Emefiele: Titan Bank chairman, others summoned by CBN investigator

Alex Omenye
Alex Omenye

The Special Investigator from the Central Bank of Nigeria, Jim Obazee, has summoned the chairman of Titan Trust Bank, Babatunde Lemo, for an inquiry related to TTB’s acquisition of Union Bank of Nigeria Plc.

“Please, refer to your discussion with the Special Investigator earlier today regarding the offensive defence that your good self issued in PUNCH newspapers, on behalf of TTB which you chair, as well as the email you sent to the Special Investigator today wherein you tried to provide clarification on your reaction to the report on TTB,” a part of the letter reads

The Nation reports that Babatunde Lemo, a former deputy governor of the Central Bank of Nigeria, has been ordered to appear at the Department of Force Intelligence in Abuja on Thursday, December 28. His appearance is for an interrogation concerning the acquisition of Union Bank of Nigeria.

In this session, he is expected to be questioned about the details of the UBN acquisition. The promoters of the bank, Messrs Cornelius Vink and Mr Rahul Savara, have also been instructed to accompany the TTB chairman for a meeting with the team of special investigators.

In his report, the special investigator claimed that certain individuals were allegedly used as proxies by a former CBN Governor, Godwin Emefiele, to establish Titan Trust Bank and facilitate the acquisition of Union Bank.

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