By Tambaya Julius, Abuja
President Bola Tinubu initiates the implementation of the Jim Obazee-led Special Investigation team’s recommendations, directing CBN Governor Yemi Cardoso to dismiss the managements and dissolve the Boards of Union Bank, Titan Trust Bank, Polaris, and Keystone Bank.
Following the Presidential directive, an emergency meeting at CBN results in the immediate withdrawal of operating licenses and dissolution of Boards for the mentioned banks.
The Federal Government takes control, merging Union Bank with Titan Trust Bank and Polaris with Keystone Bank. Emerging entities are speculated to be named Nigeria National Bank and National Bank of Nigeria.
The final report, accusing the former CBN governor Godwin Emefiele of acquiring Union Bank and Keystone Bank with stolen funds through proxies, led to the recent actions.
Despite transparency claims by TTB Chairman Tunde Lemo and major shareholders, the Special Investigator’s warnings were met with non-compliance.
COTER, a coalition of anti-corruption, civil society, and human rights groups, applauds President Tinubu’s resolve and recommends a special national honour for Special Investigator Jim Obazee.
Recognizing his selfless dedication despite threats, COTER urges Nigeria to retain Obazee for crucial national assignments.
