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FG ‘ll recover 2 Banks Illegally Sold to Emefiele – CBN Investigator

December 23, 2023 • 1 min read

Jim Obazee, the investigator of 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 of public funds in various overseas bank accounts.