The Deputy Governor of the Central Bank of Nigeria in charge of Financial System Stability, Aisha Ahmad, has been arrested and detained by the Department of State Services (DSS). According to reports, Mrs Ahmad was accused of unlawfully acquiring shares in Polaris Bank and Titan Bank, as well as allegedly involving herself in raising $300 million for Titan Bank to acquire Union Bank.
When contacted by SaharaReporters, the spokesperson for the DSS, Peter Afunanya, declined to comment on the alleged arrest of Aisha Ahmad by the security operatives, saying, "I don't have any comments in this regard, please." This would be the second time the secret police have arrested Mrs Aisha Ahmad in connection with this matter. Her first arrest was reported by SaharaReporters in September 2023.
SaharaReporters had reported on Wednesday how the Central Bank of Nigeria dissolved the boards and management of Titan Trust Bank and three others. This followed a report submitted to President Bola Tinubu by the Special Investigator on the Central Bank of Nigeria (CBN) and Related Entities, Jim Obazee. The other affected banks are Union Bank, Polaris Bank, and Keystone Bank. Aisha Ahmad has also allegedly been involved in fraudulent transactions related to the failed naira-swap policy under the reign of Godwin Emefiele.
Other top CBN officials who are allegedly involved in these fraudulent dealings are Folashodun Adebisi Shonubi, Adamu Lamtek, and Kingsley Obiora. SaharaReporters had also reported that the President of the African Export-Import Bank (Afreximbank), Prof. Benedict Oramah, and others were investigated over the $300 million that the pan-African multilateral financial institution gave to Titan Trust Bank Limited to acquire a 93.4% stake in Union Bank of Nigeria Plc.