Special Central Bank of Nigeria Investigator, Jim Obazee, has firmly rejected the Chairman of Titan Trust Bank Limited, Babatunde Lemo’s plea to reschedule a crucial meeting with investigators.
The scheduled meeting, set for today, December 28, 2023, was sought by Lemo to be moved to January 7, citing the unavailability of key stakeholders, including himself and major investors Cornelius Vink and Rahul Savara.
In a letter signed by Prof. Gbolahan Elias, SAN, it was explained that Lemo and the primary investors are currently outside Nigeria for family and other reasons, with their return expected in the second week of January 2024.
The letter also emphasized their commitment to cooperation and willingness to provide requested information.
“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.
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The letter was in response to a letter from Lemo’s lawyer seeking a shift of today’s meeting until January.
Moreover, Obazee rejected Lemo’s proposal to grant seven days for Vink and Savara to prove their ownership of Titan Trust Bank and Union Bank or risk forfeiting the shares to the Federal Government.
Lemo, a former deputy governor of the Central Bank of Nigeria, was instructed to report to the Department of Force Intelligence in Abuja along with Vink and Savara.
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.”
The investigation, initiated by Bola Tinubu in July 2023, centers around the acquisition of Union Bank of Nigeria Plc by Titan Trust Bank.
Obazee’s final report, submitted on December 20, alleges the use of proxies by former CBN governor Godwin Emefiele to establish Titan Trust Bank and acquire Union Bank through ill-gotten wealth.