Emefiele’s proxy-run TTB denies fraudulent Union Bank acquisition

Titan Trust Bank has blasted the Central Bank of Nigeria investigator, Jim Obazee-led panel over the report of the apex bank’s activities.

The new generation bank claimed that there was no fraud in the acquisition of Union Bank.

Recall that the Obazee-led panel had, on Wednesday, submitted the report of investigations into the acquisition of Union Bank and Keystone Bank to President Bola Tinubu in two separate letters dated December 20, 2023.

The report of the special investigation had accused Emefiele, of using proxies to acquire Union Bank for Titan Trust Bank Limited, as well as Keystone Bank without any evidence of payment. In his letters to the president, Obazee said he had completed his investigation into the illegal acquisition of Union Bank by Titan Bank, and was on the verge of recovering the two banks for the federal government.

“We were able to secure some documents and investigation reports will lead to the forfeiture of the two banks to the federal government. We have completed our investigation on this acquisition and have also held meetings with the relevant parties except for Mr. Cornelis Vink, who is currently hospitalised in Switzerland. READ MORE

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