Nigeria Central Bank Sacks Titan Trust, Union Bank, Keystone Bank, Polaris Bank Boards

The Central Bank of Nigeria (CBN) has dissolved the board and management of Titan Trust Bank and three others, according to Inside Business.

This followed a report submitted to President Bola Tinubu by the Special Investigator on the Central Bank of Nigeria (CBN) and Related Entities, Jim Obazee.

According to Inside Business, the others affected are Union Bank, Polaris Bank and Keystone Bank.

It was reported that the decision to dissolve the boards was taken after a meeting between the CBN Governor, Yemi Cardoso, Obazee and the boards of the four banks including Titan Trust Bank’s investors who had earlier avoided meeting with the Special Investigator.

SaharaReporters reported in December 2023 that the office of the Special Investigator had insisted that the Chairman of Titan Trust Bank (TTB), Mr Tunde Lemo, Mr Cornelius Vink and Rahul Savara must appear before it over the acquisition of the Union Bank of Nigeria.
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