The boards and managements of Titan Trust Bank, Union Bank, Keystone Bank and Polaris Bank have been dissolved.
The dissolution is part of the implementation of the report of the Special Investigator on Central Bank of Nigeria (CBN) and Related entities, Jim Obazee, by President Bola Tinubu.
ThisNigeria reported that the office of the Special Investigator had warned the Chairman of Titan Trust Bank, Babatunde Lemo against obstructing investigation by not honouring the 28th December invitation.
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This was in reaction to the letter received by the office from the legal counsels representing Lemo and two other shareholders in Union Bank, Cornelius Vink and Rahul Savara, stating their inability to honour the invitation due to their absence in the country.
The team had earlier on August 28 invited Lemo and other core shareholders of TTB for a crucial meeting, but the Secretary of Union Bank Plc, Somuyiwa Sonubi, had in response to the invite on September 1, given reasons why the invited persons could not meet up the appointment.
However, the latest invitation was sequel to Lemo’s defence in one of the national dailies on Sunday, following the release of the report of the special investigation into the activities of the CBN and other related entities.
