Alleged CBN Looting: Special Investigator talks tough as failure to answer invitation attracts loss of shares

The Central Bank of Nigeria, CBN, Special Investigator appointed by the federal government, Mr Jim Obazee, is talking tough over non-appearance by those invited for questioning over alleged looting in CBN.

The Special Investigator said non-appearance by anybody invited for questioning will attract consequences.

Indeed, indications are that the Chairman of Titan Trust Bank (TTB), Mr Tunde Lemo, and two foreign shareholders of TTB and Union Bank, Messrs Cornelius Vink and Rahul Savara, may lose their shares in the two banks if they shun Thursday’s invitation for interrogation by the CBN Central Special Investigator, Mr Obazee.

A letter from the Office of the Special Investigator, Head of Operations, Eloho Okpoziakpo, a Deputy Commissioner of Police (DCP), on Wednesday, warned Lemo, Vink and Savara to physically attend the meeting with Obazee as scheduled on Thursday afternoon or risk losing their investments in the two banks.

The letter indicated that the processes for the confiscation of the shares of the trio in TTB and UBN would be “triggered” if they failed to honour Thursday’s invitation.

Lemo is the Chairman of TTB, the two foreign businessmen, Vink and Savara, are the largest ultimate investors in both TTB and UBN.

The Special Investigator’s letter is in consequence of a letter of excuse from the law firm of G. Elias, lawyers to TTB and UBN, requesting the postponement of tomorrow’s scheduled meeting to the second week in January 2024.

The letter dated December 27 and signed by Prof Gbolahan Elias for the G. Elias law firm, had sought to inform the Special Investigator that Lemo, Vink and Savara would not be physically available to honour Thursday’s summon as they are all currently out of the country to attend to family and other matters and won’t return to Nigeria until the second week in the New Year.

The lawyers promised to submit another copy of the information requested by the Office of the Special Investigator on Thursday on behalf of the trio, adding that the law firm earlier submitted same documents on September 1,2023 at the Headquarters of the Department of State Services (DSS).

The lawyers reiterated their clients’ “willingness and readiness” to cooperate with the Special Investigator in carrying out his assignment.

But the Office of the Special Investigator in a swift response via a letter dated December 27, 2023, accused Lemo of obstructing the Special Investigator “in the course of his duties.”

The letter also said the Special Investigator is aware that Lemo travelled to the United Kingdom to celebrate his birthday and not for any serious matter.

The Special Investigator therefore rejected the excuse given by Lemo and the two foreign businessmen for their inability to honour Thursday’s summon, saying it’s unacceptable.

The Special Investigator’s office further said that neither Lemo nor any of the two foreign shareholders ever submitted any of the requested documents to the investigation team.

It further stated that none of the two foreign businessmen had ever presented himself to the Special Investigator since August 28, 2023, when they were first invited for interview.

The Special Investigator also informed Lemo that he would not accept the submission of the required documents by proxy as he and the two foreign businessmen would be required to personally defend such documents during the Thursday scheduled meeting.

The Special Investigator’s letter of reply to Lemo and the two foreign shareholders letter of excuse partly reads, “the Special Investigator is fully aware that you are in the United Kingdom to celebrate your birthday. This you made aware to the Special Investigator when you agreed to attend a meeting to be scheduled for 28th December 2023 and also proposed that Mr Cornelius Vink and Rahul Savara be given 7 (seven) days to prove their purported ownership of Titan Trust Bank and Union Bank of Nigeria or forfeit their shares to the Federal Government of Nigeria.

“Accordingly, the excuse given by your goodselves through your lawyers is unacceptable and regarded as obstruction of the Special Investigator in the course of his duties.

“We want to put it on record that neither you (Babatunde Lemo) nor Cornelius Vink nor Rahul Savara ever submitted any of these requested documents to the investigating team at the Department of State Services (DSS) or anywhere else before now. Infact, Cornelius Vink and Rahul Savara have never presented themselves to the Special Investigator since 28th August 2023 when they were first invited for interview.

“The Special Investigator also directs that you should be informed that documents submitted through proxies shall not be accepted as Mr Cornelius Vink, Mr Rahul Savara and your good self will be required to speak to whatever documents/information you present during the meeting.

“Consequently, I am to further inform you that your invitation to appear before the Special Investigator on 28th December by 2pm prompt in respect of the matter under investigation and for which you had earlier made statement stands.

“Kindly note that the condition on paragraph 6 to 8 in our earlier letter to you with reference number CR:3000/TS1/ABJ/Vol1/69 dated 24th December 2023 remains effective and shall be triggered if you or Messrs Vink and Savara fail to attend the meeting as scheduled.”

However, a coalition of 259 anti-corruption, civil society and human rights groups, Coalition for Transparency and Economic Reforms (COTER) has urged President Bola Tinubu to ensure that the matter involving Lemo and the two foreign businessmen is not swept under the carpet.

COTER, in a statement by its President, Dr Peter Chima Chukwu and General Secretary, Mallam Auta Ibrahim Koko, said it envisaged the plan by Lemo and the two foreign businessmen not to honour the invitation by the Special Investigator.

It stressed that the President must initiate moves to recover the country’s stolen funds and properties being held by all indicted persons.

The coalition restated its earlier call on President Tinubu to order the immediate handing over of all the indicted persons and entities to the anti-graft agencies for immediate trial.

COTER again warned the indicted persons to stop playing on the collective intelligence of Nigerians with their puerile defence of their looting of the nation’s commonwealth, having betrayed the confidence Nigerians reposed in them while they occupied public offices.

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