The Central Bank of Nigeria (CBN) has sacked the Boards of Directors of Union, Keystone, Polaris, and Titan Banks.
The boards dissolution is with immediate effect.
Sources at the apex bank told The Star that the decision to sack the boards was taken at a meeting chaired by Governor Yemi Cardoso on Wednesday in Abuja.
The management and boards of the affected four banks and the CBN Special Investigator were in attendance.
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The official communication from the CBN is still being awaited.
The development was consequent upon the recommendation of the Special Investigator, Jim Obazee, appointed by President Bola Tinubu to probe CBN activities.
The report had indicted the immediate past governor of CBN, Godwin Emefiele, of using cronies to purchase some of the banks without evidence of payment.
Also, Obazee said the purchase of some of the banks didn’t follow due process.
Details shortly…
