PM NEWS
The Office of Special Investigator Jim Obazee has insisted that Mr Tunde Lemo, the Chairman of Titan Trust Bank, TTB, Mr Cornelius Vink and Rahul Savara must appear before it today to prove that their acquisition of Union Bank of Nigeria, UBN, followed due process or risk losing the financial institution to the Federal Government.
This followed a letter by the legal firm of the purported buyers of the UBN that they can only honour the investigation of the Special Investigator when they after second week of January 2024 when they will come back to the country.
The Special Investigator had last Tuesday invited Lemo, Vink and Savara, a former Central Bank of Nigeria, CBN Deputy Governor, Vink and Savara to appear before its panel with some documents to prove that they followed due process and duly paid for the acquisition of majority shares in UBN.
The Special Investigator had in two reports submitted to President Bola Tinubu alleged that former governor of CBN, Godwin Emefiele used his position to acquire UBN, using proxies as a cover-up.
He also alleged that there was no evidence that TTB and the other purported investors paid for the majority shares of the UBN. The Special Investigator had also alleged that the address of TGI, the Dubai based firm which funded the acquisition of UBN through TTB could not be traced, while there was no evidence of capital importation into the country for the purchase of the financial institution by the purported buyers.
READ THE FULL STORY IN PM NEWS
