Thursday , 31 October 2024

Alleged trillions of Naira mismanaged : Tunde Lemo and Others Shun Invitation By CBN Special Investigator Over Acquisition Of Union Bank


Our correspondent, had reported that the Special Investigator served Lemo, a former CBN deputy governor, its summon on December 24, and was directed, to appear at the Department of Force Intelligence in Abuja on Thursday.

The chairman of Titan Trust and its chief executive, Babatunde Lemo and Cornelis Vink, have reportedly ignored the summons by Central Bank of Nigeria (CBN), Special Investigator, Jim Obazee over the acquisition of Union Bank of Nigeria Plc by TTB.

Out correspondent had reported that the Special Investigator served Lemo, a former CBN deputy governor, its summon on December 24, and was directed, to appear at the Department of Force Intelligence in Abuja on Thursday.
The summons specifically requests his presence alongside Cornelius Vink and Rahul Savara, key figures linked to TTB.
The summons holds significance in scrutinising transactions during Lemo’s tenure at the bank and their potential association with former CBN Governor Godwin Emefiele.

President Tinubu In a letter dated July 28, 2023, named Obazee, a former Executive Secretary of the Financial Reporting Council of Nigeria, as the CBN special investigator.

Obazee reportedly submitted his final report tagged, “Report of the Special Investigation on CBN and Related Entities (Chargeable offences)” to President Bola Tinubu penultimate Wednesday.
In the report, the investigator made stacking revelation on how trillions of Naira were mismanaged under the immediate past Governor of the Central Bank of Nigeria, Godwin Emefiele.

However, Obazee had said his office determined ex-CBN governor Emefiele used Lemo and others as proxies to set up Titan Trust Bank, which then acquired Union Bank, one of the largest legacy financial institutions in Nigeria.

Obazee said the bankers agreed to honour the invitation but tried to back out at the last minute. He said he would not extend the invitation and threatened to confiscate Union Bank and other assets of Titan Trust.

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