The Central Bank of Nigeria, CBN, has dissolved the Boards and managements of four commercial bank in the country.
The Deposit Money Banks upon which the apex bank wielded the big stick are Titan Trust Bank, Polaris Bank, Union Bank and Keystone Bank.
Sources in the bank informed the magazine on Wednesday that the Yemi-Cardoso-led CBN sacked the board of the banks in line with its regulatory powers.
The magazine however learnt that the sack of the boards of the banks may not be unconnected with the report of Jim Obazee, the Special Investigator on CBN.
Obazee was appointed last year to investigate the Godwin-Emefiele-led CBN, and has submitted a scathing report last December to President Bola Ahmed Tinubu.
According to those privy to the report, one of the recommendations made to the president, is the sack of the boards of the four banks in which Emefiele allegedly has interest.
Recall that the embattled former CBN governor was alleged to have used proxies to acquire the four banks. He has denied the allegation.
More to come..
