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The Central Bank of Nigeria (CBN) has dissolved the boards and management of Titan Trust Bank, Union Bank, Polaris Bank, and Keystone Bank based on a report submitted to President Bola Tinubu by Special Investigator, Jim Obazee.
The decision followed a meeting between CBN Governor Yemi Cardoso, Obazee, and the banks’ boards.
Titan Trust Bank’s Chairman, Tunde Lemo, and others were summoned by the Special Investigator over the acquisition of Union Bank.
The report alleges that former CBN governor, Godwin Emefiele, used proxies to acquire Union Bank and links the late Alhaji Ismaila Isa Funtua to the acquisition of Keystone Bank and Polaris Bank.
Peoplesmind
