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Probe into $500m Union Bank acquisition widens as Special Investigator invites ex-CBN dep gov, others

Published

3 years ago

December 26, 2023

Probe into $500m Union Bank acquisition widens as Special Investigator invites ex-CBN dep gov, others

The dust over the probe of Central Bank of Nigeria (CBN) is yet to settle.

Titan Trust Bank Chairman, Mr. Babatunde Lemo, and two others have been invited by the Special Investigator on CBN, Mr. Jim Osayande Obazee.

The other invited shareholders are Mr. Cornelius Vink and Mr. Raul Savara.

Lemo, who was CBN deputy governor between 2004 and 2014, is expected to appear with the shareholders for further grilling on Thursday.

It was learnt that the big stick might be wielded should those invited fail to honour the invitation to enable the investigator to unravel other details on the $ 500 million acquisition of Union Bank by Titan Trust Bank (TTB).

A conglomerate, the Tropical General Investment Group (TGI), on Sunday, said the USD500 million capital used to pay for the transaction was transparent and unimpeachable.

TGI insisted that it is the majority owner of TTB and Union Banks.

Obazee and his team of crack detectives alleged that their findings proved otherwise.

In a report to President Bola Ahmed Tinubu, the Investigator alleged that the two banks were owned and bought by the proxies of the former CBN Governor, Mr. Godwin Emefiele, who has denied the claim.

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But attempts by the investigators to interact with the Chairman of TGI, Vink, since August have not succeeded.

TGI said Vink, who has been in Nigeria since 1978, is an elderly person and has recently been medically advised to limit his movement.

The Special Investigator insisted that since TGI assured his team that the two shareholders would “soon” honour the invitation, it was time for them to come for interaction.

In a December 24 letter, the Special Investigator asked Lemo and the two others to appear before his team on Thursday.

The letter, titled: RE: CBN INVESTIGATION ACTIVITIES INVITATION FOR A FOLLOW-UP MEETING WITH THE SPECIAL INVESTIGATOR, said Obazee has not heard from the two shareholders or received the requested documents from them.

The letter was signed by the Head of Operations, Office of the Special Investigator, Eloho Okpoziakpo, a deputy commissioner of police (DCP).

The letter, which was addressed to Lemo, reads in part: “Please refer to your discussion with the Special Investigator earlier today regarding the offensive defence that your good self-issued in Punch newspapers, on behalf of TTB which you chair, as well as the email you sent to the Special Investigator today wherein you tried to provide clarification on your reaction to the report on TTB.

“The defence seems contrary to the statements, made under caution, by the persons connected with these transactions, including your good self, before the Special Investigator at the Department of State Service (DSS) in August.

“In the said newspapers, you referred to both Cornelius Vink and Rahul Savara as ‘prominent global entrepreneurs and having thriving businesses in Nigeria.’

“In your email as well as your earlier discussion with the Special Investigator, you suggested that both of them be invited to provide clarification on their share ownership and given seven days to make such clarification; failure which they will forfeit their shares to the Federal Government of Nigeria.

“We are surprised at your request with regard to these two shareholders. They were given this opportunity via a letter to them dated 28th August 2023.

“Instead of honouring the invitation and providing the requested documents, we received a letter from the Company Secretary of Union Bank, Somuyiwa Sonubi, dated 15 September 2023, informing the Special Investigator that Mr. Cornelius Vink was out of the country on medical grounds and that both ‘Messrs Vink and Savara will be available for the meeting as soon as they are in Nigeria which will be soon’.

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“Up until this offensive defence that you put in the public domain, the Special Investigator has neither heard from them nor received the requested documents.”

Obazee said he and his team have decided to give a timeline for Lemo and others to come for interaction.

The letter added: “Accordingly, you are hereby invited to come along with Messrs Cornelius Vink and Mr. Rahul Savara to meet with the team of Special Investigators by 2pm on 28th December 2023 without fail or excuse.

“Please inform them to come along with all the documents /information requested from them by the letter to Mr. Cornelius Vink dated 28th August 2023.

“You will also be required to make additional statements to your earlier statement on that day.”

The Special Investigator said if Vink and Savara refused to honour the committee’s investigation, they may forfeit their shares in the Titan Trust Bank and Union Bank.

The letter said: “Kindly note that if Messrs Cornelius Vink and Rahul Savara refuse to attend this meeting and provide/defend the requested documents /information, it will be construed that they have decided to forfeit the purported shareholdings in TTB and Union Bank of Nigeria, irrespective of which vehicle that they are using to own the purported shares.

“Should you also refuse to attend the meeting to provide additional statement to your earlier statement made in August 2023, it will be construed that you misled the Nigerian public with your reaction in The Punch Newspapers today which has gained wide publicity in both electronic and print media.

