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CBN Governor, Emefiele, Afreximbank President, Oramah, Others Under EFCC, NFIU Investigations Over $300million Paid To Acquire Union Bank

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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.

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 Sahare Repoter 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.

The bank was established on the 12th of December, 2018 and started operating fully as a commercial national bank after obtaining its National Banking license on the 26th of April, 2019.

In 2019, it recorded a profit of N644 million, and in 2020, its after-tax profit rose to N2.9 billion.

However, the 2021 audited financial statement of the bank showed it now worth over N3trillion with only two active offices in Lagos.

“Isn’t it magical that Titan Trust Bank, a small bank with only two bank branches in Lagos swallowed up Union Bank, a 104-year-old bank, in a transaction valued in the region of over $1 billion dollars?

“The President of Afrexim bank, Oramah, Emefiele, Yaro and others are friends.

“If you need dollar from CBN today, go through Uba Sanni, the Kaduna APC gubernatorial candidate, Sabiu Tunde or Aminu Yaro. This same Aminu Yaro is one of the shareholders of Titan Bank. He owns 9.07 per cent of Titan Trust’s 58.4 million ordinary shares. His wife works with CBN too.

Don’t forget this same Titan bank just bought Union Bank, We all know Emefiele is the actual owner of it, even though he is using Tropical General Investments Limited (TGI) as front.

“Afrexim is aware that Emefiele, Yaro, and Farouk Gumel are political exposed people, yet granted them loan of such amount to buy Union bank,” the source told SaharaReporters.

Another source added, “Are you aware Titan Trust Bank’s National Banking Licence is the first that the CBN has granted in the last ten years? Are you aware Emefiele is also among the highest shareholders in Union Bank Plc?”

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Breaking: Lagos Assembly Passes Victim, Witnesses Protection Bill

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The Lagos State House of Assembly on Thursday passed a bill to protect witnesses and victims in the state.

The ‘bill for a law to provide for the rights and entitlements of victims and protection of witnesses and for connected purposes’ was passed during plenary presided over by the Speaker of the House, Rt. Hon. (Dr.) Mudashiru Obasa.

The bill stipulates provision of assistance and protection to victims and witnesses who have vital information that could help ensure effective prosecution of cases, but who face intimidation due to their cooperation with the prosecution or law enforcement agencies.

A part of the bill further states: “Every person, including security agents shall render assistance to victims of accidents or crimes and ensure that such persons are taken to the nearest hospital for immediate
care and treatment.

“A public or private hospital shall provide immediate and adequate treatment to an accident victim or any person with gunshot and severe injuries or wounds.”

It stipulates a fine for any medical facility that fails to comply with the related section of the bill.

“A private hospital that receives accident victims with severe injuries or wounds for treatment under this section must inform the agency within Forty-Eight (48) hours of his admission, and forward a request for reimbursement of medical expenses where family members or relations cannot be identified or where the victim is indigent, and subject to the approval of the request by the agency, it shall forward records of the treatment to the agency,” the bill states.

With the bill scaling a third reading during plenary, the Speaker directed the Clerk of the House, Barr. Olalekan Onafeko, to send a clean copy to the Governor, Mr. Babajide Sanwo-Olu, for his assent.

Eromosele Ebhomele
Chief Press Secretary to the Speaker of the Lagos State House of Assembly8

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Obasa to Remi Tinubu At 62: Your Roles In Nigeria’s Democracy Are Indelible

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ObasaThe Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, has congratulated Senator Oluremi Tinubu on her 62nd birthday.

Dr. Obasa, in a statement by Eromosele Ebhomele, his Chief Press Secretary, described the former First Lady of Lagos as one whose love for Nigeria and roles in national unity and development are worthy of emulation by every well-meaning citizen.

The Speaker added that Senator Tinubu has continued to etch her name in the history of Nigeria as a politician of repute, a champion of the downtrodden and an advocate for the youth, the aged and good governance.

He noted Senator Tinubu’s passion for a greater Nigeria both as a crusader for a more vibrant democracy and as a serving member of the National Assembly.

“As the loving wife of our dear leader and presidential candidate, Asiwaju Bola Ahmed Tinubu, you have been a major pillar of support and progress.

“That Nigeria practises democracy today is partly as a result of the roles you played while the military held on the the government of the country. History is replete with how you worked tirelessly against the annulment of the June 12, 1993 presidential election result won by Chief MKO Abiola and how you took care of many exiled members of the National Democratic Coalition and citizens of Nigeria who were at the time under the radar.

“As First Lady of Lagos State, your love for the education of the underprivileged in the society and the need to raise standards gave birth to your pet project, The Spelling Bee Competion, which, delightedly, has produced great minds and future leaders.

“Lagos is blessed with you and we are happy that you have remained a major support for the growth and development of our State. You have also remained a mentor to many Nigerians whose lives you have touched with your New Era Foundation and various scholarship programmes.

“On behalf of my family and members of the legislative arm of Lagos government, I congratulate you on your birthday and pray that God continue to bless you with good health, strength and divine capacity ahead of the bigger task before us all, amen,” Obasa prayed.

Eromosele Ebhomele
Chief Press Secretary to the Speaker of the Lagos State House of Assembly.

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Queen Elizabeth: Lagos Assembly Wants More For Nigerian Traditional Rulers

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The Lagos State House of Assembly has called on the government to improve the honour given first-class and prominent traditional rulers before and after their death.

This motion followed a Matter of Urgent Public Importance raised by the lawmaker representing Mushin Constituency 2, Hon. Olawale Abdulsobur Olayiwola, during on plenary on Monday.

Referring to the celebration that accompanied the burial ceremony of Queen Elizabeth II of England, Hon. Olayiwola observed that traditional rulers in Nigeria are never given adequate honour and recognition before and after their death.

In his comment, the Speaker of the House, Rt. Hon. Mudashiru Ajayi Obasa emphasised that while it might not be easy to honour all the traditional rulers in the state, first-class royal fathers should be celebrated.

The Speaker said that he shared the idea of celebrating those who make up the traditional institution adding: “We should learn how to elevate our own. If foreigners are coming to celebrate us through their documentaries, we should think deeply about celebrating ourselves too.

“The Ministry of Local Government and Community Affairs should fashion out how best our Obas should be celebrated.

“Occupiers of recognised thrones that have been in existence for many years should be celebrated,” he said.

Earlier in his argument, Olayiwola had said: “Queen Elizabeth II left after over 70 years on the throne and the burial was attended by a delegation from Nigeria led by Vice President Yemi Osinbajo.

“But here in Nigeria, we don’t celebrate our traditional rulers in death. An example was when the former Alaafin of Oyo, Oba Lamidi Adeyemi, joined his ancestors recently. He was not celebrated as he should,” he lamented.

Olayiwola, Chairman of the House Committee on Local Government and Community Affairs, called on the Lagos State Ministry of Local Government and Community Affairs to celebrate the traditional rulers in the state while they are alive and during their demise.

This was accepted by all the lawmakers at plenary.

Eromosele Ebhomele
Chief Press Secretary to the Speaker of the Lagos State House of Assembly.

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