TheNewsGuru.com (TNG) investigation has shown that contrary to an earlier viral story which inadvertently found its way into our platform, through a cub reporter, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele is neither the owner nor an investor in Titan Trust Bank, which in December 2021 bought over majority shareholdings in Union Bank of Nigeria.
Following our house rules, we removed almost immediately the item from our platform.
Our further investigation confirms what the Chairman of Titan Trust Bank, a former Deputy Governor of the Central bank of Nigeria, Tunde Lemo, said after Titan Trust acquired majority shares (93.4 per cent) of Union Bank of Nigeria in December 2021: “Titan Trust Bank is 85% owned by Vink Corporation, a subsidiary and trading unit of Tropical General Investments Ltd (TGI), a foreign firm, which has operated in some form in Nigeria since 1991.
The remaining 15% shares of the bank is owned locally by a diverse group including Mr Lemo 0.9% and Andrew Chukwudi Ojei 0.9 who are both on the board of the bank.
We are embarrassed and apologize profusely to our esteemed readers, Godwin Emefiele, Titan Trust Bank, the TGI group and all those who hold us in high esteem.
ALSO READ || Titan Trust Bank completes take over of Union Bank
We hold tenaciously to the ethics of journalism and believe in free enterprise, in rule of law, in fairness, equity and justice, which are the foundation on which TNG stands.
Stern measures have been taken to ensure such laxity does not reoccur.