“This invitation is to further ensure that it is beyond reasonable doubt that the Federal Government of Nigeria has given you a fair hearing.”

Earlier in a 28th August 2023 letter to Vink and the Managing Directors of Titan Trust Bank and the Union Bank, the Special Investigator made a seven-point demand from them.

In the letter, signed by Dr.Ojogbe Rueben U, some of these requests included the documentation on the licensing of Titan Trust Bank, minutes of Board meetings and foreign exchange dealings transacted with the CBN.

The August letter read in part: “The Federal Government of Nigeria is currently investigating some activities of the CBN and Related Entities as well as some key Government Business Entities (GBEs).

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“The investigation is led by a ‘Special Investigator’ appointed by the President, Federal Republic of Nigeria. They have since commenced the assignment.

“To this end, kindly avail the Special Investigator with the under-listed documents/ information:

“The details of the under-listed entities which should include company registration, ownership, shareholding structure, profile, particulars of directors and related entities:

· Luxis International DMCC, Unit 1141, DMCC Business Centre, Level No. 1, Jewellry & Gemplex 3, Dubai, UAE (Magna).

· Magna International DMCC, Unit 1024, DMCC Business Centre, Level No.1, Jewellry & Gemplex 3, Dubai, UAE Magna.

“Further details of the said companies should include the documentation that led to the licensing of Titan Trust Bank and the acquisition of controlling shareholding of Union Bank of Nigeria by these entities, proof of funds, internationally verifiable bank statements (from the incorporation of the entities to date) and the shareholder that gave interest-free loans to the two entities separately (names, nationality, source of the fund, proof of such funds, bank statements as well as the relationship of the entities with Mr. Andrew Chukwudi Ojei, Jerome Olagunju Shogbon, Rahul Savara, Winston Odeh, Adaeze Udensi, Ekene Samuel Louis, Godwin Emefiele, Macombo Omoile, Tunde Lemo, Mudassir Amry, Faruk Gumel, Oluremi Oni, Vink Corporation Middle East FCZ (together with the details of the shareholder that also gave Vink Corporation interest-free loan) and your good self.”

Other demands were:

· Details of how Trust receipts (from Standard Chartered Bank), Zenith Nigeria Plc and Zenith Bank (UK) were involved in the entire arrangement.

· Minutes of the Board meetings, copy of the audited financial statements and management letter that arose from the Audit of the financial statements of the two entities listed in (1) above as well as those of TTB and UBN from 2018 to date.

· Details of any forbearance received from the CBN for UBN (before acquisition by TTB) and why. “Should you not know, please come along with anyone who knows about it (with evidence).”

· Details of the loan capital from Afrexim Bank (Egypt), collaterals thereto and the involvement of the CBN in the entire arrangement.

· Any Foreign Exchange dealings that transacted with the CBN as a retail or wholesale facilitator with TGI, TTB, UBN, Luxis, Magna and other related entities no matter how remotely connected.

· Any other document(s) that can assist the Special investigator in arriving at an informed decision on the investigation of TTB, UBN, CBN and any person(s) of interest in the entire arrangement.

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“You are to come along with Mr. Rahul Savara (in person) along with the requested documents to the National Headquarters of the Department of State Services (DSS) in Abuja by 4pm on Friday, 1st September 2023 for interaction in connection with this investigation. Accept the assurances of the utmost regards of the Special Investigator.”

The Investigator also showed that he gave the Union Bank of Nigeria ample time to prevail on Vink to appear before it.

He said although the bank complained of a “short notice period,” it said “Messrs. Vink and Savara will be available for the meeting as soon as they are in Nigeria.”

The bank’s response was contained in a September 1st, 2023 letter to the Special Investigator by the Company Secretary of the Union Bank of Nigeria, Mr. Somuyiwa Sonubi.

It said due to Vink’s medical condition, he was unable to make the appointment as proposed.

The letter was titled “CBN INVESTIGATION ACTIVITIES: INVITATION FOR A MEETING WITH THE SPECIAL INVESTIGATOR.”

The letter said: “We write in response to your letter dated 28″ August 2023 on the above subject matter and to submit the documents/information requested in printed and electronic formats for ease of your review and analysis.

“Furthermore, and with all due respect to your office, we wish to inform you that Mr. Cornelius Vink is currently out of the country on medical grounds.

“Given the short notice period in the said letter and Mr. Vink’s medical condition, he is unable to make the appointment as proposed and craves your indulgence in this regard.

“Please find attached copies of Mr. Vink’s medical report for your kind review. Messrs. Vink and Savara will be available for the meeting as soon as they are in Nigeria which we hope will be soon.

“Mr. Vink sends his sincere apologies in this regard, whilst assuring you of his commitment to support your mandate. Please accept the assurances of our highest regards.”

