DAILY TRUST
The sacked governor of the Central Bank of Nigeria (CBN), Godwin Emefiele allegedly used proxies and purchased Union Bank of Nigeria (UBN), a report by Jim Obazee, the special investigator appointed by President Bola has shown.
The late Alhaji Ismaila Isa Funtua, an ally of former President Muhammadu Buhari, was also fingered alongside Emefiele in the acquisition of Keystone Bank and Polaris Bank.
The acquisitions were carried out separately over time as seen in the report submitted to President Tinubu on December 20, 2023.
Daily Trust Saturday got access to some of the documents through credible sources as the report has not been made public yet.
It was on July 30, 2023 that President Bola Ahmed Tinubu appointed Obazee, the chief executive officer of the Financial Reporting Council of Nigeria as the special investigator.
The Union Bank acquisition
In the report seen by our reporter, the detailed stages followed to acquire the Union Bank, one of the first generation financial institutions in Nigeria, were contained in a memo to President Tinubu, titled, “Report of the Investigation of the Acquisition of Union Bank of Nigeria by Titan Trust Bank.”
