By Ken Afor
Babatunde Lemo, Chairman of Titan Trust Bank Limited’s request to reschedule the meeting with investigators from December 28, 2023, to January 7, was declined by the Office of the Special Central Bank of Nigeria Investigator.
The investigator cautioned that the nonattendance of Lemo and other prominent stakeholders of TTB at today’s (Thursday, December 28, 2023) scheduled meeting could result in the relinquishment of their ownership and stakes in Titan Trust Bank and Union Bank Nigeria Plc.
This trails a letter dated December 27, 2023, addressed to the TTB chairman as received, which contained the signature of Eloho Okpoziakpo, the Head of Operations at the Office of the Special Investigator. The letter was signed by Eloho Okpoziakpo, a Deputy Commissioner of Police.
The correspondence was a reply to a letter from Lemo’s attorney requesting a postponement of today’s meeting until January.
However, the investigator declined Lemo’s proposal, which suggested that Mr. Cornelius Vink and Rahul Savara, the major shareholders of Titan Trust Bank, be granted a seven-day period to substantiate their claimed ownership of TTB and Union Bank of Nigeria.
Failure to do so would result in the shares being surrendered to the federal government.
It would be recalled that in a letter dated December 24, 2023, Lemo, a former deputy governor of the CBN, was summoned by the Special Investigator, Jim Obazee, regarding the acquisition of Union Bank of Nigeria Plc by TTB.
The TTB chairman was instructed to appear at the Department of Force Intelligence, located opposite the Force headquarters on Shehu Shagari Way in Abuja, today (Thursday) by 2:00pm.
There, he will be questioned by a group of detectives who are investigating the Union Bank of Nigeria acquisition.
Lemo received additional instructions to accompany Vink and Savara for the meeting with the special investigators’ team.
According to Obazee’s investigative report, certain individuals were utilized as intermediaries by the ex-CBN governor, Godwin Emefiele, to establish Titan Trust Bank and obtain Union Bank, both through illicitly acquired funds.
However, Lemo, through a correspondence from his legal representative, G. Elias, dated December 27, appealed for a rescheduling of the appointment with the investigators due to his absence from Nigeria.
The letter, which was signed by Prof. Gbolahan Elias, SAN, read in part: “Unfortunately, both Mr. Tunde Lemo and the two largest ultimate investors in the banks (Mr. Cornelius Vink; Mr. Rahul Savara) are away from Nigeria at the moment for family and other reasons.
“That is typically so at this time of the year. They are not due to be in Nigeria before the second week in January 2024. They will honour the invitations fully soon after they come in.
“With regard to the information requested, which we submitted earlier on 1st September 2023 at the DSS HQ as evidenced in Annex 1 therewith, we will resubmit the information tomorrow morning for your kind review. The individual invitees and the Banks re-iterate their willingness and readiness to co-operate with your good selves in your important work.”
The investigator, however, declined the request to reschedule the meeting with the TTB major shareholders, stating that Lemo had previously confirmed his attendance for today’s meeting.
The letter noted, “Reference is made to the law firm of G.ELIAS letter dated 27th December 2023 in response to the Special Investigator’s invitation to you via a letter with reference number CR:3000/TSI/ABJ/VOL.1/69 dated 24th December 2023.
“I am directed to inform you that the Special Investigator is fully aware that you are in the United Kingdom to celebrate your birthday. This you made aware to the Special Investigator when you agreed to attend a meeting to be scheduled for 28th December 2023 and also proposed that Mr Cornelius Vink and Rahul Savara be given seven days to prove their purported ownership of Titan Trust Bank and Union Bank of Nigeria or forfeit the shares to the Federal Government of Nigeria.
“Accordingly, this excuse given by your good selves through your lawyers is unacceptable and regarded as obstruction of the Special Investigator in the course of his duties.
“We want to put it on record that neither you (Babatunde Lemo) nor Cornelius Vink nor Rahul Savara ever submitted any of these requested documents to the investigating team at the Department of State Service or anywhere else before now.
“In fact, Cornelius Vink and Rahul Savara have never presented themselves to the Special Investigator since 28th August 2023 when they were first invited for interview.’’
Details revealed that the Special Investigator notified the TTB chairman that documents submitted through proxies will not be accepted “as Mr. Cornelius Vink, Mr Rahul Savara and your good self will be required to speak to whatever document(s)/information you present during the meeting.”
‘’Consequently, I am to further inform you that your invitation to appear before the Special Investigator on 28th December 2023 by 2pm prompt, in respect of the matter under investigation and for which you had earlier made statement stands.
“Kindly note that the conditions on paragraphs 6 to 8 in our earlier letter to you with reference number CR:3000/TSI/ABJ/VOL. 1/69 dated 24th December 2023 remain effective and shall be triggered if you or Messrs Vink and Savara fail to attend the meeting as scheduled,” as stated in the letter.
It would be recalled that on December 20, Obazee, who was appointed as a special investigator in July 2023, presented his conclusive report titled ‘Report of the Special Investigation on CBN and Related Entities (Chargeable offences)’ to the Presidency.
Additionally, in two distinct reports concerning the acquisition of UBN and Keystone Bank, which were submitted to President Bola Tinubu on the same day, Obazee disclosed that Emefiele employed intermediaries to obtain Keystone Bank without any substantiated proof of payment.