Probe into $500m Union Bank acquisition widens as Special Investigator invites ex-CBN dep gov, others

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Two Arrested for Smoking on Air Peace Flight from South Africa – Police

Published

2 hours ago

July 10, 2026

Trends Admin

Two Arrested for Smoking on Air Peace Flight from South Africa – Police

The Lagos Airport Police Command has concluded plans to arraign two passengers accused of smoking and engaging in unruly conduct onboard an Air Peace flight from South Africa to Lagos, an incident that allegedly triggered the aircraft’s emergency smoke alarm and caused panic among passengers and crew. The command disclosed this in a statement issued on Friday by its spokesperson, ASP Mohammed Adeola, identifying the suspects as 51-year-old Enaruna Prince Aghama and 43-year-old Tony Ajayi. According to the police, Aviation Security (AVSEC) personnel handed the two men over to officers at the International Airport Police Division after the aircraft landed at the Murtala Muhammed International Airport (MMIA), Ikeja, for investigation, setting the stage for what could be a landmark prosecution of aviation safety violations in Nigeria.

Preliminary findings indicated that the incident occurred at about 7:44 p.m. on Thursday, July 9, 2026, while the aircraft was en route to Lagos. “Preliminary investigation revealed that at about 1944hrs on 9th July, 2026, while aboard an Air Peace flight from South Africa to Lagos, the suspects lit and smoked cigarettes inside the aircraft, an action which activated the aircraft’s smoke detection and emergency alarm system, causing panic and anxiety among passengers and cabin crew,” the statement read. The activation of the smoke alarm forced the crew to investigate and take action to ensure the safety of all onboard, creating a tense atmosphere as passengers became aware of the potential threat.

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Police further stated that investigators found the suspects were in possession of an alcoholic beverage and allegedly refused to cooperate with cabin crew members who attempted to enforce safety regulations. The statement added that the pair “became uncooperative and verbally aggressive when cabin crew members attempted to de-escalate the situation and enforce established safety regulations, thereby further disrupting the orderly conduct of the flight”. The suspects’ refusal to comply with crew instructions reportedly escalated the situation, requiring additional intervention from the flight crew to prevent further disruption.

The suspects were reportedly part of a group of Nigerians evacuated from South Africa amid ongoing tensions over xenophobic attacks. Their conduct, however, has drawn sharp condemnation from aviation authorities, who have made it clear that such behavior will not be tolerated regardless of the circumstances. Reacting to the development, the Commissioner of Police, Airport Command, CP Ogunbode Olufunke, condemned the alleged actions of the passengers, describing them as a threat to aviation safety. “Any act capable of compromising aviation safety or disrupting the orderly operation of an aircraft is unacceptable,” she said, underscoring the seriousness with which authorities view such violations.

Olufunke added that the command “remains committed to the strict enforcement of aviation security laws and the protection of the lives of passengers, crew members, and all airport users”. She also appealed to air travellers to comply with lawful instructions issued by airline operators and aviation officials, stressing that “maintaining discipline and orderly conduct aboard aircraft is a shared responsibility essential to safe air travel”. The police said the suspects would be arraigned before a court of competent jurisdiction upon the conclusion of the ongoing investigation, with authorities signaling that a strong message would be sent to deter others from similar conduct in the future.

Two Arrested for Smoking on Air Peace Flight from South Africa – Police

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“I Just Learned I Filed for Divorce” – Nnamdi Kanu’s Wife Breaks Silence

Published

3 hours ago

July 10, 2026

Trends Admin

“I Just Learned I Filed for Divorce” – Nnamdi Kanu’s Wife Breaks Silence

Uchechi Okwu-Kanu, wife of the detained leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, has refuted reports alleging that she has initiated divorce proceedings against her husband, describing the claims as “entirely false” and “misinformation”. In a statement shared on her verified X account on Friday, Okwu-Kanu said she was compelled to respond following the circulation of what she described as false online reports claiming that she had filed for divorce. She wrote: “For the avoidance of doubt, I have not filed for divorce. The publication is entirely false and should be treated as misinformation”. Reacting to the rumours with a mixture of humour and dismissal, she posted on X: “Good conscious evening, my blessed Biafrans. I have just learned that I filed for Divorce while my husband is in prison”. The post, which included laughing emojis, appeared to mock the online reports that had claimed she filed for divorce following years of alleged infidelity, financial neglect, and family interference.

Okwu-Kanu lamented the spread of unverified stories about her family, saying it was disturbing that some individuals continued to circulate fabricated information without confirming the facts. According to her, such actions “undermine responsible journalism”. She also appealed to members of the public to obtain information concerning her only from her or through her authorised representatives, and expressed appreciation to those who reached out to verify the reports before sharing them. Her response has been widely shared across social media platforms, with many of her followers commending her for addressing the rumours directly and with dignity.

