Auwal Lawan: The Most Talked-about Businessman at the Moment

HighLife

Incredible things are happening in Nigeria. Those that used to be described as having to rely on the prestige of their relatives have started to make waves of their own. The detractors are left to their mobile devices, reading comment after comment of someone else’s good works. The name ‘Auwal Lawan’ is currently at the tip of every informed person’s tongue. That is because the bearer of that name managed to purchase Polaris Bank when many of his peers were still wondering whether or not the bank was up for grabs.

Lawan is currently the bride of many inquiries. After the news began making the rounds that he had purchased Polaris Bank for N1.35 trillion, people began to speculate about his person, his businesses, the connections, and how he was able to snag possession of the bank from under the noses of more famous business people in Nigeria. After all, Lawan is said to have immediately coughed out N50 billion of the total cost price, to settle the rest later on.

In truth, Lawan is every bit the equal of the aforecited famous Nigerian businesspeople. He is reported to be the financial bicep behind Strategic Capital Investment Limited (SCIL), the company that he used to bargain with the Asset Management Corporation of Nigeria (AMCON) and the Central Bank of Nigeria (CBN) over the acquisition of Polaris Bank. And he succeeded in this endeavour.

It is interesting to note that SCIL was only registered in April 2022, making it merely six months at the time Lawan used it to acquire Polaris Bank. Before SCIL, Lawan had two other notable companies: Ponglomerape Limited and Nice Corporate Services Limited. However, it is unknown whether Lawan is the only corporate power behind the two companies. Nevertheless, he certainly used them, Ponglomerape Limited, especially, to further his ambition to get Polaris Bank. And, once again, he succeeded where others failed.

As the new waves will gradually overtake the old and Polaris Bank completely exchanges hands, the reputation of Lawan will continue to climb and rise until he is one of the corporate giants in Nigeria and this corner of Africa.