Politics
BREAKING: Central Bank Investigator Rejects Titan Trust Bank Chairman’s Meeting Rescheduling Request, Warns Of Share Forfeiture (Full Details)
The Office of the Special Central Bank of Nigeria Investigator has declined the request of Titan Trust Bank Limited’s Chairman, Babatunde Lemo, to postpone the December 28, 2023, meeting with investigators until January 7. The investigator issued a stern warning that failure to attend the scheduled meeting may result in the forfeiture of Lemo’s and other major shareholders’ shares and interests in Titan Trust Bank and Union Bank Nigeria Plc….CONTINUE READING....KINDLY READ THE FULL STORY HERE▶
In a letter dated December 27, 2023, signed by Eloho Okpoziakpo, Deputy Commissioner of Police and Head of Operations at the Office of the Special Investigator, it was revealed that the proposal by Lemo for a seven-day extension for major shareholders to prove ownership was also rejected.
The investigation, initiated by Special Investigator Jim Obazee, centers around the acquisition of Union Bank of Nigeria Plc by Titan Trust Bank. Lemo, a former deputy governor of CBN, was summoned to the Department of Force Intelligence for questioning along with other top management of TTB.
Despite a letter from Lemo’s lawyer, Prof. Gbolahan Elias, SAN, requesting a meeting reschedule due to Lemo’s absence from Nigeria, the special investigator deemed it an obstruction of the investigation. The investigator emphasized that documents submitted through proxies would not be accepted, insisting that Lemo and other stakeholders must personally address the presented documents during the meeting.
The Special Investigator reminded Lemo that failure to attend the scheduled meeting could trigger consequences outlined in their earlier letter, including the potential forfeiture of shares. The developments come after the submission of the final investigation report by Jim Obazee, revealing irregularities in the acquisition of Union Bank and Keystone Bank and implicating former CBN governor Godwin Emefiele in using proxies for the acquisition without evidence of payment.
Isaac Fayose, younger brother of former Ekiti State Governor Ayodele Fayose, has described former Vice President Atiku Abubakar’s plan to contest the 2027 presidential election as selfish.....KINDLY READ THE FULL STORY HERE▶
His reaction follows Atiku’s recent interview on Arise Television, where the former Vice President said 2027 may be his last attempt to become Nigeria’s president.
In a post shared on social media, Fayose questioned Atiku’s decision to return to the ballot, arguing that it goes against current political expectations on power rotation.
He claimed that Atiku’s continued ambition would indirectly benefit President Bola Ahmed Tinubu, suggesting it could split opposition chances in 2027.
Fayose insisted that it is time for the South to complete its political cycle, adding that Atiku’s repeated bids for the presidency were unfair and out of step with current realities.
He further argued that Atiku’s participation in the race would strengthen Tinubu’s re-election prospects, describing the move as politically counterproductive for the opposition.
The African Democratic Congress (ADC) has dismissed reports that former Vice President Atiku Abubakar and former Secretary to the Government of the Federation Babachir Lawal were suspended by a faction of the party in Adamawa State.....KINDLY READ THE FULL STORY HERE▶
The party described the move as invalid, insisting that those behind the announcement lack the constitutional authority to suspend any member.
ADC National Publicity Secretary Bolaji Abdullahi said the purported suspension carries no legitimacy within the party structure.
He dismissed the claim, stating that the individuals who announced the suspension have no powers to take such disciplinary action.
The controversy followed a press briefing by a factional chairman in Adamawa, Raji Zumo, who announced the suspension of Atiku, Lawal, and transition committee chairman Sadiq Ibrahim over alleged anti-party activities.
Abdullahi, however, maintained that no member is above the party’s constitution, but stressed that due process must be followed in any disciplinary action.
The ADC is currently facing internal leadership disputes, with rival factions laying claim to control of the party amid ongoing legal and administrative battles.
A faction of the Labour Party (LP) led by the Nenadi Usman Caretaker Committee has suspended 26 members loyal to the Julius Abure-led faction.....KINDLY READ THE FULL STORY HERE▶
The decision was announced in a post on the faction’s official handle, following approval by its National Executive Council.
According to the statement, the affected members were sanctioned for allegedly aligning with a rival faction within the party.
The Nenadi-led committee said it derives its authority from a Supreme Court judgment delivered on April 4, 2025, which removed Julius Abure as National Chairman.
The judgment has continued to fuel a leadership tussle within the Labour Party.
Those suspended include several party figures said to be loyal to the Abure camp, with the faction publishing a full list of names.
The development marks another escalation in the ongoing internal crisis rocking the opposition party.
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