The Particular investigator appointed by President Bola Tinubu to probe the central financial institution of Nigeria has summoned the chairman of Titan Financial institution and former deputy governor of the Central Bank, Babatunde Lemo for interrogation on Thursday in Abuja.
It’s understood that the invitation follows the rising frustration of the particular investigator Jim Obaze to put palms on the illusive homeowners so they can provide evidence of the source of the $500m used to acquire Union Bank. Obaze and his investigators consider the funds might have come from sacked CBN governor Godwin Emefiele.
The 2 majority shareholders, Cornelius Vink and Rahul Savara have to reply mounting queries referring to the curious takeover by Titan Financial institution of Union Financial institution, certainly one of Nigeria’s oldest monetary establishments.
The letter inviting Lemo and others was signed by the Head of Operations, Workplace of the Particular Investigator, Eloho Okpoziakpo, a deputy commissioner of police (DCP) and addressed to Lemo.
Based on the summons, “please seek advice from your dialogue with the Particular Investigator earlier immediately concerning the offensive defence that your good self-issued in Punch newspapers, on behalf of TTB which you chair, in addition to the e-mail you despatched to the Particular Investigator immediately whereby you tried to offer clarification in your response to the report on TTB.
“The defence appears opposite to the statements, made underneath warning, by the individuals related with these transactions, together with your good self, earlier than the Particular Investigator on the Division of State Service (DSS) in August.
“Within the newspapers, you referred to each Cornelius Vink and Rahul Savara as ‘outstanding world entrepreneurs and having thriving companies in Nigeria.’
“In your electronic mail in addition to your earlier dialogue with the Particular Investigator, you instructed that each of them be invited to make clear their share possession and given seven days to make such clarification, failure which they may forfeit their shares to the Federal Authorities of Nigeria.
“We’re shocked at your request regarding these two shareholders. They got this chance by way of a letter to them dated twenty eighth August 2023.
“As a substitute of honouring the invitation and offering the requested paperwork, we obtained a letter from the Firm Secretary of Union Financial institution, Somuyiwa Sonubi, dated 15 September 2023, informing the Particular Investigator that Mr. Cornelius Vink was overseas on medical grounds and that each ‘Messrs Vink and Savara shall be obtainable for the assembly as quickly as they’re in Nigeria which shall be quickly’.
“Till this offensive defence that you simply put within the public area, the Particular Investigator has neither heard from them nor obtained the requested paperwork.”
The particular investigator has requested that the banks be seized by the federal authorities and it’s now being instructed that the large stick may be wielded ought to these invited fail to honour the invitation to allow the investigator to unravel different particulars on the $ 500 million acquisition of Union Financial institution by Titan Belief Financial institution (TTB).
A conglomerate, the Tropical Common Funding Group (TGI), insisted in newspaper publications on Sunday that the USD 500 million capital used to pay for the transaction didn’t come from Emefiele.
Obazee and his workforce of crack detectives alleged that their findings proved in any other case.
In a report back to Nigeria President, the Investigator alleged that the 2 banks had been owned and purchased by the proxies of the previous CBN Governor, Godwin Emefiele, who has denied the declare.
However makes an attempt by the investigators to work together with the Chairman of TGI, Vink, since August haven’t succeeded.
TGI stated Vink, who has been in Nigeria since 1978, is an aged particular person and has just lately been medically suggested to restrict his motion.
The Particular Investigator insisted that since TGI assured his workforce that the 2 shareholders would “quickly” honour the invitation, it was time for them to come back for interplay.
In a December 24 letter, the Particular Investigator requested Lemo and the 2 others to seem earlier than his workforce on Thursday.
