Posted by Jim Obazee, who is investigating the CBN on behalf of President Bola Ahmed Tinubu, has disclosed that two banks that were unlawfully sold to Godwin Emefiele are about to be reclaimed by the government.
The article states that without proper documentation of payment, Emefiele acquired Union Bank of Nigeria on behalf of Titan Trust Bank Limited and Keystone Bank through the use of proxies.
On Wednesday, December 20, 2023, Obazee sent two letters to President Bola Tinubu detailing his findings from his study on the possible acquisition of Union Bank and Keystone Bank.
Following this, the investigator found that Emefiele secretly stashed public monies worth billions of naira in at least 593 accounts in the US, UK, and China, all without the knowledge or consent of the CBN Investment Committee or the board of directors of the central bank.
Also, without former president Muhammadu Buhari’s approval, Emefiele advanced N22.7 trillion to the federal government. He was indicted for this.
On December 9, 2023, Obazee sent President Tinubu an interim report that included the revelations.
The inquiry revealed that Mr. Godwin Emefiele used proxies to establish Titan Trust Bank and subsequently buy Union Bank with the help of illegally obtained funds.
The federal authorities will be able to seize the two banks since we obtained papers and investigative reports that prove it.
All of the necessary parties have been met with and our research into this acquisition is complete with the exception of Mr. Cornelis Vink, who is presently hospitalised in Switzerland.
“On the other hand, the Federal Government is about to reclaim these two banks.”
Obazee was chosen to investigate the CBN by President Tinubu on July 28 following the suspension of Emefiele, who had presided over the central bank from June 4, 2014, to June 9, 2023, as reported in the Daily Post.
On November 22, Justice Hamza Muazu granted Emefiele bail over N1.2 billion procurement charges; however, he is still in prison for failing to meet the bail requirements.