Jim Obazee, the investigator from the Central Bank of Nigeria (CBN), has revealed that the government plans to reclaim two banks that were unlawfully sold to the former CBN governor, Godwin Emefiele.
According to Obazee’s findings, Emefiele used intermediaries to acquire Union Bank of Nigeria for Titan Trust Bank Limited and Keystone Bank without any proof of payment.
Obazee presented his investigation report to President Bola Tinubu, stating that Emefiele illicitly deposited billions of naira in public funds in various overseas bank accounts.
Additionally, Emefiele faced allegations of providing an unapproved N22.7 trillion Ways and Means advance to the Federal Government during the tenure of former President Muhammadu Buhari.
President Tinubu appointed Jim Obazee to investigate the CBN following the suspension of Emefiele, who served as the head of the apex bank from June 4, 2014, to June 9, 2023.
Currently, Emefiele is in prison for not meeting bail conditions after being granted bail by Justice Hamza Muazu on November 22 for N1.2 billion procurement charges.
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