United Bank for Africa, (UBA), under Tony Elumelu, has fraudulently diverted a princely sum of N3.9 billion NSEI funds, according to the Jim Obazee report on the activities of the Central Bank of Nigeria, (CBN) under its former governor, Godwin Emefiele. The Obazee Report indicted Tony Elumelu and Managing Directors of UBA from 2015 till date of alleged diversion of N3.9 billion meant for participation in the Nigerian Electricity Market Stabilization Facility. The report submitted to President Bola Tinubu, specifically indicted billionaire Elumelu and Managing Directors of the UBA, and…
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CBN Probe: Tunde Lemo, other Titan Trust Bank executives shun Tinubus Investigator
…As he lacks power to summon them Jim Obazee, President Tinubus man probing the Central Bank of Nigeria CBN), has met resistance from Babatunde Lemo and other C-suite officials of Titan Trust Bank (TTB) Ltd., amid growing concerns about the special investigators authority to summon targets of his probe. Recall that Lemo, Titan Trusts Chairman, and Cornelis Vink, its Chief Executive, had been invited to appear on December 28, 2023, to respond to relevant queries about Titan Trusts questionable acquisition of Union Bank of Nigeria. Obazee said his office determined…
Read MoreUnion Bank: CBN Investigator summons Tunde Lemo, Titan bank officials over sale
The Special Investigator appointed by President Bola Tinubu to probe the Central Bank of Nigeria (CBN), Jim Obazee, has summoned the Chairman of Titan Trust Bank (TTB), Tunde Lemo, and two other shareholders of the bank over the controversial acquisition of Union Bank of Nigeria, Plc. This comes after Lemo, a former deputy governor of the CBN, faulted the investigators findings on the issue. Recall that Tinubu had, on June 9, 2023, suspended former governor of the CBN, Godwin Emefiele, and thereafter named the Chief Executive Officer of the Financial…
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