The private investigator appointed by President Bola Tinubu to probe the Central Bank of Nigeria (CBN) Jim Obazee has rejected a request by the chairman of Titan Trust Bank (TTB) Limited Tunde Lemo to reschedule the December 28, 2023, meeting with investigators till January 7.
In a letter to Mr Lemo dated December 27, 2023, and signed by the deputy commissioner of police Eloho Okpoziakpo, the investigator warned that the failure of Mr Lemo and other major shareholders of TTB to attend the meeting may lead to the forfeiture of their shareholding and interests in TTB and Union Bank Nigeria (UBN) Plc.
The investigator also turned down a proposal by Lemo that the major shareholders of TTB, Cornelius Vink and Rahul Savara, should be given seven days to prove their purported ownership of TTB and UBN or forfeit the shares to the Federal Government.
The letter said, “I am directed to inform you that the Special Investigator is fully aware that you are in the United Kingdom to celebrate your birthday. This you made aware to the Special Investigator when you agreed to attend a meeting to be scheduled for 28th December 2023 and also proposed that Mr Cornelius Vink and Rahul Savara be given seven days to prove their purported ownership of Titan Trust Bank and Union Bank of Nigeria or forfeit the shares to the Federal Government of Nigeria.
“Accordingly, this excuse given by your good selves through your lawyers is unacceptable and regarded as obstruction of the Special Investigator in the course of his duties.
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“We want to put it on record that neither you (Babatunde Lemo) nor Cornelius Vink nor Rahul Savara ever submitted any of these requested documents to the investigating team at the Department of State Service or anywhere else before now.
“In fact, Cornelius Vink and Rahul Savara have never presented themselves to the Special Investigator since 28th August 2023 when they were first invited for interview.”
The special investigator informed the TTB chairman that documents submitted through proxies will not be accepted “as Mr Cornelius Vink, Mr Rahul Savara and your good self will be required to speak to whatever document(s)/information you present during the meeting.”
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 had summoned Lemo, a former deputy governor of the Central Bank of Nigeria, in connection with the acquisition of UBN.
In 2021, TTB acquired major stake in UBN. The takeover was completed the following year.
Obazee, in his report, alleged that some persons were used as proxies by a former CBN governor, Godwin Emefiele, to set up TTB and acquire UBN.
He also alleged that Emefiele used proxies to acquire Keystone Bank without evidence of payment.
