AUDIO: #CBN Emefiele leaked phone conversation

With today being 10/Feb; and many Nigerians still eager to know whether or not there'd be postponement in the #NairaRedesign a purported audio phone call recording of the CBN governor is been widely shared exposing him of a "cover-up" conversation. The leaked phone conversation featured the CBN Governor, Godwin Emefiele, his deputy, Edward Adamu; the Director of Finance, Dayo Arowosegbe; and the Special Adviser to the CBN Governor, Emmanuel Ukeje allegedly discussing how to cover up the loss of over N500 billion stolen from the CBN in a private investment that collapsed. However, according to the then CBN’s spokesperson Mr Okorafor, the National Economic Management Team and the National Economic Council (NEC), chaired by Vice President Yemi Osinbajo, had approached the CBN in 2015 to assist state governments with Conditional Budget Support. The support was to assist states to pay the salaries, pensions and gratuities of their workers in the aftermath of the significant drop in global oil prices and associated Federation Accounts allocations. He said to facilitate the recovery of the economy from the continuous impact of the recession, the CBN provided about N650 billion in loans at 9 per cent with a two-year grace period to 35 states of the Federation. “These monies were distributed to the states monthly with documented approval of the Federal Ministry of Finance and the Presidency. “In closing the Bank’s 2018 accounts, external auditors in their Draft Account, erroneously classified about N150 billion of these loans as bad, which negatively affected the Bank’s Balance Sheet and shareholders fund,” Mr Okorafor said. Conclusion: The leaked audio purportedly exposing the Central Bank Governor, Godwin Emefiele in an N500bn cover-up deal is not recent. It first surfaced three years ago, precisely in 2019 published by Sahara Reporters.

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