Emefiele to forfeit two banks illegally sold to him

Jim Obazee, President Bola Ahmed Tinubu’s investigator probing the Central Bank of Nigeria, CBN, has revealed that the government is on the verge of recovering two banks illegally sold to former CBN governor, Godwin Emefiele.

According to the report, Emefiele used proxies to acquire Union Bank of Nigeria for Titan Trust Bank Limited and Keystone Bank without any evidence of payment.

Accordingly, Obazee submitted the report of his investigations into acquiring Union Bank and Keystone Bank to President Bola Tinubu on Wednesday in two separate letters dated December 20, 2023.

This is coming on the heels of findings by the investigator that Emefiele illegally lodged billions of naira in public funds in no fewer than 593 bank accounts in the United States, United Kingdom and China without the approval of the apex bank’s board of directors and the CBN Investment Committee.

Similarly, Emefiele was indicted for N22.7 trillion Ways and Means advance to the Federal Government without approval from former president Muhammadu Buhari.

The revelations were contained in the interim report submitted by Obazee to President Tinubu on December 9, 2023.