GLITZ TV
The Central Bank of Nigeria has taken immediate action by removing the entire Board of Directors of Polaris, Titan, Union, and Keystone Banks.
According to sources from the CBN, the decision was made during a meeting led by the Governor of the apex bank, Yemi Cardoso, in Abuja on Wednesday.
The source, who spoke anonymously, indicated that an official statement dissolving the board of directors would be released soon.
The special investigation report into the CBN’s activities accused the former Governor, Godwin Emefiele, of personally acquiring banks through intermediaries.
The report revealed that Emefiele used intermediaries to acquire Union Bank of Nigeria for Titan Trust Bank Limited and Keystone Bank without providing any evidence of payment.
The source stated, “An official communication from the bank will be issued within the next hour. We are currently working on it, and an official statement will be released shortly.”
This action follows the recommendation of the Special Investigator, Jim Obazee, who was appointed by President Bola Tinubu in July 2023 to investigate the activities of the CBN and other relevant institutions.
As a result, the report recommended that the Federal Government reverse the sale of the banks and assume control over them.
Further details will be provided at a later time.
