Business
Polaris Bank debunks death reports in Lagos branch fire incident
Polaris Bank Limited has debunked reports claiming that over 34 persons died in a fire incident at its Broad Street branch in Lagos, describing the claims as false and misleading.
The bank issued the disclaimer in a post on X on Thursday, insisting that there were no casualties or fatalities in the fire incident.
A fire broke out on Thursday afternoon at a multi-storey building housing a Polaris Bank branch on Broad Street, Lagos Island.
The bank said the fire incident, which originated from a customer’s vehicle parked on the third-floor car park, was contained following the activation of its emergency response procedures and the prompt intervention of firefighters.
“A fire incident occurred today at the car park of our Broad Street Branch, Lagos, originating from a customer’s vehicle parked on the 3rd-floor car park.
“The fire was swiftly contained following the activation of our emergency response procedures and the prompt intervention of firefighters,” the bank stated.
READ ALSO: CBN, Polaris Bank refute liquidation rumors
Polaris Bank said it has commenced investigations to determine the cause of the fire incident, noting that reports claiming that over 34 persons were feared dead are false and misleading.
“We confirm that there were no casualties or fatalities. Reports claiming that over 34 persons were feared dead are false and misleading.
“Investigations into the incident are ongoing. We thank emergency responders, our staff, customers, and stakeholders for their support,” the bank said.
Polaris Bank urged the public to rely only on credible news platforms and its official channels for accurate information and to disregard false reports circulating online.
The Federal Government has paid outstanding severance benefits to 2,100 former workers of the defunct Nigeria Airways, more than two decades after the national carrier was liquidated.
The payment covers beneficiaries in Batches 1 to 7, according to a statement issued by the Federal Ministry of Finance on Friday.
Another 600 former workers in Batches 8 and 9 are being processed for payment and are expected to receive their benefits within days, bringing the total number of beneficiaries under the exercise to 2,700.
The ministry said the benefits across the nine batches amount to N18 billion.
Nigeria Airways, which was established in 1958 as the country’s national carrier, ceased operations in 2003 and was liquidated in 2004. Many former workers subsequently spent years pursuing unpaid terminal and severance benefits.
The latest payment follows years of demands by former workers and interventions by the National Assembly and successive administrations over the outstanding liabilities.
In January 2025, the National Assembly Joint Committee on Aviation said the Federal Government owed former Nigeria Airways workers N36 billion and threatened to withhold approval of the aviation budget unless provisions were made for the payment.
How the payment was made
The Ministry of Finance said President Bola Tinubu had earlier approved the settlement of the outstanding severance obligations and directed that the matter be concluded.
Under the direction of the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, the ministry said processes were undertaken to identify eligible beneficiaries, validate records and establish the financial obligations before payments commenced.
Mr Oyedele said the payment was part of the government’s effort to address legitimate outstanding obligations.
“Behind these figures are people and families who have waited for years to receive what is legitimately due to them,” he said.
“Our responsibility is to confront outstanding obligations, complete the necessary processes and, once the resources are secured, ensure that the people affected feel the impact of government positively.”
He said the exercise demonstrated what could be achieved when government institutions worked together to resolve longstanding issues.
READ ALSO: NASS panel threatens to withhold aviation budget until Ex-Nigerian Airways workers are paid
The ministry also acknowledged the involvement of the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, and the National Assembly Joint Committees on Aviation in efforts to resolve the matter.
The ministry said the objective was to ensure that legitimate beneficiaries received their approved entitlements while maintaining safeguards around public funds.
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