The officials: the chairman of Titan Trust Bank (TTB),
Babatunde Lemo, the chairman of Tropical General Investments Group, Cornelius
Vink and the managing director of the group, Rahul Savara, made the pledge in a
reply sent to the Investigator, Jim Obazee, through their lawyers yesterday.
The head of operations, Office of the Special Investigator,
DCP Eloho Okpoziakpo, had in the letter dated December 23, 2923, asked the trio
to appear before the panel on December 28 at the Department of Force
Intelligence (DFI), opposite Nigeria Police Force Head-quarters Shehu Shagari
Way Area 11, Garki Abuja, without fail or excuse.
Okpoziakpo had also stated that the Investigative Panel
extended a fresh invitation to the three men to counter TTB’s allegation that
they were not given a fair hearing.
He also told them that if they failed to honour the
invitation, “it will be construed that they have decided to forfeit their
purported shareholdings in TTB and Union Bank of Nigeria, irrespective of which
vehicle they are using to own the purported shares.”
But in the letter signed by Prof. Gbolahan Elias (SAN) on
their behalf, the three men claimed that they would not be able to honour the
invitation because they are presently out of the country for family and other
reasons.
They, however, promised to make themselves available as soon
as they returned to Nigeria.
The letter reads: “We trust that this letter meets you well.
We are lawyers, too. Titan Trust Bank Ltd. (“TTB”) and Union Bank Plc (“Union”)
(the “Banks”). We respectfully have their instructions to write this letter
regarding the invitations in your letter to TTB dated December 23, 2023.
“Unfortunately, Mr Tunde Lemo and the two largest ultimate
investors in the Banks (Mr Cornelius Vink and Mr Rahul Savara) are currently
away from Nigeria for family and other reasons.
“That is typically so at this time of the year. They will
not be in Nigeria before the second week of January 2024. They will honour the
invitations entirely soon after they come in.
“About the information requested, which we submitted earlier
on September 1, 2023, at the DSS HQ as evidenced in Annex 1 therewith, we will
resubmit the information tomorrow morning for your kind review.
“The individual invitees and the Banks re-iterate their
willingness and readiness to cooperate with your good selves in your important
work.
Obazee had, in his report he recently submitted to President
Tinubu, alleged that some persons were used as proxies by a former CBN
Governor, Godwin Emefiele, to set up Titan Trust Bank and acquire Union Bank.
However, Union Bank had insisted that the acquisition of the
bank followed due process and met all regulatory requirements, including that
of the Securities and Exchange Commission and the Central Bank of Nigeria.
Maenwhile, the Special Investigator probing the activities
of the Central Bank of Nigeria (CBN) and Other Related Entities, Mr. Jim
Obazee, yesterday rejected an excuse by the Chairman of Titan Trust Bank
Limited, Mr. Tunde Lemo, and two others not to appear for interrogation today.
Obazee threatened to make a recommendation to the CBN to ask
the Federal Government to take over the two banks.
He accused Lemo and two others of alleged obstruction of his
assignment.
The other invitees are the two largest ultimate investors in
Titan Trust Bank Limited and Union Bank Plc, Mr. Cornelius Vink and Mr. Rahul
Savara.
The trio were given today’s deadline to explain how they
owned Titan Trust Bank and sourced $500million to acquire the Union Bank.
Barely 24 hours to their appearance before the Special
Investigator in Abuja, they wrote through their lawyer that they will not be
able to honour the invitation due to family reasons.
But the Special Investigator said their excuse was
untenable.
He also said that documents submitted through proxies shall
not be accepted.
Obazee alleged that Lemo was in the United Kingdom to
celebrate his birthday.
He faulted the three invitees in a December 27, 2023 letter,
through the Head of Operations, Office of the Special Investigator, DCP Eloho
Okpoziakpo.
The letter was addressed to Lemo through the Acting Managing
Director, Titan Trust Bank (TTB).
The letter reads in part: “Reference is made to the Law Firm
of G.ELIAS letter dated 27th December, 2023 in response to the Special
Investigator’s invitation to you via a letter with reference number
CR:3000/TSI/ABJ/VOL.1/69 dated 24th December, 2023 in respect of the above
subject.
“I am directed to inform you that 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 28 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
the shares to the Federal Government of Nigeria.
“Accordingly, this excuse given by your good selves through
your lawyers is unacceptable and regarded as obstruction of the Special
Investigator in the course of his duties.”
The Special Investigator said he shall not accept documents
submitted through proxies.
The letter added: “ 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 Department of State
Service (DSS) or anywhere else before now.
“In fact, 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 goodself will be required to speak to
whatever document(s)/information you present during the meeting.
“Consequently, I am to further inform you that your
invitation to appear before the Special Investigator on 28 December, 2023 by
2pm prompt in respect of the matter under investigation and for which you had
earlier made statement stands.
“Kindly note that the conditions on paragraphs 6 to 8 in our
earlier letter fo you with reference number CR:3000/TSI/ABJ/VOL. 1/69 dated
24th December 2023 remains effective and shall be triggered if you or Messrs
Vink and Savara fail to attend the meeting as scheduled.
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