The embattled former governor of CBN, Godwin Emefiele has been accused of using ill-gotten wealth to acquire banks for himself through proxies.

According to CBN’s investigator, Jim Obazee, Emefiele used proxies to acquire Union Bank of Nigeria for Titan Trust Bank Limited, as well as Keystone Bank without any evidence of payment.

Obazee submitted the report of his investigations into acquiring Union Bank and Keystone Bank to President Bola Tinubu on Wednesday in two separate letters dated December 20, 2023.

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This is coming on the heels of findings by the investigator that Emefiele illegally lodged billions of naira in public funds in no fewer than 593 bank accounts in the US, UK and China without the approval of the apex bank’s board of directors and the CBN Investment Committee.

Similarly, Emefiele was indicted for N22.7 trillion Ways and Means advance to the FG without approval from former president Muhammadu Buhari.