Abuja, Dec. 28, 2023 – The Special Investigator into activities of the Central Bank of Nigeria (CBN) has advised Babatunde Lemo, the Chairman of Titan Trust Bank (TTB), to meet the investigators as scheduled today, Thursday, Dec. 28, 2023 or forfeit his shares and other interests in the bank.
The investigator warned that failure of Lemo and other major shareholders of TTB to attend today’s meeting might lead to the forfeiture of their shareholding and interests in Titan Trust Bank and Union Bank Nigeria Plc.
It turned down Lemo’s request for a shift of the date of the meeting to Jan. 7, 2024 as the two major shareholders of Titan Trust Bank, Mr Cornelius Vink and Rahul Savara, were outside the country.
This is the second meeting with Lemo and the others shareholders in the bid by the investigator to gain more insights into the acquisition of Union Bank of Nigeria Plc by TTB.
The investigator had alleged, in his report, that some persons were used as proxies by a former CBN governor, Godwin Emefiele, to set up Titan Trust Bank and acquire Union Bank, all from ill-gotten wealth. (GBN)
