Tokunbo Abiru

Mukhail Adetokunbo Abiru FCA (born 25 March 1964) is a Nigerian banker and politician. He is the Senator representing the Lagos East Senatorial District at the 9th Nigerian National Assembly.[1]

Senator
Tokunbo Abiru
Senator for Lagos East
Assumed office
December 2020
Preceded byBayo Osinowo
Personal details
Born (1964-03-25) 25 March 1964
Lagos State, Nigeria
Political partyAll Progressives Congress
SpouseFeyishola Abiru
EducationHarvard Business School
Lagos State University
OccupationBanker
Websitetokunboabiru.org

He 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).[2] He holds a B.Sc (Economics) from Lagos State University[3] 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 24 August 2020, Abiru resigned from Polaris Bank to contest the Lagos East senatorial election under the platform of the All Progressives Congress.[4]

He was named the chairman, Senate committee on banking of the 10th senate on 8th August, 2023.[5]

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.[6]

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.[7]

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 covid19, he has as donated 150,000 face masks to primary schools in his zone.[8]

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.[9] He opened up discussions on taxation in Lagos State after the discovery of over 5.5 million tax evaders in 2013.[10] His efforts also led to increased Land Use Charge revenue generations to the tune of N6.2bn.[11]

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.[12]

He was elected as the senator of Lagos East Senatorial district in a bye-election on December 5, 2020.[13]

References
  1. "Mirroring Abiru's strides in Lagos East - The Nation Newspaper". thenationonlineng.net. Retrieved 2022-03-16.
  2. "INEC declare APC Tokunbo Abiru winner of Lagos east senatorial seat". BBC News Pidgin. Retrieved 2021-03-17.
  3. "CBN appoints Abiru, former Lagos finance commissioner, as Skye Bank CEO". The Cable. Retrieved 8 July 2016.
  4. "Tokunbo Abiru retires from Polaris Bank ahead of the senatorial election to replace Osinowo". TheCable. 2020-08-24. Retrieved 2020-08-26.
  5. "Lawan, Yari, Tambuwal, Oshiomhole, Sani Musa, Others Emerge Senate Committee Chairmen - THISDAYLIVE". www.thisdaylive.com. Retrieved 2023-08-08.
  6. "Seven things you should know about Lagos East Senator-Elect, Abiru". Latest Nigeria News, Nigerian Newspapers, Politics. 2020-12-06. Retrieved 2021-03-17.
  7. "Seven things you should know about Lagos East Senator-Elect, Abiru". Latest Nigeria News, Nigerian Newspapers, Politics. 2020-12-06. Retrieved 2021-03-17.
  8. "Tokunbo Abiru Archives". The Guardian Nigeria News - Nigeria and World News. Retrieved 2021-03-17.
  9. Adagba (2 July 2013). "Lagos Bags International Award for Successful Local Bond Issue". News Herald. Retrieved 8 July 2016.
  10. "LASG uncovers 5.5m tax evaders in informal sector - Vanguard News". 2013-05-23. Retrieved 2016-07-08.
  11. "Lagos rakes in N6.28bn from Land Use Charge". Africa Aboard. 27 May 2013. Retrieved 8 July 2016.
  12. "Lagos Homes Mortgage Scheme Takes Off As Fashola Inaugurates Board, Website (www.lagoshoms.gov.ng)". www.tundefashola.com. Retrieved 2016-07-08.
  13. "INEC declare APC Tokunbo Abiru winner of Lagos east senatorial seat". BBC News Pidgin. Retrieved 2021-02-04.
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