FG Will Reclaim Two Banks That Were Sold To Emefiele Without Authorization — CBN Investigator

Godwin Emefiele, former CBN Governor 

“Emefiele is a financial terrorist that should spend his time in kirikiri prison”

According to Jim Obazee, the investigator assigned by President Bola Ahmed Tinubu to look into the activities of the Central Bank of Nigeria (CBN), the government is about to take back two banks that were purportedly sold to Godwin Emefiele, a former governor of the CBN, illegally.

Obazee's conclusions state that Emefiele acquired Union Bank of Nigeria for Titan Trust Bank Limited and Keystone Bank using proxies without providing proof of payment.

President Tinubu received comprehensive reports from the investigator on Wednesday in two different letters dated December 20, 2023, regarding the acquisition of Union Bank and Keystone Bank.

This disclosure comes after Obazee's earlier findings that Emefiele allegedly concealed billions of naira in public funds across 593 bank accounts in the US, UK, and China without the board of directors of the apex bank and the CBN Investment Committee's consent.

Also, Emefiele approved a N22.7 trillion Ways and Means advance to the Federal Government without the necessary approval from former President Muhammadu Buhari, according to an interim report by Obazee submitted on December 9, 2023.

According to Obazee, “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.”

Read: Emefiele Operated 593 Illegal US, UK, China Accounts — CBN

Obazee was assigned by President Tinubu on July 28 to investigate the CBN in the wake of Emefiele's suspension. Emefiele was the governor of the apex bank from June 2014 to June 2023. Emefiele was given bail on November 22 in relation to N1.2 billion in procurement charges, but he is currently behind bars for not adhering to the terms of his release.