The Central Bank of Nigeria has sacked the entire Board of Directors of Polaris, Titan, Union and Keystone Banks.
The banks were allegedly acquired via proxies without payment by embattled CBN ex-governor, Godwin Emefiele, the Special Investigator, Jim Obazee, appointed by President Bola Tinubu in July 2023, to probe the activities of the CBN under him, said in his report.
The decision was taken in a meeting led by the apex bank’s governor, Yemi Cardoso in Abuja on Wednesday, a CBN source told the Punch.
The source, who spoke on condition of anonymity, hinted that an official statement dissolving the board of directors will be released shortly.
The source said, “In the next hour, there is going to be official communication from the bank. We are working on it and an official statement will be sent soon.”
The report of the special investigation into the activities of the CBN under Emefiele had accused the immediate past governor of the apex bank of acquiring banks for himself through proxies.
The report stated that Emefiele used proxies to acquire Union Bank of Nigeria, Titan Trust Bank Limited and Keystone Bank without any evidence of payment.
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