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Nnamdi Kanu and Uchechi Okwu-Kanu were married in 2009. The IPOB leader is currently serving a life sentence at the Sokoto Custodial Centre after being convicted on terrorism-related charges by Justice James Omotosho of the Federal High Court in Abuja in November 2025. The court found him guilty on all seven counts, sentencing him to life imprisonment on five counts, 20 years on one count and five years on another, with the sentences ordered to run concurrently. The conviction has attracted widespread attention both within Nigeria and internationally, with human rights groups and political figures expressing concerns about the trial and the conditions of his detention.

Kanu has since challenged the judgment, filing a notice of appeal before the Court of Appeal on February 4, 2026, seeking to overturn both his conviction and sentence. The appeal, which contains 22 grounds, alleges fundamental legal errors and a miscarriage of justice. Among the grounds, Kanu contends that the trial court delivered judgment while a preliminary objection challenging the competence of the charge and his bail application remained pending, and that he was convicted under a law that had been repealed. The appeal process is ongoing, and legal observers are closely watching to see whether the appellate court will grant Kanu’s request for a new trial or uphold the lower court’s decision.

“I Just Learned I Filed for Divorce” – Nnamdi Kanu’s Wife Breaks Silence

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NIS Releases Step-by-Step Guide for Contactless Passport Renewal Abroad

Published

3 hours ago

July 10, 2026

Trends Admin

NIS Releases Step-by-Step Guide for Contactless Passport Renewal Abroad

The Nigeria Immigration Service (NIS) has released an updated step-by-step guide to help Nigerians living abroad renew their passports through its Contactless Passport Application System, eliminating the need to visit an embassy or high commission for biometric enrolment. The Service announced the update on its official X account, encouraging eligible Nigerians in the diaspora to take advantage of the digital platform, which simplifies passport renewal and reduces administrative barriers. The initiative is part of the Federal Government’s ongoing efforts to digitise passport services, reduce processing delays, and improve access for Nigerians in the diaspora. Since its launch, the Contactless Biometric Passport Application System has successfully processed and issued over 15,000 passports to Nigerians abroad.

Application Process

According to the NIS, applicants are required to follow the steps below:

Visit the official NIS Passport Application portal
Click “Continue” from the pop-up window
Select “Apply for Renewal/Re-issue”
Create an account and verify identity using National Identification Number (NIN) and date of birth
Complete the application form and choose the preferred Nigerian embassy or high commission for processing
Upload all required supporting documents
Pay the passport booklet fee
Obtain the Application ID and Reference Number
Select the “Contactless” option under the “Application Status/Book Appointment” section
Review the instructions and click “I Understand and Opt In”
Download the NIS Mobile App from the Google Play Store or Apple App Store
Sign in or create a profile on the app
Select “Passport Application Services” , then “Passport Biometrics Enrolment”
Enter the Application ID and Reference Number to check eligibility
If eligible, proceed with facial image capture, fingerprint enrolment, and liveness verification
Pay the contactless enrolment fee and submit biometric data electronically

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Eligibility and Exceptions

The contactless option is not available to all applicants. The NIS clarified that applicants who are declared ineligible during verification will be required to return to the application portal and schedule a physical appointment at their chosen embassy or high commission. According to the Service, an “INELIGIBLE” response means the applicant must complete the remaining process in person at the designated diplomatic mission. Those eligible for contactless renewal include Nigerians between 18 and 60 years, applicants with not more than six months to the expiration of their current passports, and those applying for re-issuance of existing passports.

Supporting Documents Still Required

Applicants who successfully complete remote biometric enrolment must still send the required documents to their selected processing mission. These include the printed application form, passport booklet payment receipt, biometric enrolment payment receipt, current passport, and a self-addressed return envelope.

Application Tracking

The NIS added that applicants can begin tracking their passport applications two weeks after submission through the online tracking platform at https://track.immigration.gov.ng or via the NIS Mobile App.

Technical Support

The NIS has acknowledged recent technical challenges encountered by some Nigerians in the diaspora while using the Contactless Biometric Passport Application System, assuring the public that its technical team is actively working to resolve these issues. Applicants who do not receive their payment One-Time Password (OTP) are advised to check their spam folders. For further assistance, applicants can reach the NIS Support Team through the following channels:

In-App Chat: Select “Support” → “Chat with Us”
Email: support@immigration.gov.ng
X (Twitter): @nigimmigration
Instagram: @nigimmigration, @nis_response
Facebook: @nigimmigration, @nis-response
Contact Center Numbers: 09121900655, 09121556359, 09121477092 (Mondays to Fridays, 9:00 a.m. – 6:00 p.m.)