CBN Scandal: Leaked audio authentic but selective, bank says; claims no money lost

By Bassey Udo

The Central Bank of Nigeria (CBN) on Sunday scrambled a rebuttal to deny media reports that it lost over N500 billion after a private investment by some of its top officials went awry.

Sahara Reporters had reported earlier a telephone conversation involving 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.

The online medium said the discussion of the top CBN officials was about a plot to cover up the huge loss after a private investment in Dubai, United Arab Emirates, went bad.

But, the bank in a statement by its spokesperson, Isaac Okorafor, denied any money was either stolen or missing from is vaults.

It admitted the audio was authentic but said they were “selective conversations.”

Mr Okorafor said contrary to insinuations that the audio recording of selective conversations by Mr Emefiele and the officials were about a fraudulent transaction, it was “simply to proffer solutions to a misunderstanding that affected the Bank’s balance sheet.”

According to Sahara Reporters, in the audio, Mr Emefiele was heard saying “To avoid any serious problem is just, the government to have to agree to give us at least 100 billion cash but the government will not agree. They will kick against it.”

The officials also discussed the possible reaction of the opposition as well as the impact of their actions on the economy.

“I’ll have to think of a way out because we cannot afford it at all.

“The implications are just too many to even think about and damaging. We cannot allow this like this, we cannot,” Mr Emefiele was quoted as saying in the audio.