Tokunbo Abiru: See How He Became Lagos East Senator

Senator Mukhail Tokunbo Abiru was born in Lagos State, and having built a successful career in banking, he transitioned into politics and now serves as the Senator representing Lagos East Senatorial District.

Abiru is a Nigerian banker-turned-politician. He is a member of the All Progressives Congress (APC) and currently serves as the Senator for Lagos East Senatorial District. He is most known for his distinguished banking career and his “Doing Good” brand of constituency service.

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Mukhail Adetokunbo Abiru was born on 25 March 1964 in Lagos State, Nigeria. He is an indigene of Ikorodu, but he grew up in Gbagada. He attended Government College Surulere and Baptist Academy, Obanikoro. He earned a B.Sc. in Economics from Lagos State University (LASU) and, apart from his youth service in Kaduna, has spent his entire working life in Lagos State.

He is a Fellow of The Institute of Chartered Accountants of Nigeria (ICAN) and an Honorary Fellow of The Chartered Institute of Bankers of Nigeria (FCIB). He is also an alumnus of both Lagos Business School (LBS) and Harvard Business School (USA).

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Before his entry into full-time politics, Abiru had a prominent career in banking and finance. Key points: He worked at major Nigerian banks, including roles at Guaranty Trust Bank (1991-2000) and First Bank of Nigeria Plc, where he rose to the position of Executive Director, Corporate Banking.

He also served as the Honourable Commissioner for Finance in Lagos State from 2011 to 2013, under Governor Babatunde Raji Fashola. Notably, during that tenure, Lagos State floated an N80 billion bond, which won the EMEA Finance Best Local Currency Bond Award for 2012.

After his time as Commissioner, he was appointed by the Central Bank of Nigeria (CBN) in July 2016 as Group Managing Director/Chief Executive of the then-troubled Skye Bank Plc, which was subsequently rebranded as Polaris Bank Limited under his leadership during the turnaround.

He later retired from Polaris Bank, effective 31 August 2020, in preparation for contesting the Senate seat. This banking and public-finance background provided him with strong credentials for his later political role.

In August 2020, Abiru retired from his banking post to run for election to the Senate. He contested the bye-election for the Lagos East Senatorial District under the APC platform and won in December 2020.

• Political Party: APC (has maintained this affiliation).

• Elected Senator for Lagos East in December 2020.

• In the 10th National Assembly, he was appointed Chairman of the Senate Committee on Banking, Insurance & Other Financial Institutions.

• In March 2024, he was elected Chairman of the Southern Senators’ Forum, which gathers senators from the southern states of Nigeria.

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• Legislative: He has championed bills such as the Copyright Bill, Franchise Regulation Bill, amendments to the CBN Act and NDIC Act.

• Constituency development: Through his office, he launched empowerment initiatives (e.g., a ₦300 million revolving loan for MSMEs at a 6% interest rate) and direct relief to vulnerable groups during COVID-19.

• Infrastructure & social projects: He has facilitated school renovations, health centre upgrades, and road reconstructions in Lagos East.

Senator Abiru is married to Mrs. Feyisola Abiru. Together they are involved in philanthropic efforts, including the “SAIL Endowment Foundation,” which runs an Innovation Lab in Ikorodu for youth training in tech and innovation. He is publicly known for his commitment to service, humility and is often described as the “Doing Good Senator”.

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While officially declared net worth figures are not publicly verified, several online sources estimate his net worth at approximately US $7 million (₦50 billion) as of 2025.

His wealth sources include his long banking career (in senior executive roles), political earnings, real estate investments, and business interests. Given his public service ethos, a large part of his recorded focus has been on empowerment and constituency programmes rather than ostentatious personal displays.

This statement was made by Senator Abiru in March 2024, shortly after he was elected as Chairman of the Southern Senators’ Forum (SSF). At the time, his election was seen as a unifying move within the 10th National Assembly, aimed at strengthening regional cooperation between northern and southern lawmakers.

During his acceptance speech, Abiru emphasised national unity and bipartisan collaboration, saying the SSF would not function as a regional bloc of opposition but as a platform to promote dialogue, balance, and joint legislative progress across Nigeria’s regions.

This quote was made in September 2022 during the launch of the ₦300 million Constituency Intervention Revolving Loan Scheme for MSMEs and small business owners in Lagos East Senatorial District.

The initiative was part of his “Doing Good” agenda, a long-term empowerment and social investment program targeting youth, market women, and artisans in his constituency. The loan program was structured with a single-digit interest rate (6%), made possible through a partnership with the Lagos State Employment Trust Fund (LSETF) and financial partners.

In his speech, Senator Abiru emphasized that MSMEs are the backbone of Nigeria’s economy, and that access to affordable credit remains one of the key barriers preventing local entrepreneurs from growing.

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• In March 2024, he celebrated his 60th birthday, an event publicly noted by the President of Nigeria.

• In late 2025 (October), he inspected ongoing infrastructure projects in Lagos East, reaffirming his commitment to development in his district.

Senator Abiru represents a profile of a technocrat-turned-public servant: from a distinguished banking career to a visible political role characterised by service, empowerment, and infrastructure delivery.

In Lagos East, he is best known for his “Doing Good” brand of representation focusing on youth training, SMEs, and legislative reform in the financial sector. Nationally, his ascent to leadership among southern senators signifies his increasing influence.

While the long-term legacy is still unfolding, his background, achievements, and style position him as one of Nigeria’s more modern and service-oriented legislators.

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