The Central Bank of Nigeria, CBN, has sacked the Union Bank, Titan Trust, Keystone Bank and Polaris Bank boards on Wednesday.
All four banks are involved in the special investigations into how the CBN was run under Godwin Emefiele.
A source at one affected bank who spoke with DAILY POST anonymously confirmed the development.
“It is true; I am sure the Central Bank of Nigeria will soon release a statement on the issue,” he said.
As of the report’s filing, the acting director of corporate communications at CBN, Hakama Sidi Ali, has not responded to the inquiry.
The CBN Act 2007 empowers it to approve and dismiss commercial banks’ boards.
The action follows the recommendation of the Special Investigator, Jim Obazee, appointed by President Bola Tinubu in July 2023, to probe the activities of the CBN and other relevant establishments.
The report stated that Emefiele used proxies to acquire Union Bank of Nigeria for Titan Trust Bank Limited and Keystone Bank without any evidence of payment.
He recommended that the federal government recover the banks.
News Update THE Minister of Power, Adebayo Adelabu, has announced his resignation from office to…
The Nigerian Senate has approved the request of President Bola Tinubu to go for external…
THE leadership of Ifedayo Local Government Area of Osun State on Tuesday commenced massive roads…
News Update Eight members of the House of Representatives from Kano State on Tuesday announced…
News Update President Bola Tinubu has requested the Senate’s approval to secure external loans totalling…
Hon. Ayodeji Ajayi the immediate past Federal Commissioner of the National Population Commission (NPC) representing…