The Central Bank of Nigeria investigator panel, headed by Jim Obazee, has come under fire from Titan Trust Bank for its report detailing the apex bank’s operations.
The bank of the new generation asserted that there was no deception involved in the purchase of Union Bank.
Recall that on Wednesday, President Bola Tinubu received two separate letters dated December 20, 2023, from the Obazee-led panel, which contained the report of their investigations into the acquisition of Union Bank and Keystone Bank.
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According to the special inquiry report, Emefiele utilized proxies to purchase Keystone Bank and Union Bank on behalf of Titan Trust Bank Limited without providing any proof of payment. In his letters to the president, Obazee claimed to have finished looking into Titan Bank’s illegitimate takeover of Union Bank and to be close to regaining the two banks for the federal government.
The two banks will be forfeited to the federal government as a result of the documents and investigative reports that we were able to obtain. We have finished our inquiry into this acquisition and have met with all pertinent individuals, with the exception of Mr. Cornelis Vink, who is presently receiving medical attention at a Swiss hospital.