CBN Investigator summons Titan Bank Chairman Lemo, others over Union Bank Acquisition

The Special CBN Investigator, Jim Obazee, has called on Titan Trust Bank’s (TTB) chairman, Babatunde Lemo, for questioning regarding TTB’s acquisition of Union Bank of Nigeria Plc (UBN).

According to The Nation, Lemo, a former deputy governor of the Central Bank of Nigeria, has been instructed to present himself at the Department of Force Intelligence in Abuja on Thursday, December 28.

During this appearance, he is slated to undergo questioning regarding the UBN acquisition.

Messrs Cornelius Vink and Rahul Savara, the promoters of the bank, were directed to join the TTB chairman in a meeting with the team of special investigators.

The head of operations, office of the special investigator, signed a letter on December 24, 2023, inviting Lemo to a special event.

The special investigator had in his report alleged that some persons were used as proxies by a former CBN Governor, Godwin Emefiele, to set up Titan Trust Bank and acquire Union Bank.

In furtherance of the investigation into the UBN deal, and response to Lemo’s defence, the investigator in the letter titled, ‘RE: CBN investigation activities: Invitation for a follow-up meeting with the Special Investigator,’ took the TTB chairman to task on his defence.

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