Daud Olatunji
A comprehensive investigation led by Special Investigator Jim Obazee has exposed a web of deceit and corruption involving key figures such as former CBN governor Godwin Emefiele, ex-SGF Boss Mustapha, and Titan Trust Bank Chairman Tunde Lemo.
The probe, initiated by President Bola Tinubu, has unearthed shocking revelations, raising serious questions about the integrity of these individuals.
The report, spanning 234 pages and currently only available to President Tinubu, contradicts vehement denials from Emefiele, Mustapha, and Lemo.
It alleges Emefiele’s unauthorised placement of billions in foreign accounts, specifically £543,482,213 in UK banks, without CBN board approval.
Emefiele, recently released on bail amid a separate N1.2bn procurement fraud trial, faces potential criminal charges for his handling of the Naira redesign policy without due approval.
The investigation also accuses Mustapha of complicity in the fraudulent withdrawal of $6.23m from CBN vaults, purportedly for foreign election observers.
The Special Investigator claims to have CCTV footage capturing the illicit act, casting doubt on Mustapha’s denial. High-ranking CBN officials, including directors and branch controllers, are implicated and face recommended prosecution.
Lemo, previously adamant about the transparency of Titan Trust Bank’s acquisition of Union Bank, now confronts further questioning.
The report accuses Emefiele of using stolen funds to acquire Union Bank and Keystone Bank through proxies, with detained CBN officials providing startling revelations.
As the investigation intensifies, Titan Trust Bank’s Chairman and two foreign directors, Cornelius Vink and Rahul Savara, are summoned for a crucial meeting on December 28, Thursday.
Their alleged evasion of a prior invitation and failure to provide requested documents raises suspicions, leading the Special Investigator to warn of potential consequences, including forfeiture of purported shareholdings.
Meanwhile, a coalition of 259 anti-corruption groups, Coalition for Transparency and Economic Reforms (COTER), urges President Tinubu to ensure the immediate trial of all indicted individuals and the recovery of stolen funds.
COTER dismisses attempts by the accused to shift blame and calls for accountability.
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