The Special Central Bank of Nigeria Investigator has rejected a request by the Chairman of Titan Trust Bank Limited, Babatunde Lemo, for rescheduling a meeting with investigators, which is scheduled for today, December 28, 2023.
Lemo had requested the meeting to be rescheduled to January 7.
The letter, which was signed by Prof. Gbolahan Elias, SAN, read in part, “Unfortunately, both Mr Tunde Lemo and the two largest ultimate investors in the banks (Mr. Cornelius Vink; Mr. Rahul Savara) are away from Nigeria at the moment for family and other reasons.
“That is typically so at this time of the year. They are not due to be in Nigeria before the second week in January 2024. They will honour the invitations fully soon after they come in.
“With regard to the information requested, which we submitted earlier on 1st September 2023 at the DSS HQ as evidenced in Annex 1 therewith, we will resubmit the information tomorrow morning for your kind review. The individual invitees and the Banks re-iterate their willingness and readiness to co-operate with your good selves in your important work.”
According to the investigator, the failure of Lemo and other major shareholders of TTB to attend today’s meeting may lead to the forfeiture of their shareholding and interests in Titan Trust Bank and Union Bank Nigeria Plc.
The directive was contained in a letter to the TTB chairman dated December 27, 2023, and signed by the Head of Operations, Office of the Special Investigator, Eloho Okpoziakpo, a Deputy Commissioner of Police.
The letter was in response to a letter from Lemo’s lawyer seeking a shift of today’s meeting until January.
The special investigator, Jim Obazee, also rejected a proposal by Lemo that the major shareholders of Titan Trust Bank, Mr Cornelius Vink and Rahul Savara, should be given seven days to prove their purported ownership of TTB and Union Bank of Nigeria or forfeit the shares to the Federal Government.
Obazee had summoned Lemo, a former deputy governor of the Central Bank of Nigeria, in connection with the acquisition of Union Bank of Nigeria Plc by TTB.
The TTB chairman was directed to report to the Department of Force Intelligence opposite the Force headquarters, Shehu Shagari Way, Abuja, on Thursday.
Lemo was further instructed to come along with Vink and Savara to meet with the team of special investigators.
The letter added, ‘’Consequently, I am to further inform you that your invitation to appear before the Special Investigator on 28th December 2023 by 2pm prompt in respect of the matter under investigation and for which you had earlier made statement stands.
“Kindly note that the conditions on paragraphs 6 to 8 in our earlier letter to you with reference number CR:3000/TSI/ABJ/VOL. 1/69 dated 24th December 2023 remain effective and shall be triggered if you or Messrs Vink and Savara fail to attend the meeting as scheduled.”
Obazee stated in his investigation report that some persons were used as proxies by a former CBN governor, Godwin Emefiele, to set up Titan Trust Bank and acquire Union Bank, all from ill-gotten wealth.
Obazee was appointed special investigator in July 2023 by President Bola Tinubu. On December 20, he submitted his final report tagged, ‘Report of the Special Investigation on CBN and Related Entities (Chargeable offences)’ to the Presidency.
