Nigeria’s apex bank, the Central Bank of Nigeria has sacked with immediate effect the entire Board of Directors governing Polaris, Titan, Union and Keystone Banks.
The decision to sack the heads was taken in a meeting led by the CBN governor, Yemi Cardoso, on Wednesday in Abuja.
A source hinted that an official statement dissolving the board of directors will be sent shortly.
“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 source said.
The sack is coming on the heels off 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 special investigator report had accused the immediate past governor of the CBN, Godwin Emefiele, of using ill-gotten wealth to acquire banks for himself through proxies.
The report accused Emefiele of using proxies to acquire Union Bank of Nigeria for Titan Trust Bank Limited and Keystone Bank without any evidence of payment and thus recommended that the Federal Government reverse the sale of the banks and take them over.
