Indications have emerged that the acquisition of Union Bank Plc by Titan Trust Bank which has now attracted scrutiny following the reports by Jim Obazee, the Special Investigation on CBN and Related Entities (Chargeable offences) that some persons were used as proxies by a former CBN Governor, Godwin Emefiele.
Special CBN Investigator, Jim Obazee, has summoned the Chairman of Titan Trust Bank, Babatunde Lemo, in connection with the acquisition of Union Bank of Nigeria Plc by TTB.
The TTB chairman, a former deputy governor of the Central Bank of Nigeria, was directed to report at the Department of Force Intelligence opposite the Force headquarters, Shehu Shagari Way, Abuja on Thursday, where he is expected to be questioned over the UBN acquisition.
Lemo was further instructed to come along with the promoters of TTB, Messrs Cornelius Vink and Mr Rahul Savara, to meet with the team of special Investigators.
Lemo was invited in a letter dated December 24, 2023, and signed by the Head of Operations, Office of the Special Investigator, DCP Eloho Okpoziakpo.
In the latest letter summoning Lemo for a follow-up meeting, the Office of the Special Investigator said;
“Accordingly, you are hereby invited to come along with Messrs Cornelius Vink and Mr Rahul Savara to meet with the Team of Special Investigators by 2pm on 28th December 2023 at the Department of Force Intelligence, Opposite Nigeria Police Force Headquarters, Shehu Shagari Way, Area 11, Garki, Abuja; without fail or excuse”,
The letter added, ‘’Please, inform them to come along with all the documents/information requested from them by the letter to Mr Cornelius Vink dated 28th August 2023 (attached herewith as Appendix 1). You will also be required to make additional statements to your earlier statement on that day.
‘’Kindly note that if Messrs Cornelius Vink and Rahul Savara refuse to attend this meeting and provide/defend the requested documents/information, it will be construed that they have decided to forfeit their purported shareholdings in TTB and Union Bank of Nigeria; irrespective of which vehicle that they are using to own the purported shares.
“Should you also refuse to attend the meeting to provide additional statement to your earlier statement made in August 2023, it will be construed that you misled the Nigerian public with your reaction in the PUNCH Newspapers today which has gained wide publicity in both electronic and print media.’’
The investigator explained that the invitation was to further ensure that ‘’it is beyond reasonable doubt that the Federal Government of Nigeria has given you a fair hearing.’
