The Central Bank of Nigeria Governor, Godwin Emefiele; the President of African Export-Import Bank (Afreximbank), Prof. Benedict Oramah; among others are currently under investigation over the $300million the pan-African multilateral financial institution gave to Titan Trust Bank Limited to acquire 93.4 per cent stake in the Union Bank of Nigeria Plc.
Others being investigated are; Aminu Yaro, a Northern business mogul and one Farouk Gumel.
Sources told SaharaReporters that the Economic and Financial Crimes Commission (EFCC), the Department of State Services (DSS), the Independent Corrupt Practices and other related offences Commission (ICPC) and the Nigerian Financial Intelligence Unit (NFIU) are all investigating Oramah, Emefiele and others.
“EFCC, DSS and NFIU are currently investigating Oramah over the loan given to Titan bank. Why the loan to Emefiele and others political exposed person? Though we believe nothing will happen to him because of his closeness to Mamman Daura. He just bought a house for Mamman Daura at George street, off Edgware road in London,” a senior intelligence officer told SaharaReporters.
On June 6 2022, Afreximbank announced that it had disbursed the sum of $300 million to help complement the total amount needed by Titan Trust Bank to finalise the acquisition of Union Bank.
It noted that the said fund was disbursed under its Intra-African Investment Financing Facility.
However, the source linked the ownership of the controversial Titan Trust Bank to Emefiele.
