Jim Obazee, the investigator appointed by President Bola Ahmed Tinubu to investigate the Central Bank of Nigeria (CBN), has disclosed startling findings related to the alleged illegal sale of two banks to former CBN governor, Godwin Emefiele.
Obazee’s investigation suggests that Emefiele utilized proxies to acquire Union Bank of Nigeria for Titan Trust Bank Limited and Keystone Bank without substantiated evidence of payment. The investigator submitted his comprehensive report to President Tinubu on Wednesday, encompassing details of these transactions, dated December 20, 2023.
This revelation follows Obazee’s earlier findings that Emefiele allegedly deposited billions of naira in public funds across 593 bank accounts in the United States, United Kingdom, and China without proper authorization from the apex bank’s board of directors and the CBN Investment Committee.
Moreover, Emefiele faces accusations of providing a N22.7 trillion Ways and Means advance to the Federal Government without obtaining approval from former President Muhammadu Buhari. These disclosures were unveiled in an interim report submitted by Obazee to President Tinubu on December 9, 2023.
Obazee said, “When we carried out the investigation, we discovered that some persons were used as proxies by Mr Godwin Emefiele to set up Titan Trust Bank and acquire Union Bank therefrom, all from ill-gotten wealth.
“We were able to secure some documents and investigation reports that will lead to the forfeiture of the two banks to the federal government.
“We have completed our investigation on this acquisition and have also held meetings with the relevant parties except for Mr Cornelis Vink, who is currently hospitalised in Switzerland.
“Otherwise, we are on the verge of recovering these two banks for the Federal Government.”