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CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust - Business - Nairaland

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Titan Trust Bank Completes Takeover Of Union Bank / Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank / CBN Licences Titan Trust Bank, TAJ Bank And Globus Bank (2) (3) (4)

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CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by nlfpmod: 7:48pm On Jan 10
The Central Bank of Nigeria has, with immediate effect, sacked the entire Board of Directors governing Polaris, Titan, Union and Keystone Banks.

CBN sources say the decision was taken in a meeting led by the apex bank’s governor, Yemi Cardoso, on Wednesday in Abuja.

The source who pleaded anonymity, hinted that an official statement dissolving the board of directors will be sent 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 action follows the recommendation of the Special Investigator, Jim Obazee, appointed by President Bola Tinubu in July 2023, to probe the activities of the CBN and other relevant establishments.

The report of the special investigation into the activities of the CBN had accused the immediate past governor of the apex bank, Godwin Emefiele, of using ill-gotten wealth to acquire banks for himself through proxies.

The report stated that Emefiele used proxies to acquire Union Bank of Nigeria for Titan Trust Bank Limited and Keystone Bank without any evidence of payment.

As a result, it recommended that the Federal Government reverse the sale of the banks and take them over.

https://insidebusiness.ng/210072/cbn-sacks-boards-of-titan-trust-union-bank-keystone-bank-polaris/

33 Likes 5 Shares

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by insidelife22(m): 7:51pm On Jan 10
Normally Naija na crime scene

33 Likes 2 Shares

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by Itiskdg121(m): 7:52pm On Jan 10
Corruption everywhere.
Almost everyone in the country is corrupt.

64 Likes 4 Shares

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by AMAUCHESKY(m): 7:52pm On Jan 10
Bad character has made them lose their job...

Bad habit will slow down your good harvest..you need a councilor to help you cut off this bad habit. Contact me via my signature

9 Likes

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by specialmati(m): 7:53pm On Jan 10
grin grin grin grin grin grin permit me to laugh

10 Likes 1 Share

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by babaRUNtinz(m): 7:53pm On Jan 10
Sacking galore

19 Likes 1 Share

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by Harddiskng(m): 7:53pm On Jan 10
At the last Banker’s dinner, Cardoso promised to restore corporate governance and strengthen regulations. I am happy to see he is a man of his word.

The board of these banks would have been willing to pay him top dollar to sweep issues under the rug. Man like Cardoso 🫡🦾

🎵 on your mandate we shall stand 🇳🇬

95 Likes 3 Shares

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by Chicagograduate(m): 7:53pm On Jan 10
Forex fraudsters.They want to ban our opay that has been saving us from illegal debits and debit without crediting our accounts by these banks.

60 Likes 1 Share

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by Epstein(m): 7:53pm On Jan 10
cool

Rothschilds Bank

2 Likes

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by Faiththatworks(m): 7:53pm On Jan 10
Kaaaaaaaiiiiiiiiiiiiiiii.........
Asiwaju is really firing on all cylinders,I doff my heart to Mr Cardoso and the whole Economic Team of the President.
This was one of the comments I made on another thread about the leadership of our Former president and Mr Emi werey.
Despite all the rail guards to forestall any pilfering of resources in the CBN,the former president,baba Buhari was aloof and allowed the CBN governor run riot.
I believe Asiwaju should go the whole hog and go after politically exposed person in the former president tenure who put their hands in the cookie Jar, especially those who profited from the racketeering in the CBN.
Mr President is doing very very very well,this is the first time I have seen a president implement the recommendation of an investigative panel in quick time,many other Former presidents would have form committees to review the panel and eventually push the recommendation of the panel to the shelf to gather dust in the office of Mr Former Attorney-General.
I believe most of these panels and recommendations were used to blackmail political exposed persons that's why most of the recommendation were never implemented.
Pls this is just a speculation oooooo.
Asiwaju should please use this opportunity to revisit the recommendation of the Orosanye panel and the CONFAB recommendation under President Jonathan, I'm sure No one will go against him if he decides to implement it
God bless Nigeria.

57 Likes 3 Shares

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by YoungLionken(m): 7:53pm On Jan 10
Union bank, Keystone and others should sack CBN. Nor gree for anybody this year...

33 Likes 7 Shares

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by Akinboboz(m): 7:53pm On Jan 10
Ok nah.
Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by BarrElChapo(m): 7:53pm On Jan 10
My country my country 😁

2 Likes

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by OtunbaJ: 7:53pm On Jan 10
2024 is going to be interesting

18 Likes 1 Share

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by Aimwest(m): 7:53pm On Jan 10
What a country cool
Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by 0taPiaPia(m): 7:53pm On Jan 10
Is that enough undecided
Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by dareyking(m): 7:54pm On Jan 10
sad sad
Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by meedoLock(m): 7:55pm On Jan 10
We are into prob and sack era bayi!!!

6 Likes 1 Share

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by composure: 7:55pm On Jan 10
Goooooooooooooood

4 Likes 1 Share

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by Judolisco(m): 7:55pm On Jan 10
Dem go still carry Emefiele... There's no two ways about it

17 Likes

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by gift2xl: 7:55pm On Jan 10
Na normal levels, can't trust anyone in power.

2 Likes

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by MaxW11: 7:55pm On Jan 10
Fallout of the FX Scandal for sure. Swinging the axe Mr President! We will get it right eventually in Nigeria

21 Likes 2 Shares

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by baralatie(m): 7:56pm On Jan 10
😲😲😲😲😲
Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by tuborme: 7:56pm On Jan 10
Transparency is very important in regulation enforcement in order not to cause loss of confidence in the system

4 Likes 1 Share

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by princepeter566: 7:56pm On Jan 10
Cleaning buhari mess ain't gonna be easy

44 Likes 2 Shares

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by Johnson5258: 7:56pm On Jan 10
Wind has started blowing.

12 Likes

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by Chicagograduate(m): 7:57pm On Jan 10
princepeter566:
Cleaning buhari mess ain't gonna be easy
Without touching him.

9 Likes

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by sofeo(m): 7:57pm On Jan 10
Alright
Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by jlinkd78(m): 7:59pm On Jan 10
Seriously
Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by cenaman(m): 7:59pm On Jan 10
Way to go

2 Likes

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by Dbestbrest: 8:00pm On Jan 10
This country is gone to the dogs. Buhari really finished this country with the people he surrounded himself with. If the present government can develop the liver to probe all the ministers in Buhari's government, a lot of rots will be discovered and billions of dollars will be recovered

27 Likes 1 Share

Re: CBN Sacks Boards Of Union Bank, Keystone Bank, Polaris, Titan Trust by Dialpad: 8:00pm On Jan 10
Good job

5 Likes

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