In exercise of its regulatory powers, the Central Bank of Nigeria (CBN) has dissolved the Boards and managements of Titan Trust Bank, Polaris Bank, Union Bank and Keystone Bank.

It was gathered that the decision to send the boards of the four banks packing was a fallout of the implementation of the report of the Special Investigator on Central Bank of Nigeria (CBN) and Related Entities, Jim Obazee.

Barring last-minute change of plan, the CBN is expected to make a formal announcement of the far-reaching decision this Wednesday evening following a meeting between the CBN Governor, Yemi Cardoso, the special investigator Obazee, and the boards and managements of the affected four banks.

Details Later…