Executive Officer of Polaris Bank Limited, Nigeria. He attended the six-week Harvard Business School Advanced Management Program and Lagos Business School (Senior Management Program). He holds a B.Sc (Economics) from Lagos State University[1] 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[2]

Tokunbo Abiru
Born (1964-03-25) 25 March 1964
Lagos State, Nigeria
EducationHarvard Business School
Lagos State University
OccupationFormer MD, Polaris Bank
Years active2016—2020
Political partyAll Progressives Congress
Spouse(s)Feyisola Abiru
Children


    Websitetokunboabiru.com

    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.

    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.

    Tokunbo has also served in various reputable 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). He holds a B.Sc. Economics from Lagos State University. He is an alumnus of Harvard Business School & Lagos Business School (Executive Education Programmes); a Fellow of the Institute of Chartered Accountant of Nigeria (FCA) and an Honourary Fellow of the Chartered Institute of Bankers of Nigeria (FCIB). He is happily married with children.

    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.[3] He opened up discussions on taxation in Lagos State after the discovery of over 5.5 million tax evaders in 2013.[4] His efforts also led to increased Land Use Charge revenue generations to the tune of N6.2bn.[5]

    Tokunbo 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.[6]

    He was elected as the senator of Lagos East Senatorial district in a bye-election on December 5, 2020.[7]

    References
    1. "CBN appoints Abiru, former Lagos finance commissioner, as Skye Bank CEO". The Cable. Retrieved 8 July 2016.
    2. "Tokunbo Abiru retires from Polaris Bank ahead of senatorial election to replace Osinowo". TheCable. 2020-08-24. Retrieved 2020-08-26.
    3. Adagba (2 July 2013). "Lagos Bags International Award for Successful Local Bond Issue". News Herald. Retrieved 8 July 2016.
    4. "LASG uncovers 5.5m tax evaders in informal sector - Vanguard News". 2013-05-23. Retrieved 2016-07-08.
    5. "Lagos rakes in N6.28bn from Land Use Charge". Africa Aboard. 27 May 2013. Retrieved 8 July 2016.
    6. "Lagos Homes Mortgage Scheme Takes Off As Fashola Inaugurates Board, Website (www.lagoshoms.gov.ng)". www.tundefashola.com. Retrieved 2016-07-08.
    7. "INEC declare APC Tokubo Abiru winner of Lagos east senatorial seat". BBC News Pidgin. Retrieved 2021-02-04.
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